{"id":170669,"date":"2023-10-25T02:22:00","date_gmt":"2023-10-25T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=170669"},"modified":"2023-10-25T08:50:31","modified_gmt":"2023-10-25T12:50:31","slug":"tech-talk-for-wednesday-october-25th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/10\/25\/tech-talk-for-wednesday-october-25th-2023\/","title":{"rendered":"Tech Talk for Wednesday October 25th 2023"},"content":{"rendered":"

Pre-opening Comments for Wednesday October 25th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning.<\/b> S&P 500 futures were down 9 points at 8:30 AM EDT.<\/em><\/p>\n

The Bank of Canada will update strategy on its lending rate to Canada\u2019s banks at 10:00 AM EDT<\/em><\/b><\/p>\n

Microsoft<\/b> advanced $14.88 to $345.31 after reporting higher than consensus fiscal first quarter revenues and earnings. <\/em><\/p>\n

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Texas Instruments<\/b> dropped $6.62 to $140.30 after reporting less than consensus third quarter earnings. The company also lowered fourth quarter guidance. <\/em><\/p>\n

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Visa<\/b> added $2.10 to $236.75 after reporting higher than consensus third quarter results. The company also raised fourth quarter guidance, increased its dividend and announced approval of a $25 billion share buyback program.<\/em><\/p>\n

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Canadian National Railway<\/b> dropped $2.05 to Cdn$142.83 after reporting less than consensus third quarter earnings. <\/em><\/p>\n

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

Headline reads \u201cThe underperformance of high-beta presents concern pertaining to the risk-on time of year for stocks through the next six months\u201d.<\/strong><\/em><\/p>\n

https:\/\/equityclock.com\/2023\/10\/24\/stock-market-outlook-for-october-25-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Healthcare SPDRs $XLVmoved below $126.88 extending an intermediate downtrend.<\/p>\n

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General Electric $GE an S&P 100 stock moved above intermediate resistance at $113.74 following release of higher than consensus third quarter results.<\/p>\n

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Three Dow Jones Industrial Average stocks broke support extending intermediate downtrends (despite the 205 point gain by the Average). Cisco $CSCO moved below $52.15.Chevron $CVX moved below $158.99. Travelers $TRV moved below $158.50. <\/p>\n

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Bank of America $BAC an S&P 100 stock moved below $25.47 extending an intermediate downtrend.<\/p>\n

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Danaher $DHR an S&P 100 stock moved below $195.62 extending an intermediate downtrend.<\/p>\n

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Teck Resources $TECK $TECK.B.TO a TSX 60 stock moved below US$37.01 and Cdn$50.09 extending an intermediate downtrend. <\/p>\n

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Toronto Dominion Bank $TD.TO a TSX 60 stock moved below Cdn$77.57 extending an intermediate downtrend. <\/p>\n

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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.24th<\/sup> 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

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 24th<\/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

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

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

Daily Seasonal\/Technical Sector Trends for October 24th<\/sup> 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

Links offered by valued providers<\/strong><\/font><\/p>\n

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

Seasonality in equity markets<\/b><\/p>\n

StockCharts TV \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

You Must Be Aware of How Wall Street is Rotating Money | Trading Places (10.24.23)<\/b><\/p>\n

You Must Be Aware of How Wall Street is Rotating Money | Trading Places (10.24.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Commodities And Bitcoin Gather Steam With Strong Rotation | Sector Spotlight (10.24.23)<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=0urI9AcH3z8<\/a><\/p>\n

 <\/p>\n

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

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

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US Bitcoin: Technical score is 6<\/b><\/p>\n

Intermediate trend: Up Score: 2<\/p>\n

Strength relative to the S&P 500: Up Score: 2<\/p>\n

20 Day Moving Average: Above Score: 1<\/p>\n

Daily Momentum (Stochastics, RSI, MACD): Up Score: 1<\/p>\n

Total Score:6<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 3.40 to 17.00. It remains Oversold.<\/p>\n

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The long term Barometer added 1.00 to 32.40. It remains Oversold. <\/p>\n

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

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The intermediate term Barometer slipped 1.76 to 25.11. It remains Oversold. <\/p>\n

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The long term Barometer slipped 0.88 to 29.07. It remains Oversold. <\/p>\n

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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 Wednesday October 25th U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points at 8:30 AM EDT. The Bank of Canada will update strategy on its lending rate to Canada\u2019s banks at 10:00 AM EDT Microsoft advanced $14.88 to $345.31 after reporting higher than consensus fiscal first […]<\/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-170669","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/170669","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=170669"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/170669\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=170669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=170669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=170669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}