{"id":180959,"date":"2024-10-31T02:22:00","date_gmt":"2024-10-31T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=180959"},"modified":"2024-10-31T08:53:26","modified_gmt":"2024-10-31T12:53:26","slug":"tech-talk-for-thursday-october-31st-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/10\/31\/tech-talk-for-thursday-october-31st-2024\/","title":{"rendered":"Tech Talk for Thursday October 31st 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday October 31st<\/sup> 2024<\/strong><\/font><\/em><\/p>\n

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U.S. equity index futures were lower this morning.<\/b> S&P 500 futures were down 37 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures slipped 3 points following release of September U.S. Personal Income<\/b> at 8:30 AM EDT. Consensus was a 0.4% increase versus a 0.2% gain in August. Actual was a 0.3% increase. Consensus for September U.S. Personal Spending<\/b> was a 0.4 increase versus a 0.2% gain in August. Actual was a 0.5% increase.<\/em><\/p>\n

The Canadian Dollar slipped 0.05 to US 71.85 cents following release of Canada\u2019s August GDP report <\/b>at 8:30 AM EDT. Consensus was unchanged versus a 0.2% gain in July. Actual was unchanged<\/em><\/p>\n

Microsoft<\/b> dropped $16.03 to $416.50 after reporting higher than consensus fiscal first quarter expenses. <\/em><\/p>\n

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Meta Platform<\/b> dropped $18.80 to $573.00 despite reporting higher than consensus third quarter earnings.<\/em><\/p>\n

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eBay <\/b>dropped $4.52 to $58.11 after reporting less than consensus third quarter revenues.<\/em><\/p>\n

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EquityClock\u2019s Stock Market Outlook for October 31st<\/sup><\/strong><\/font><\/em><\/p>\n

 <\/p>\n

Credit balances in margin accounts, indicative of short positions, showed the second strongest September increase on record, a monthly surge that typically bodes well for stocks. See: <\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/10\/30\/stock-market-outlook-for-october-31-2024\/<\/em><\/a><\/p>\n

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

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

Europe iShares<\/b> $IEV moved below intermediate support at $55.56.<\/p>\n

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Visa<\/b> $V a Dow Jones Industrial Average stock moved above $293.07 to an all-time high extending an intermediate uptrend<\/p>\n

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Cadence Design Systems<\/b> $CDNS a NASDAQ 100 stock moved above $287.47 resuming an intermediate uptrend. <\/p>\n

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Kraft Heinz<\/b> $KHC an S&P 100 stock moved below $33.91 completing a double top pattern.<\/p>\n

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Eli Lilly<\/b> $LLY an S&P 100 stock moved below $858.81 completing a double top pattern. The company reported less than consensus quarterly results. <\/p>\n

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CDW<\/b> $CDW a NASDAQ 100 stock moved below $205.36 extending an intermediate downtrend.<\/p>\n

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Pepsico<\/b> $PEP a NASDAQ 100 stock moved below $166.46 extending an intermediate downtrend.<\/p>\n

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American Electric Power<\/b> $AEC a NASDAQ 100 stock moved below $97.04 completing a double top pattern.<\/p>\n

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 <\/p>\n

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

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 <\/p>\n

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

Equity Indices and Related ETFs<\/strong><\/font><\/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 30th<\/sup> 2024<\/p>\n

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

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

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

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

Daily Seasonal\/Technical Sector Trends for October 30th<\/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

Time to shift from S&P 500 to TSX: Rosenberg Research<\/b><\/p>\n

Time to shift from S&P 500 to TSX: Rosenberg Research \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

A Simple Candle With BIG Meaning: Joe Rabil<\/b><\/p>\n

A Simple Candle With BIG Meaning \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Microsoft & Meta Earnings Preview: Guy Adami, Dan Nathan and Liz Young Thomas<\/b><\/p>\n

Microsoft & Meta Earnings Preview \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

CHART THIS with David Keller, CMT Wednesday 10\/30\/24<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=j_6p1LBGiO8<\/a><\/p>\n

 <\/p>\n

Gold versus Bitcoin: Carter Worth<\/b><\/p>\n

Crypto vs Gold!! #crypto #bitcoin #gold #stockmarketnews #investing #sp500 \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 0.20 to 54.60. It remains Neutral.<\/p>\n

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The long term Barometer slipped 0.60 to 72.00. It remains Overbought. Daily trend remains down.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped another 2.24 to 67.26. It remains Overbought. Daily trend remains down.<\/p>\n

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The long term Barometer slipped 0.45 to 77.13. It remains Overbought.<\/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 Thursday October 31st 2024 U.S. equity index futures were lower this morning. S&P 500 futures were down 37 points at 8:35 AM EDT. S&P 500 futures slipped 3 points following release of September U.S. Personal Income at 8:30 AM EDT. Consensus was a 0.4% increase versus a 0.2% gain in August. 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-180959","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180959","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=180959"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180959\/revisions"}],"predecessor-version":[{"id":180967,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/180959\/revisions\/180967"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=180959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=180959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=180959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}