Tech Talk for Wednesday November 27th 2024

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Pre-opening Comments for Wednesday November 27th

U.S. equity index futures were lower this morning. S&P 500 futures were down points at 8:35 AM EST.

U.S. equity index futures were unchanged following release of economic news at 8:30 AM EST. Consensus for third quarter annualized third quarter U.S. GDP was a 2.8% gain versus a 3.0% gain in the second quarter. Actual was 2.8%. Consensus for October Durable Goods Orders was up 0.5% versus unchanged in September. Actual was up 0.2%

HP Inc dropped $3.00 to $36.10 after offering lower than consensus fiscal first quarter earnings guidance.

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Dell dropped $14.49 to $127.25 after reporting weaker than consensus Personal Computer sales.

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Workday dropped $29.19 to $342.00 after offering fourth quarter guidance below consensus.

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Autodesk dropped $29.26 to $288.70 after third quarter operating margins declined.

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EquityClock’s stock market outlook for November 27th

Market breadth is remaining bullish heading through the end of the year, conducive to the normal year-end melt-up in stocks. See:

https://equityclock.com/2024/11/26/stock-market-outlook-for-november-27-2024/

Technical Notes

S&P 500 Index and its related iShares: SPY closed at an all-time high extending an intermediate uptrend.

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Utilities SPDRs $XLU moved above $82.50 to an all-time high extending an intermediate uptrens.

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DexCom $DXCM a NASDAQ 100 stock moved above $77.77 completing a double bottom pattern.

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Cintas $CTAS a NASDAQ 100 stock moved above $226.95 to a all-time high extending an intermediate uptrend.

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Trader’s Corner

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Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 26th 2024

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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 November 26th 2024

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 26th 2024

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Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Five Must-Have Tools for Analyzing Stock Charts: David Keller

Five Must-Have Tools for Analyzing Stock Charts – YouTube

Investors should trim into the riskiest parts of the market, says John Hancock’s Emily Roland

Investors should trim into the riskiest parts of the market, says John Hancock’s Emily Roland – YouTube

Expect Tech to Drag & Airlines to Soar, SPX Retests 6,000: Schwab Network

Discusses sectors that benefit from the “Santa Claus Rally”

Expect Tech to Drag & Airlines to Soar, SPX Retests 6,000 – YouTube

MSTR & Bitcoin’s Crypto Link, Gold & Crypto ETFs to Watch: Schwab Network

MSTR & Bitcoin’s Crypto Link, Gold & Crypto ETFs to Watch – YouTube

Oil prices are now ‘a touch too low’ relative to inventory, says Goldman Sachs’ Daan Struyven

Oil prices are now ‘a touch too low’ relative to inventory, says Goldman Sachs’ Daan Struyven – YouTube

S&P 500 Momentum Barometers

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The intermediate term Barometer slipped 0.40 to 68.80. It remains Overbought.

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The long term Barometer dropped 1.40 to 75.40. It remains Overbought.

TSX Momentum Barometers

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The intermediate term Barometer dropped 3.65 to 55.71. It remains Neutral.

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The long term Barometer dropped 1.83 to 73.52. It remains Overbought.

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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