{"id":181206,"date":"2024-11-08T02:22:00","date_gmt":"2024-11-08T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=181206"},"modified":"2024-11-08T08:49:56","modified_gmt":"2024-11-08T13:49:56","slug":"tech-talk-for-friday-november-8th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/11\/08\/tech-talk-for-friday-november-8th-2024\/","title":{"rendered":"Tech Talk for Friday November 8th 2024"},"content":{"rendered":"

Pre-opening Comments for Friday November 8th<\/sup><\/strong><\/font><\/em><\/p>\n

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

U.S. equity index futures were mixed this morning<\/b>. S&P 500 futures down 2 points at 8:35 AM EST.<\/em><\/p>\n

The Canadian Dollar was unchanged at US71.90 cents following release of Canada\u2019s October Employment Report at 8:30 AM EST. <\/b>Consensus was a 27,200 increase versus a 46,700 gain in September. Actual was a 14,500 increase. Consensus was an increase in the Unemployment to 6.6% from 6.5% in September. Actual was unchanged at 6.5%.<\/em><\/p>\n

AirBNB<\/b> advanced $10.14 to $157.41 after reporting higher than consensus third quarter revenues.<\/em><\/p>\n

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Pinterest<\/b> dropped $4.19 to $29.75 after lowering guidance.<\/em><\/p>\n

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DraftKings<\/b> dropped $2.74 to $36.24 after lowering guidance.<\/em><\/p>\n

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Expedia <\/b>advanced $8.97 to $183.10 after raising its full year outlook.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Stock Market Outlook for November 8th<\/sup><\/strong><\/font><\/em><\/p>\n

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

The fundamentals surrounding Agriculture are failing to present a backdrop that is enticing to the seasonal trade in the industry through the end of the year. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/11\/07\/stock-market-outlook-for-november-8-2024\/<\/em><\/a><\/p>\n

 <\/p>\n

Responses to FOMC Announcement<\/strong><\/font><\/p>\n

At 2:00 PM EST yesterday, the FOMC lowered the Fed Fund Rate by 0.25% to 4.50%-4.75% Response to the news was as follow:<\/p>\n

S&P 500 recorded a modest gain after 2:00 PM<\/p>\n

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The U.S. Dollar ETN recorded a slight drop<\/p>\n

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20+ Treasury Bond ETF price was virtually unchanged<\/p>\n

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Bank SPDRs $KBE and $KRE moved lower<\/p>\n

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Gold prices moved modestly higher. Ditto for gold equity ETFs (e.g. GDX)<\/p>\n

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 <\/p>\n

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

Canada iShares<\/b> $EWC moved above US$42.17 to an all-time high extending an intermediate uptrend.<\/p>\n

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Global Base Metals iShares<\/b> $XBM.TO moved above Cdn$22.95 setting a new intermediate uptrend.<\/p>\n

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Match Group<\/b> $MTCH a NASDAQ 100 stock plunged below $33.37 completing a double top pattern. The company reported lower than consensus third quarter earnings.<\/p>\n

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American Electric Power<\/b> $AEP a NASDAQ 100 stock moved below $95.95 completing a Head & Shoulders pattern<\/p>\n

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Shopify<\/b> $SHOP.TO a TSX 60 stock moved above Cdn$115.93 extending an intermediate uptrend. <\/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 November 7th<\/sup> 2024<\/p>\n

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

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

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

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

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

Daily Seasonal\/Technical Commodities Trends for November 7th<\/sup> 2024<\/p>\n

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

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

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

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

Daily Seasonal\/Technical Sector Trends for November 7th<\/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

It\u2019s GAME ON for These Stocks: Joe Rabil<\/b><\/p>\n

It\u2019s GAME ON for These Stocks \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

What to expect in the first 100 days of Trump\u2019s 2nd term: CBC News<\/b><\/p>\n

What to expect in the first 100 days of Trump\u2019s 2nd term \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Trump\u2019s Victory Sent Stocks SOARING: Tom Bowley<\/b><\/p>\n

Trump’s Victory Sent Stocks SOARING \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Navigating the Post-Election Rally: Guy Adami, Dan Nathan and Carter Worth<\/b><\/p>\n

Navigating the Post-Election Rally \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

S&P 500 in a \u2018mania\u2019 as stock-market rally overshoots, says Wall Street bear<\/b><\/p>\n

https:\/\/www.marketwatch.com\/story\/s-p-500-in-a-mania-as-stock-market-rally-overshoots-says-wall-street-bear-eb83e771?mod=mw_pushly&send_date=20241107<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added another 2.00 to 64.50. It remains Overbought. Daily trend is up.<\/p>\n

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The long term Barometer slipped 0.20 to 74.40. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image021\"<\/a><\/p>\n

The intermediate term Barometer added another 4.81 to 68.33. It remains Overbought. Daily trend is up.<\/p>\n

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The long term Barometer added 1.69 to 76.02. 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 Friday November 8th U.S. equity index futures were mixed this morning. S&P 500 futures down 2 points at 8:35 AM EST. The Canadian Dollar was unchanged at US71.90 cents following release of Canada\u2019s October Employment Report at 8:30 AM EST. Consensus was a 27,200 increase versus a 46,700 gain in September. 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-181206","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181206","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=181206"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181206\/revisions"}],"predecessor-version":[{"id":181216,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181206\/revisions\/181216"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=181206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=181206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=181206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}