{"id":180845,"date":"2024-10-28T02:22:00","date_gmt":"2024-10-28T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=180845"},"modified":"2024-10-28T13:21:34","modified_gmt":"2024-10-28T17:21:34","slug":"tech-talk-for-monday-october-28th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/10\/28\/tech-talk-for-monday-october-28th-2024\/","title":{"rendered":"Tech Talk for Monday October 28th 2024"},"content":{"rendered":"<p>&#160;<\/p>\n<p><font size=\"5\"><strong>The Bottom Line<\/strong><\/font><\/p>\n<p><b>Key focuses this week are on third quarter results<\/b> <b>released by some of the largest U.S. companies<\/b> including:<\/p>\n<ul>\n<li>Ford on Monday <\/li>\n<li>Alphabet, McDonalds and Pfizer on Tuesday <\/li>\n<li>Microsoft and Eli Lily on Wednesday <\/li>\n<li>Apple and Amazon on Thursday <\/li>\n<li>Exxon Mobil and Chevron on Friday <\/li>\n<\/ul>\n<p><b><\/b><\/p>\n<p><b>Volatility in U.S. equity markets<\/b> (measured by the VIX Index) <b>is expected to remain elevated<\/b> <b>until after the U.S. elections on November 5<sup>th<\/sup>. <\/b>Current election polls show a \u201cdead heat\u201d in seven key states for the President race (with a slight momentum increase favouring Trump). Polls also show a \u201cdead heat\u201d for Senate seats (with Republicans leading by two additional seats). <\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Consensus for Earnings and Revenues by S&amp;P 500 companies<\/strong><\/font><\/p>\n<p>Source: <a href=\"http:\/\/www.factset.com\">www.factset.com<\/a><\/p>\n<p><b>Frequency of third quarter corporate reports peaks this week<\/b>. Thirty seven percent (185 companies) have reported to date. Another 34% (169 companies) are scheduled to report this week. Results released to date have prompted analysts to raise their earnings and revenue estimate slightly. Consensus calls for a 3.6% year-over-year earnings increase (up from 3.4% last week) and a 4.9% year-over-year increase in revenues (up from 4.7% last week).<\/p>\n<p><b>A word of caution!<\/b> Consensus for third quarter earnings remain significantly lower than the 11.3% year-over-year earnings gain recorded in the second quarter. <\/p>\n<p><b>Earnings and revenue gains accelerate in the fourth quarter, but at a slightly lower rate. than indicated last week.<\/b> Consensus calls for a 13.4% earnings increase (versus a 14.0% increase last week) and a 4.9% revenue increase (down from 5.0% last week).<\/p>\n<p><b>For all of 2024<\/b>, consensus calls for a 9.3% earnings increase (versus a 9.4% increase last week) and 5.0% revenue increase.<\/p>\n<p><b>Earnings gains remain elevated in 2025, but at a slightly lower rate.<\/b> First quarter earnings are expected to increase 13.4 % on a year-over-year basis (versus a 13.8% increase last week) and revenues are expected to increase 5.4% (versus a 5.5% increase last week). Second quarter earnings are expected to increase 12.6% (versus a 13.0% gain last week) and revenues are expected to increase 5.3% (versus 5.4% last week). For all of 2025 earnings are expected to increase 15.2% (versus a 15.1% increase last week) and revenues are expected to increase 5.8% versus 5.9% last week).<\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Economic News This Week<\/strong><\/font><\/p>\n<p><b>Bank of Canada Governor Macklem<\/b> speaks at 1:30 PM EDT on Monday<\/p>\n<p><b>U.S. third quarter annualized GDP<\/b> released at 8:30 AM EDE on Wednesday is expected to grow at a 3.0% rate versus a 3.0% rate in the second quarter. <\/p>\n<p><b>September Core PCE Price Index <\/b>is released at 8:30 AM EDT on Thursday. <\/p>\n<p><b>September U.S. Personal Income<\/b> released at 8:30 AM EDT on Thursday is expected to increase 0.4% versus a 0.2% gain in August. <b>September U.S. Personal Spending <\/b>is expected to increase 0.4% versus a 0.2% gain in August.<\/p>\n<p><b>August Canadian GDP<\/b> released at 8:30 AM EDT on Thursday is expected to be unchanged versus a 0.2% gain in July.<\/p>\n<p><b>Chicago October PMI<\/b> is released at 9:45 AM EDT on Thursday<\/p>\n<p><b>October Non-farm Payrolls<\/b> released at 8:30 AM EDT on Friday is expected to drop to 140,000 from 254,000 in September. <b>October Unemployment Rate<\/b> is expected to remain at 4.1% set in September. <b>October Average Hourly Earnings<\/b> are expected to increase 0.3% versus 0.4% in September.<\/p>\n<p><b>September U.S. Construction Spending<\/b> is released at 10:00 AM EDT on Friday<\/p>\n<p><b>October ISM Manufacturing PMI<\/b> is released at 10:00 AM EDT on Friday is expected to improve to 47.6 from 47.2 in September. <\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Selected Earnings News This Week<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image002-13.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image002\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image002\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image002_thumb-13.png\" width=\"603\" height=\"495\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Trader\u2019s Corner<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image004-13.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image004\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image004\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image004_thumb-13.png\" width=\"598\" height=\"468\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><b><\/b><\/p>\n<p><font size=\"4\"><strong>Equity Indices and Related ETFs<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Equity Trends for October 25<sup>th<\/sup> 2024<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image006-11.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image006\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image006\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image006_thumb-11.png\" width=\"718\" height=\"354\" \/><\/a><\/p>\n<p><em>Green: Increase from previous day<\/em><\/p>\n<p><em><font color=\"#ff0000\">Red: Decrease from previous day<\/font><\/em><\/p>\n<p><em>Source for all positive seasonality ratings: <\/em><a href=\"http:\/\/www.EquityClock.com\"><em>www.EquityClock.com<\/em><\/a><\/p>\n<p><em><\/em><\/p>\n<p><font size=\"4\"><strong>Commodities<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Commodities Trends for October 25<sup>th<\/sup> 2024<\/p>\n<p><b><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image008-11.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image008\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image008\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image008_thumb-11.png\" width=\"702\" height=\"412\" \/><\/a><\/b> <b><\/b><\/p>\n<p><em><font color=\"#00ff00\">Green: Increase from previous day<\/font><\/em><\/p>\n<p><em>Red: Decrease from previous day<\/em><\/p>\n<p><em><\/em><\/p>\n<p><font size=\"4\"><strong>Sectors<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Sector Trends for October 25<sup>th<\/sup> 2024<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image010-11.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image010\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image010\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image010_thumb-11.png\" width=\"702\" height=\"474\" \/><\/a><\/p>\n<p><em><font color=\"#00ff00\">Green: Increase from previous day<\/font><\/em><\/p>\n<p><em><font color=\"#ff0000\">Red: Decrease from previous day<\/font><\/em><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Changes Last Week<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image012-12.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image012\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image012\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image012_thumb-12.png\" width=\"352\" height=\"352\" \/><\/a><\/p>\n<p><b>     <br \/><\/b><\/p>\n<p><b><\/b><\/p>\n<p><font size=\"5\"><strong>Notes developed for \u201cWolf on Bay Street\u201d<\/strong><\/font><\/p>\n<p>Don Vialoux was a guest on \u201cWolf on Bay Street\u201d on Corus Radio 640 released on Saturday October 26<sup>th<\/sup> at 7:00 PM. Following are notes developed for the interview:<\/p>\n<p><b>Frequency of third quarter results released by major North American companies reaches a peak this week. <\/b>A word of caution! Consensus for third quarter results by S&amp;P 500 index companies calls for significantly lower than the 11.3% year-over-year earnings gain recorded in the second quarter. Consensus for third quarter earnings on a year-over-year basis calls for only a 3.6% increase. Most third quarter reports released last week were greeted with \u201csell on news\u201d responses. Share prices for S&amp;P 100 companies, that reported less than consensus third quarter results, were particularly hard hit. Examples included GE Aerospace, Danaher, Verizon, Lockheed Martin, MMM, Union Pacific and Coca Cola. On the other hand, a few exceptions recorded upside gains when quarterly results surprised on the upside: Notable winners with positive surprises last week were Tesla, AT&amp;T and General Motors <\/p>\n<p><b>Fortunately, corporate news becomes more favourable after third quarter results are released. <\/b>Consensus calls<b> <\/b>for earnings gains by S&amp;P 500 companies to accelerate in the fourth quarter<b> <\/b>with<b> <\/b>a 14.0% year-over-year increase.<b><\/b><\/p>\n<p><b>Look for higher than average volatility by U.S. equity prices prior to the U.S. Presidential Election on November 5<sup>th<\/sup>, <\/b>prompted by uncertainty about election results. Not surprising, the VIX Index, better known as the \u201cfear index\u201d, is trading near 20%, up from its 15% average in 2024 year-to-date. <\/p>\n<p><b>U.S. equity indices have a history since 1950 of moving higher from U.S. Presidential Election Day until at least January in the following year and frequently until June in the following year.<\/b> Investors begin to anticipate introduction of new government programs that will fulfill the newly elected President mandate. Average gain per period for the Dow Jones Industrial Average from Presidential Election Day to end of the year was 3.0%.<\/p>\n<p><b>Note an important exception to history: <\/b>When President George Bush was first elected President against Al Gore, final results were not released until early January when the election count for Florida finally was confirmed (Remember the hanging chad controversy?) The S&amp;P 500 Index was volatile, and moved lower by 9% from the election date until confirmation of Bush\u2019s victory. Chances are higher than average this year that another controversy on the final state Collage Vote count for President will occur again. Current election polls show that at least seven key states are scoring a \u201cdead heat\u201d. Final congressional approval of the next President could be delayed until a scheduled meeting on January 6<sup>th<\/sup> 2025. (Remember what happened on January 6<sup>th<\/sup> 2021 when Congress first attempted to approve the last Presidential election results).<\/p>\n<p><b>Short term stock market volatility has prompted investors to consider other investment prospects, notably commodities and their related equities and Exchange Traded Funds. <\/b>Commodity prices (S&amp;P Commodity iShares: symbol; GSG) recording short term technical bottoms last week included gold, silver, natural gas, corn and soybeans. Strength in Commodity prices was prompted by news that the Peoples Bank of China has taken monetary steps to rejuvenate the Chinese economy. Chinese demand for commodities is expected to strengthen.<\/p>\n<p><a href=\"http:\/\/charts.equityclock.com\/seasonal_charts\/compare\/DJIA_Election_Year.PNG\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image014\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image014\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image014-13.png\" width=\"628\" height=\"457\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><b>S&amp;P 500 from November 5<sup>th<\/sup> 2000 to January 5<sup>th<\/sup> 2001<\/b><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image015-8.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image015\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image015\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image015_thumb-8.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Technical Notes for Friday<\/strong><\/font><\/p>\n<p><b>Canadian Dollar<\/b> $XDC moved below US71.98 and touched US71.94, reaching a two year low.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image016-9.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image016\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image016\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image016_thumb-9.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><b>NASDAQ Composite Index<\/b> briefly moved above 18,671.07 on Friday to an all-time high extending an intermediate uptrend.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image017-8.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image017\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image017\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image017_thumb-8.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><b>Consumer Discretionary<\/b> SPDRs $XLY moved above $201.90 resuming an intermediate uptrend.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image018-6.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image018\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image018\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image018_thumb-6.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><b>Capital One Financial<\/b> $COF an S&amp;P 100 stock moved above $167.50 to an all-time high extending an intermediate uptrend.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image019-5.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image019\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image019\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image019_thumb-5.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><b>Colgate Palmolive<\/b> $CL an S&amp;P 100 stock moved below $97.36 extending an intermediate downtrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image020-4.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image020\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image020\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image020_thumb-4.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p><b>Capped REIT iShares <\/b>$XRE.TO moved below $16.65 completing a double top pattern<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image021-3.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image021\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image021\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image021_thumb-3.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>Links offered by valued providers<\/strong><\/font><\/p>\n<p><b>The stock market is about to tell you who will win the election: Jon Najurian<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=WDfuPMzz6mc\">The stock market is about to tell you who will win the election \u2013 YouTube<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Expect the market to appreciate after the election, says Sand Hill\u2019s Brenda Vingiello<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=pB1DoIGF7Vw\">Expect the market to appreciate after the election, says Sand Hill\u2019s Brenda Vingiello \u2013 YouTube<\/a><\/p>\n<p>&#160;<\/p>\n<p><b><\/b><\/p>\n<p><b>Tesla Sparks Rally Ahead of Mag7 Earnings: Apple, Microsoft &amp; Google Next To Report<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=toeuiHhzyI8\">https:\/\/www.youtube.com\/watch?v=toeuiHhzyI8<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Michael Campbell\u2019s Money Talks for October 26<sup>th<\/sup> <\/b><\/p>\n<p><a href=\"https:\/\/mikesmoneytalks.ca\/Podcasts\/\">Michael Campbell\u2019s MoneyTalks \u2013 Complete Show (mikesmoneytalks.ca)<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Why the S&amp;P 500 Won&#8217;t Break 6000 (Yet): David Keller<\/b><\/p>\n<p><a href=\"https:\/\/stockcharts.com\/articles\/mindfulinvestor\/2024\/10\/why-the-sp-500-wont-break-6000-644.html\">Why the S&amp;P 500 Won&#8217;t Break 6000 (Yet) | The Mindful Investor | StockCharts.com<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Earnings Season? Trade Gaps Like a PRO: Mary Ellen McGonagle<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=YEPHn23zwXc\">https:\/\/www.youtube.com\/watch?v=YEPHn23zwXc<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Weekly Update with Larry Berman &#8211; Oct 26, 2024<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=Czug3aV-boU\">https:\/\/www.youtube.com\/watch?v=Czug3aV-boU<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Should We Be Cheering Bank Rate Cuts? Bob Hoye<\/b><\/p>\n<p><a href=\"https:\/\/www.howestreet.com\/2024\/10\/should-we-be-cheering-bank-rate-cuts-bob-hoye\/\">Should We Be Cheering Bank Rate Cuts? \u2013 HoweStreet<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Trading Desk Notes for October 26, 2024: Victor Adair<\/b><\/p>\n<p><a href=\"https:\/\/www.howestreet.com\/2024\/10\/trading-desk-notes-for-october-26-2024\/\">Trading Desk Notes for October 26, 2024 \u2013 HoweStreet<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>This Week in Money: Ross Clark, Eric Hadik, Mark Leibovit<\/b><\/p>\n<p><a href=\"https:\/\/www.howestreet.com\/2024\/10\/gold-silver-oil-cycles-brics-inflation-eric-hadik-mark-leibovit-ross-clark-this-week-in-money\/\">This Week in Money \u2013 HoweStreet<\/a><\/p>\n<p>&#160;<\/p>\n<p><b>Technical Scoop for October 28<sup>th<\/sup> by David Chapman and <\/b><a href=\"http:\/\/www.EnrichedInvesting.com\"><b>www.EnrichedInvesting.com<\/b><\/a><b> <\/b><\/p>\n<p><a href=\"https:\/\/enrichedinvesting.com\/library\/\">https:\/\/enrichedinvesting.com\/library\/<\/a><\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>S&amp;P 500 Momentum Barometers<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image022-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image022\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image022\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image022_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The intermediate term Barometer dropped another 5.20 on Friday and plunged 19.80 last week to 57.40. It changed from Overbought to Neutral on a drop below 60.00. Daily trend is down.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image023-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image023\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image023\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image023_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The long term Barometer dropped 0.60 on Friday and fell 7.40 last week. It remains Overbought. Daily trend has turned down.<\/p>\n<p>&#160;<\/p>\n<p><font size=\"5\"><strong>TSX Momentum Barometers<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image024-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image024\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image024\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image024_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The intermediate term Barometer dropped 5.38 on Friday and plunged 10.76 last week to 69.51. It remains Overbought. Daily trend has turned down.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image025-1.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image025\" style=\"border-left-width: 0px; border-right-width: 0px; background-image: none; border-bottom-width: 0px; padding-top: 0px; padding-left: 0px; display: inline; padding-right: 0px; border-top-width: 0px\" border=\"0\" alt=\"clip_image025\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2024\/10\/clip_image025_thumb-1.png\" width=\"464\" height=\"288\" \/><\/a><\/p>\n<p>The long term Barometer slipped 0.45 on Friday and dropped 1.79 last week to 78.48. It remains Overbought.<\/p>\n<p><b><\/b><\/p>\n<p><em><b>Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n<p><a href=\"http:\/\/www.equityclock.com\"><em>www.equityclock.com<\/em><\/a><em> 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":"<p>&#160; The Bottom Line Key focuses this week are on third quarter results released by some of the largest U.S. companies including: Ford on Monday Alphabet, McDonalds and Pfizer on Tuesday Microsoft and Eli Lily on Wednesday Apple and Amazon on Thursday Exxon Mobil and Chevron on Friday Volatility in U.S. equity markets (measured by [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-180845","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180845","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=180845"}],"version-history":[{"count":3,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180845\/revisions"}],"predecessor-version":[{"id":180848,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180845\/revisions\/180848"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=180845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=180845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=180845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}