Pre-opening Comments for Thursday November 30^th

U.S .index futures were higher this morning. S&P 500 futures added 14 points at 8:35 AM EST

Index futures were unchanged following release of the October Core PCE Price Index at 8:30 AM EST. Consensus was an annual increase of 3.5% versus 3.7% in September. Actual was an increase of 3.5%

Salesforce.com advanced $16.96 to $247.40 after reporting higher than consensus third quarter results.

La Z Boy gained $1.30 to $33.10 after reporting higher than consensus second quarter results. The company also raised its dividend.

Snowflake added $12.98 to $188.30 after reporting higher than consensus third quarter revenues and earnings.

Pure Storage dropped $5.82 to $32.11 after lowering fourth quarter guidance.

 

EquityClock’s Daily Comment

Headline reads “The trend of shipping activity in the US continues to get worse”.

https://equityclock.com/2023/11/28/stock-market-outlook-for-november-29-2023/

 

Technical Notes

S&P 500 SPDRs $SPY moved above $457.82 extending an intermediate uptrend.

Financial SPDRs $XLF moved above $35.55 extending an intermediate uptrend.

India ETF $PIN moved above $24.25 extending an intermediate uptrend. Testing its all-time high at $24.57!

Taiwan iShares $EWT moved above $49.05 extending an intermediate uptrend.

S&P 100 and NASDAQ 100 stocks moving above resistance extending an intermediate uptrend included Ford, General Motors, Workday, Salesforce.com and Nike.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Nov.29^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.29^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 29^th 2023

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Are Rate Cuts on the Horizon? Watch the Jobless Claims. | Halftime by Chaikin Analytics

Are Rate Cuts on the Horizon? Watch the Jobless Claims. | Halftime by Chaikin Analytics (11.29.23) – YouTube

 

Follow This Powerful Seasonal Playbook in an Election Year | The Final Bar (11.29.23)

Follow This Powerful Seasonal Playbook in an Election Year | The Final Bar (11.29.23) – YouTube

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 0.20 to 76.60. It remains Overbought. Daily trend remains up.

The long term Barometer added 1.60 to 59.60. It remains Neutral. Daily trend remains up.

 

TSX Momentum Barometers

The intermediate term Barometer added 2.64 to 64.76. It remains Overbought. Daily trend resumed an uptrend.

The long term Barometer slipped 0.44 to 46.70. 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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