{"id":180916,"date":"2024-10-30T02:22:00","date_gmt":"2024-10-30T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=180916"},"modified":"2024-10-30T08:48:16","modified_gmt":"2024-10-30T12:48:16","slug":"tech-talk-for-wednesday-october-30th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/10\/30\/tech-talk-for-wednesday-october-30th-2024\/","title":{"rendered":"Tech Talk for Wednesday October 30th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday October 30th<\/sup> <\/strong><\/font><\/em><\/p>\n

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

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

Index futures were unchanged following release of third quarter GDP at 8:30 AM EDT.<\/b> Consensus calls for a 3.1% annualized growth rate versus a 3.0% growth rate in the second quarter. Actual was 2.8%. <\/em><\/p>\n

Chipotle<\/b> dropped $2.20 to $58.19 after reporting less than consensus third quarter revenues. <\/em><\/p>\n

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

Visa<\/b> gained $6.56 to $288.44 after reporting higher than consensus fiscal fourth quarter earnings. The company also raised its dividend from $0.53 to $0.59 per share. <\/em><\/p>\n

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Advanced Micro Devices<\/b> dropped $11.73 to $154.60 after offering fourth quarter guidance below consensus. <\/em><\/p>\n

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First Solar<\/b> plunged $9.27 to $190.40 after reporting less than consensus third quarter results. The company also lowered guidance for the fourth quarter. <\/em><\/p>\n

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

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

Outlook for October 30th<\/sup> <\/strong><\/font><\/em><\/p>\n

 <\/p>\n

Home prices are rolling over earlier than average head<\/b><\/em>ing into the Fall, a trajectory that bodes poorly for wealth creation through the back half of the year. See:<\/b> <\/em><\/p>\n

https:\/\/equityclock.com\/2024\/10\/29\/stock-market-outlook-for-october-30-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Alphabet<\/b> $GOOG moved above $170.44 and $GOOGL moved above $169.16 renewing an intermediate uptrend. After the close, the company reported higher than consensus third quarter revenues and earnings The stock added to gains after the close.<\/p>\n

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Consumer Staples SPDRs<\/b> $XLP moved below $80.47 completing a double top pattern.<\/p>\n

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American Tower<\/b> $AMT an S&P 100 stock moved below $215.43 completing a Head & Shoulders pattern.<\/p>\n

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Ross Stores <\/b>$ROST an S&P 100 stock moved below$138.91 extending an intermediate downtrend.<\/p>\n

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NextEra Energy<\/b> $NEE an S&P 100 stock moved below $79.66 completing a double top pattern.<\/p>\n

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Canadian Tire<\/b> $CTC.A. TO a TSX 60 stock completed a double top pattern on a move below Cdn$156.08.<\/p>\n

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BCE <\/b>$BCE.TO a TSX 60 stock moved below $44.83 setting an intermediate downtrend. <\/p>\n

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 <\/p>\n

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

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 <\/p>\n

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

Daily Seasonal\/Technical Equity Trends for October 29th<\/sup> 2024<\/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

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

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

Daily Seasonal\/Technical Commodities Trends for October 29th<\/sup> 2024<\/p>\n

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

Green: Increase from previous day<\/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 29th<\/sup> 2024<\/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

Top 5 Breadth Indicators You Can’t Afford to Ignore! David Keller<\/b><\/p>\n

Top 5 Breadth Indicators You Can’t Afford to Ignore! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

How Much Longer Can the Bull Market Run? Kevin Mahn<\/b><\/p>\n

How Much Longer Can the Bull Market Run? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Is Bitcoin A Buy Into The Election? What The Chart Says! Guy Adami, Dan Nathan and Carter Worth<\/b><\/p>\n

Is Bitcoin A Buy Into The Election? What The Chart Says! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped another 5.00 to 54.40. It remains Neutral. Daily trend continues down.<\/p>\n

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The long term Barometer dropped 1.20 to 72.60. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped another 1.35 to 69.51. It remains Overbought. Daily trend remains down.<\/p>\n

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The long term Barometer dropped 2.69 to 77.58. It remains Overbought.<\/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 Wednesday October 30th U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:35 AM EDT Index futures were unchanged following release of third quarter GDP at 8:30 AM EDT. Consensus calls for a 3.1% annualized growth rate versus a 3.0% growth rate in the second quarter. Actual […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-180916","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180916","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=180916"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180916\/revisions"}],"predecessor-version":[{"id":180926,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180916\/revisions\/180926"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=180916"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=180916"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=180916"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}