{"id":160526,"date":"2022-10-28T02:22:00","date_gmt":"2022-10-28T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=160526"},"modified":"2022-10-28T08:43:25","modified_gmt":"2022-10-28T12:43:25","slug":"tech-talk-for-friday-october-28th-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/10\/28\/tech-talk-for-friday-october-28th-2022\/","title":{"rendered":"Tech Talk for Friday October 28th 2022"},"content":{"rendered":"

Pre-opening Comments for Friday October 28th<\/sup><\/strong><\/font><\/em><\/p>\n

<\/em><\/b><\/p>\n

U.S. equity index futures were lower this morning.<\/b> S&P 500 futures were down 10 points in pre-opening trade.<\/em><\/p>\n

Index futures<\/b> were virtually unchanged following releases of economic news at 8:30 AM EDT: September PCE Price Index, September Personal Income and September Personal Spending.<\/em><\/p>\n

Intel $INTC added $$1.17 to $27.44<\/b> after reporting higher than consensus quarterly earnings. <\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

Pinterest $PINS gained $2.41 to $24.30<\/b> after reporting higher than consensus quarterly results.<\/em><\/p>\n

\"clip_image002[1]\"<\/a><\/p>\n

Amazon.com $AMZN plunged $16.06 to $94.90<\/b> after reporting lower than consensus quarterly revenues. <\/em><\/p>\n

\"clip_image003[1]\"<\/a><\/p>\n

Apple added<\/b> $0.50 to $145.30<\/b> after reporting higher than consensus quarterly revenues and earnings. <\/em><\/p>\n

\"clip_image004[1]\"<\/a><\/p>\n

 <\/p>\n

EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n

 <\/p>\n

Headline reads \u201cDefense capital goods orders continue to keep industrial activity afloat, even as weakening consumer demand takes a toll on other segments of the manufacturing economy<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/10\/27\/stock-market-outlook-for-october-28-2022\/<\/em><\/a><\/p>\n

 <\/p>\n

Wolf on Bay Street<\/strong><\/font><\/p>\n

Don Vialoux is a guest on Wolf on Bay Street radio show on Saturday. Connect at Corus Radio 640. Show starts at 7:00 PM EDT<\/p>\n

 <\/p>\n

Technical Notes for yesterday<\/strong><\/font><\/p>\n

Dow Jones Industrial Average stocks led the advance yesterday after reporting higher than consensus third quarter results. Caterpillar $CAT moved above $199.04 extending an intermediate uptrend. McDonalds $MCD moved above $266.51 to an all-time high. Home Depot $HD moved above $292.97 resuming an intermediate uptrend. <\/p>\n

\"clip_image001\"<\/a><\/p>\n

\"clip_image002\"<\/a><\/p>\n

Big cap high tech equities remained under pressure following release of less than consensus quarterly results. Meta Platform $META was notably weaker following a break below $122.53. Alphabet $GOOGL moved below $94.38 extending an intermediate downtrend. Amazon also moved sharply lower after the close.<\/p>\n

\"clip_image003\"<\/a><\/p>\n

\"clip_image004\"<\/a><\/p>\n

Money center U.S. banks continued to move higher. Wells Fargo $WFC moved above $46.31 extending an intermediate uptrend. <\/p>\n

\"clip_image005\"<\/a><\/p>\n

South Africa iShares $EZA completed a double bottom pattern on a move above $39.03.<\/p>\n

\"clip_image006\"<\/a><\/p>\n

NASDAQ 100 stocks breaking resistance and extending intermediate uptrends included AbbVie $ABBV on a move above $153.61 and Check Point Software $CHKP on a move above $118.80 and $126.01<\/p>\n

\"clip_image007\"<\/a><\/p>\n

\"clip_image008\"<\/a><\/p>\n

TSX 60 stocks tracking higher included Algonquin Power $AQN.TO completing a double bottom pattern on a move above $14.88, Restaurant Brands International $QSR.TO extending an intermediate uptrend on a move above $79.69 and Shopify $SHOP.TO moving above intermediate resistance at $Cdn.46.46.<\/p>\n

\"clip_image009\"<\/a><\/p>\n

\"clip_image010\"<\/a><\/p>\n

\"clip_image011\"<\/a><\/p>\n

 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for October 27th<\/sup> 2022<\/p>\n

\"clip_image013\"<\/a><\/p>\n

Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

 <\/p>\n

Commodities<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Commodities Trends for October 27th <\/sup>2022<\/p>\n

\"clip_image015\"<\/a><\/p>\n

Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

<\/font><\/p>\n

Sectors<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Sector Trends for October 27th<\/sup> 2021 <\/p>\n

\"clip_image017\"<\/a><\/p>\n

Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

 <\/p>\n

Link offered by a valued provider<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Tom Bowley<\/em><\/strong><\/font> says \u201cHistory says buy stocks now<\/em><\/strong>\u201d. <\/p>\n

https:\/\/www.youtube.com\/watch?v=UMvcb03HXPE<\/a><\/p>\n

 <\/p>\n

Chart of the Day<\/strong><\/font><\/p>\n

Strength in Shopify triggered significant technical gains by Cdn. Technology iShares (XIT.TO) Technical score increased from -2 to +4: <\/p>\n

\u00b7 Price moved above $32.16 changing trend from down to neutral (i.e. Score:-2 to 0)<\/p>\n

\u00b7 Strength relative to the S&P 500 changed from Negative to Positive (i.e. Score: -2 to +2)<\/p>\n

\u00b7 Price also moved above its 50 day moving average, another encouraging sign<\/p>\n

\u00b7 Seasonality rating changes from Negative to Positive on October 30th<\/sup><\/p>\n

\"clip_image018\"<\/a><\/p>\n

 <\/p>\n

S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image019\"<\/a><\/p>\n

The intermediate term Barometer added 1.20 to 50.40 yesterday. It remains Neutral. Trend remains up.<\/p>\n

\"clip_image020\"<\/a><\/p>\n

The long term Barometer added 1.20 to 32.20 yesterday. It remains Oversold. Trend remains up.<\/p>\n

 <\/p>\n

TSX Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image021\"<\/a><\/p>\n

Intermediate term Barometer added 2.97 to 52.54 yesterday. It remains Neutral. Trend remains up.<\/p>\n

\"clip_image022\"<\/a><\/p>\n

The long term Barometer slipped 1.27 to 33.90 yesterday. It remains Oversold. Trend remains up. <\/p>\n

<\/b><\/p>\n

Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/em><\/a> 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<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Friday October 28th U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Index futures were virtually unchanged following releases of economic news at 8:30 AM EDT: September PCE Price Index, September Personal Income and September Personal Spending. Intel $INTC added $$1.17 to $27.44 […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-160526","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/160526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/comments?post=160526"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/160526\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=160526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=160526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=160526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}