{"id":170626,"date":"2023-10-24T02:22:00","date_gmt":"2023-10-24T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=170626"},"modified":"2023-10-24T09:02:10","modified_gmt":"2023-10-24T13:02:10","slug":"tech-talk-for-tuesday-october-24th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/10\/24\/tech-talk-for-tuesday-october-24th-2023\/","title":{"rendered":"Tech Talk for Tuesday October 24th 2023"},"content":{"rendered":"

Pre-opening Comments for Tuesday October 24th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 25 points at 8:30 AM EDT.<\/em><\/p>\n

General Electric<\/b> added $5.38 to $112.07 after reporting higher than consensus third quarter earnings. The company also raised guidance. <\/em><\/p>\n

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Cadence Design Systems<\/b> dropped $8.92 to $231.00 after the company lowered guidance. <\/em><\/p>\n

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Crane<\/b> gained $3.32 to $86.00 after reporting higher than consensus third quarter earnings. The company also raised guidance for the fourth quarter. <\/em><\/p>\n

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Cleveland Cliffs<\/b> added $0.43 to $14.80 after reporting higher than consensus third quarter earnings. <\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cCommodity prices showing a strengthening trend, but can the asset class overcome the seasonal headwinds that are normal over the next month and a half<\/strong>\u201d?<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/10\/23\/stock-market-outlook-for-october-24-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

S&P 500 Index moved below 4,216.45 and S&P 500 ETF moved below $420.18 extending an intermediate downtrend. <\/p>\n

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U.S. REIT iShares $IYR moved below $74.70 extending an intermediate downtrend. <\/p>\n

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Taiwan iShares $EWT moved below $44.01 extending an intermediate downtrend. <\/p>\n

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S&P 100 stocks moving below intermediate support included Citigroup, JP Morgan, United Parcel Services, Dupont and MetLife.<\/p>\n

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NASDAQ 100 stocks moving below intermediate support included Autodesk, Applied Materials, Regeneron and Intel.<\/p>\n

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TSX 60 stocks moving below intermediate support included Rogers Communication (RCI and RCI.B), Sun Life Financial, Nutrien and Shopify.<\/p>\n

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 <\/p>\n

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

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

Daily Seasonal\/Technical Equity Trends for Oct.23rd<\/sup> 2023<\/p>\n

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

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

Source for all positive seasonality ratings: <\/em>www.EquityClock.com<\/em><\/a><\/p>\n

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for October 23rd<\/sup> 2023<\/p>\n

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

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

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

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

Daily Seasonal\/Technical Sector Trends for October 23rd 2023 <\/p>\n

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

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

 <\/p>\n

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

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The intermediate term Barometer dropped 1.80 to 13.60. It remains Oversold. Daily trend is down.<\/p>\n

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The long term Barometer dropped 1.40 to 31.40. It remains Oversold. Daily trend continues down.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 1.32 to 26.87. It remains Oversold.<\/p>\n

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The long term Barometer slipped 0.44 to 29.96. It remains Oversold. <\/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 Tuesday October 24th U.S. equity index futures were higher this morning. S&P 500 futures were up 25 points at 8:30 AM EDT. General Electric added $5.38 to $112.07 after reporting higher than consensus third quarter earnings. The company also raised guidance. Cadence Design Systems dropped $8.92 to $231.00 after the company lowered […]<\/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-170626","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/170626","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=170626"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/170626\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=170626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=170626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=170626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}