Pre-opening Comments for Friday November 24th
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:35 AM EST.
Today is Black Friday, the day historically when annual profits by U.S. retailers turn from “red “to “black”.
The Canadian Dollar added $0.14 to US73.15 following release of Canada’s September Retail Sales. Consensus was unchanged versus a decline of 0.1% in August. Actual was an increase of 0.6%
iRobot advanced $8.96 to $38.78 in anticipation of European Union antitrust approval of its takeover by Amazon.
General Motors added $0.08 to 438.78 after announcing that its Cruise division plans to restart a test of its robotaxi service in a U.S. city.
NVidia slipped $3.42 to $483.75 after the company announced delay in launch of one of its new artificial intelligence chips destined for China.
EquityClock’s Daily Comment
Headline reads “Gold mining ETF carving out a head-and-shoulders bottoming pattern ahead of its period of seasonal strength”.
https://equityclock.com/2023/11/22/stock-market-outlook-for-november-24-2023/
Technical Notes
Nil
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Nov.23rd 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.23rd 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for November 23rd 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Breadth Analysis Suggests Pullback From S&P 4600 | The Final Bar (11.22.23)
https://www.youtube.com/watch?v=uKu48tQbRZ0
Gold Is at Inflection Point, Hard Landing Is Coming: These Charts Tell You Everything – Tavi Costa
https://www.youtube.com/watch?v=87NnwvN0h-c
TSX Momentum Barometers
The intermediate term Barometer slipped another 0.44 to 59.03. It remains Neutral.
The long term Barometer added 0.88 to 44.05. 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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Equity Clock Publications