Technical Notes
Amazon (AMZN) moved below $244.30 completing a double top pattern. The stock dropped another $16.76 to $227.46 after the close after reporting third quarter revenues and earnings less than consensus.
Alphabet (GOOG) moved below $314.70 completing a double top pattern. Weakness was in response to less than consensus third quarter results.
NASDAQ Biotechnology iShares (IBB) moved above $217.11 to an all-time high extending an intermediate uptrend.
Old Dominion Freight Lines (ODFL) a NASDAQ 100 stock moved below $169.65 extending an intermediate downtrend.
Scotia Bank (BNS.TO) a TSX 60 stock moved above Cdn$133.31 to an all-time high extending an intermediate uptrend.
Power Corp (POW.TO) a TSX 60 stock moved above Cdn$96.96 to an all-time high extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Commodities
Sectors
Links offered by valued providers
November Could Be the Market’s Best Month! Tom Bowley
Notice his comments on seasonality (short term and long term).
November Could Be the Market’s Best Month! – YouTube
Tiff Macklem: Why Canada’s Inflation Fight Isn’t Over:
Tiff Macklem: Why Canada’s Inflation Fight Isn’t Over – YouTube
Fed still on track for December hike? Here’s what to know: Steve Leisman
Fed still on track for December hike? Here’s what to know – YouTube
MRKT Call – Thursday, October 29th: Dan Nathan and Danny Moses
https://www.youtube.com/watch?v=TmYKVJcStQY
Earnings Earthquake As GOOGL, NOW, CAT Collapse, PCE Inflation Data Hits, Panic Creeps Back In: Verified Investing
https://www.youtube.com/watch?v=4IkMC6dcFEA
S&P 500 Momentum Barometers
The intermediate term Barometer added 7.00 to 65.80. It changed from Neutral to Overbought on a move above 60.00. Daily uptrend was extended.
The short term (20 days) Barometer added 5.20 to 75.80. It remained Overbought. Daily uptrend was extended.
The long term Barometer added 4.40 o 65.40. It remained Overbought. Daily uptrend was extended.
TSX Momentum Barometers
The intermediate term Barometer added 3.26 to 54.42. It remained Neutral. Daily uptrend was extended.
The short term Barometer added 1.40 to 58.14. It remained Neutral.
The long term Barometer dropped 0.47 to 50.23. It remained 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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Equity Clock Publications