{"id":170889,"date":"2023-11-01T02:22:00","date_gmt":"2023-11-01T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=170889"},"modified":"2023-11-01T08:46:39","modified_gmt":"2023-11-01T12:46:39","slug":"tech-talk-for-wednesday-november-1st-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/11\/01\/tech-talk-for-wednesday-november-1st-2023\/","title":{"rendered":"Tech Talk for Wednesday November 1st 2023"},"content":{"rendered":"

Pre-opening Comments for Wednesday November 1st<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were mixed this morning.<\/b> S&P 500 futures were down 1 point at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 Index futures<\/b> recovered 12 points following the Treasury Department\u2019s refunding announcement at 8:30 AM <\/em><\/p>\n

Paycom Software<\/b> dropped $76.92 to $168.05 after the company reduced guidance below consensus for 2024.<\/em><\/p>\n

\"clip_image001[5]\"<\/a><\/p>\n

Yum China<\/b> dropped $4.91 to $47.65 after reporting less than consensus third quarter results. <\/em><\/p>\n

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Match<\/b> dropped $2.85 to $31.75 after the company lowered guidance. <\/em><\/p>\n

\"clip_image003[5]\"<\/a><\/p>\n

Advanced Micro Devices<\/b> slipped $0.26 to $98.24 after announcing less than consensus fourth quarter guidance.<\/em><\/p>\n

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

Headline reads \u201cNovember is the first of the best six months of the year timeframe for the equity market.  The S&P 500 Index has averaged a gain of 1.8% in this second to last month of the year<\/strong>\u201d.<\/em><\/p>\n

https:\/\/equityclock.com\/2023\/10\/31\/stock-market-outlook-for-november-1-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

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

ExxonMobil<\/b> $XOM a Dow Jones Industrial Average stock moved below $104.83 extending an intermediate downtrend. <\/p>\n

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

Amgen <\/b>$AMGN a Dow Jones Industrial Average stock moved below intermediate support at $259.67.<\/p>\n

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

Canadian Tire<\/b> $CTC.A. TO a TSX 60 stock moved below Cdn$133.46 to a three year low extending an intermediate downtrend. <\/p>\n

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

Cameco<\/b> $CCO.TO a TSX 60 stock moved above Cdn$56.87 extending an intermediate uptrend.<\/p>\n

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 <\/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 Oct.31st<\/sup> 2023<\/p>\n

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

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

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for October 31st<\/sup> 2023<\/p>\n

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

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for October 31st<\/sup> 2023 <\/p>\n

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

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

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

 <\/p>\n

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

Seasonality is Dropping Big Bomb on Real Estate Sector | Sector Spotlight (10.30.23)<\/b><\/p>\n

Seasonality is Dropping Big Bomb on Real Estate Sector | Sector Spotlight (10.30.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Will It Be a Trick Or a Treat At The Fed Meeting? | Trading Places (10.31.23)<\/b><\/p>\n

Will It Be a Trick Or a Treat At The Fed Meeting? | Trading Places (10.31.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

There will be a year-end rally, says Hightower’s Stephanie Link<\/b><\/p>\n

There will be a year-end rally, says Hightower’s Stephanie Link \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The Final Bar with David Keller, CMT | Guest Tony Dwyer | 4pm ET, 1pm PT | Oct. 31st, 2023<\/b><\/p>\n

The Final Bar with David Keller, CMT | Guest Tony Dwyer | 4pm ET, 1pm PT | Oct. 31st, 2023 \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

Technical score on WTI Crude Oil dropped from 0 to -4 when price dropped below $83.21<\/p>\n

Intermediate trend: from up to down: Score: +2 to -2<\/p>\n

Strength relative to S&P 500: Unchanged at Neutral: Score: 0<\/p>\n

Above\/Below 20 day MA: Remains below 20 day MA Score: -1<\/p>\n

Daily momentum (Stochastics, RSI, MACD): trending down. Score: -1<\/p>\n

Total Score from 0 to -4<\/p>\n

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

 <\/p>\n

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

\"clip_image012\"<\/a><\/p>\n

The Intermediate term Barometer advanced 6.20 to 20.60. Nice bounce above the previous low at 8.60, typical of a confirmed intermediate low for the S&P 500 Index! <\/p>\n

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

The long term Barometer advanced 3.20 to 31.60. Another indicator that implies a likely intermediate low by the S&P 500 Index<\/p>\n

 <\/p>\n

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

\"clip_image014\"<\/a><\/p>\n

The intermediate term Barometer slipped 1.32 to 24.67. It remains Oversold. <\/p>\n

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

The long term Barometer added 0.44 to 30.84. It remains Oversold. More technical evidence that an intermediate bottom has been reached. <\/p>\n

 <\/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 Wednesday November 1st U.S. equity index futures were mixed this morning. S&P 500 futures were down 1 point at 8:35 AM EDT. S&P 500 Index futures recovered 12 points following the Treasury Department\u2019s refunding announcement at 8:30 AM Paycom Software dropped $76.92 to $168.05 after the company reduced guidance below consensus for […]<\/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-170889","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/170889","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=170889"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/170889\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=170889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=170889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=170889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}