Pre-opening Comments for Tuesday November 28^th

U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points at 8:30 AM EST.

Scotia Bank dropped $1.25 to Cdn$59.00 after reporting less than consensus fiscal fourth quarter earnings.

Boeing gained $4.25 to $223.55 after RBC upgraded the stock to Outperform.

Canada Goose added $0.30 to $10.95 after acquiring a manufacturing facility in Romania.

Carnival added $0.05 to $14.67 after Melius upgraded the stock to Buy.

 

EquityClock’s Daily Comment

Headline reads “The market has reached a logical point to digest recent strength as it enters the normal tax-loss selling period”.

https://equityclock.com/2023/11/27/stock-market-outlook-for-november-28-2023/

 

Technical Notes

Gold ETN $GLD moved above $186.36 extending an intermediate uptrend.

Agnico-Eagle $AEM a TSX 60 stock moved above US$50.68 and US$50.84 completing a reverse Head & Shoulders pattern.

Shopify advanced $4.25 to Cdn$100.51 after reporting a 22% increase in Black Friday sales

Canadian Pacific $CP.TO a TSX 60 stock moved below Cdn$94.94 extending an intermediate downtrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Nov.27^th 2023

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

 

Commodities

Daily Seasonal/Technical Commodities Trends for Nov.27^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 27^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Jeff Parent on BNN

Jeff Parent from CastleMoore was the guest analyst on BNN yesterday. Following is a link to his top picks.

https://www.bnnbloomberg.ca/video/jeff-parent-s-top-picks~2816503

 

Links offered by valued providers

Market secrets revealed: David Keller

Market Secrets Revealed! Final Bar Mailbag – US Dollar, S&P 500 ETF, Fibonacci Pivots (11.27.23) – YouTube

 

How To Time Your Trade Entries & Exits Like a Pro | Decision Point Trading Room

Note comments on U.S. Dollar, Gold, Gold Miners and Silver

How To Time Your Trade Entries & Exits Like a Pro | DecisionPoint Trading Room (11.27.23) – YouTube

 

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 1.00 to 75.00. It remains Overbought.

The long term Barometer slipped 0.60 to 57.20. It remains Neutral.

 

TSX Momentum Barometers

The intermediate term Barometer slipped 0.44 to 60.79. It remains Overbought.

The long term Barometer slipped 0.88 to 44.49. It remains Neutral.

 

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed

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