Pre-opening Comments for Friday November 10^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points at 8:30 AM EST.

Trade Desk plunged $22.57 to $54.24 after the company lowered fiscal fourth quarter expectations.

Lions Gate Entertainment added $0.13 to $9.20 after reporting higher than consensus fiscal second quarter revenues and profits.

Groupon plunged $4.54 to $9.00 after reporting a third quarter loss.

Illumina dropped $9.38 to $97.60 after the company cut its revenue and earnings forecast.

 

EquityClock’s Daily Comment

Headline reads “A number of sectors of the market are rolling over from resistance at 50-day moving averages”.

https://equityclock.com/2023/11/09/stock-market-outlook-for-november-10-2023/

Technical Notes

Technology SPDRs $XLK moved above $177.00 setting an intermediate uptrend.

Semiconductor ETF $SMH moved above intermediate resistance at $154.06

Technology stocks trading above intermediate resistance include Nvidia on a move above $476.09, Lam Research on a move above $665.00, Micron on a move above $97.15 and

Broadcom on a move above $925.91.

Germany iShares $EWG moved above intermediate resistance at $26.50

Walt Disney $DIS a Dow Jones Industrial Average stock moved above $86.29 completing a Reverse Head & Shoulders pattern.

Rogers Communications $RCI.B.TO a TSX 60 stock moved Cdn$57.26 extending an intermediate uptrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Nov.9^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.9^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for November 9^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Links offered by valued providers

The Crypto Market is on FIRE! | Trading Places (11.09.23)

The Crypto Market is on FIRE! | Trading Places (11.09.23) – YouTube

 

This Relative Strength Signal Can Provide Early Warning Signs | Stock Talk (11.09.2

This Relative Strength Signal Can Provide Early Warning Signs | Stock Talk (11.09.23) – YouTube

 

Chart of the Day

Technical score for the commodity ETN: GSG dropped from 0 to -6:

Intermediate trend changed from up to down on a move below $21.13 and $20.91.Score: +2 to -2

Strength relative to the S&P 500 changed from Neutral to Negative: Score: 0 to -2

Twenty day moving average: Remained below Score: -1

Daily Momentum (Stochastics, RSI, MACD): Continued trending down. Score: -1

Total Score -6

 

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 5.20 to 40.80. It remains Neutral. Daily trend is down.

The long term Barometer dropped another 1.80 to 38.00. It remains Oversold. Daily trend is down.

 

TSX Momentum Barometers

The intermediate term Barometer added 1.76 to 41.85. It remains Neutral.

The long term Barometer added 1.75 to 36.46. It remains Oversold.

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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