{"id":181249,"date":"2024-11-11T02:22:00","date_gmt":"2024-11-11T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=181249"},"modified":"2024-11-11T11:53:09","modified_gmt":"2024-11-11T16:53:09","slug":"tech-talk-for-monday-november-11th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/11\/11\/tech-talk-for-monday-november-11th-2024\/","title":{"rendered":"Tech Talk for Monday November 11th 2024"},"content":{"rendered":"

 <\/p>\n

The Bottom Line<\/strong><\/font><\/p>\n

All-time highs were recorded by broadly based U.S. equity indices following the election of Donald Trump as President.<\/b> On Friday, the S&P 500 Index exceeded the 6,000 level and the Dow Jones Industrial Average exceeded 44,000.<\/p>\n

U.S. equity index futures are tracking their historic seasonal pattern following a U.S. Presidential election <\/b>once a definite result has been determined. Historically, strength in indices has extended until the first week in January when specific plans proposed by the next President are revealed.<\/p>\n

Anticipation of strong and accelerating year-over-year earnings gains in the fourth quarter by S&P 500 companies also will help share prices between now and early January.<\/b><\/p>\n

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

Note that activity on North American equity markets on Monday is expected to be significantly lower than average due to a bank holiday.<\/b><\/p>\n

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Consensus for Earnings and Revenues by S&P 500 companies<\/strong><\/font><\/p>\n

Source: www.factset.com<\/a><\/p>\n

Frequency of third quarter corporate reports is winding down.<\/b> Ninety one percent (455 companies) have reported to date. Results released to date have prompted analysts to raise their earnings estimates slightly. Consensus calls for a 5.3% year-over-year earnings increase (up from 5.1% last week) and a 4.8% year-over-year revenue increase (down from 4.9% last week).<\/p>\n

Earnings and revenue gains accelerate in the fourth quarter, but at a slightly lower rate. <\/b>Consensus calls for a 12.2% earnings increase (down from a 12.7% increase last week) and a 4.8% revenue increase.<\/p>\n

For all of 2024<\/b>, consensus calls for a 9.4% earnings increase (up from 9.3% last week) and 5.1% revenue increase (up from 5.0% last week)<\/p>\n

Consensus for earnings gains in 2025 remains elevated, but at a slightly lower rate.<\/b> First quarter earnings are expected to increase 12.7 % on a year-over-year basis (versus a 13.0% increase last week) and revenues are expected to increase 5.3%. Second quarter earnings are expected to increase 11.9% (versus a 12.2% gain last week) and revenues are expected to increase 5.5%. For all of 2025 earnings are expected to increase 14.8% (versus a 15.1% increase last week) and revenues are expected to increase 5.7%.<\/p>\n

 <\/p>\n

Economic News This Week<\/strong><\/font><\/p>\n

October U.S. Consumer Price Index<\/b> released at 8:30 AM EST on Wednesday is expected to increase 0.2% versus a gain of 0.2% in September. Excluding food and energy, October CPI is expected to increase 0.3% versus a 0.3% gain in September.<\/p>\n

October U.S. Producer Price Index<\/b> released at 8:30 AM EST on Thursday is expected to increase 0.2% versus no changed in September<\/p>\n

November Empire State Manufacturing Survey<\/b> is released at 8:30 AM EST on Friday.<\/p>\n

October U.S. Retail Sales<\/b> are released at 8:30 AM EST on Friday.<\/p>\n

October U.S. Capacity Utilization<\/b> released at 9:15 AM EST on Friday is expected to slip to77.1% from 77.5% in September. October Industrial Production is expected to drop 0.4% versus a 0.3% decline in September.<\/p>\n

September Business Inventories<\/b> are released at 10:00 AM EST on Friday. <\/p>\n

 <\/p>\n

Selected Earnings News This Week<\/strong><\/font><\/p>\n

Another 12 S&P 500 companies<\/b> (including three Dow Jones Industrial Average companies: Home Depot, Cisco and Walt Disney) are scheduled to release quarterly results. In Canada, three TSX 60 companies <\/b>are expected to release results: Shopify, Suncor and Brookfield.<\/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

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Green: Increase from previous day<\/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<\/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><\/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 November 8th<\/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

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

Changes Last Week<\/strong><\/font><\/p>\n

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 <\/p>\n

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

Salesforce.com<\/b> $CRM a Dow Jones Industrial Average stock moved above $317.31 to an all-time high extending an intermediate uptrend.<\/p>\n

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UnitedHealth Group<\/b> $UNH a Dow Jones Industrial Average stock moved above $608.61 to an all-time high extending an intermediate uptrend.<\/p>\n

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Costco $<\/b>COST an S&P 100 stock moved above $922.60 to an all-time high extending an intermediate uptrend.<\/p>\n

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

Tesla<\/b> $TSLA a NASDAQ 100 stock moved above $299.29 extending an intermediate uptrend. <\/p>\n

\"clip_image016\"<\/a><\/p>\n

Intuit <\/b>$INTU an S&P 100 stock moved above $674.55 extending an intermediate uptrend.<\/p>\n

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Vertex<\/b> $VRTX a NASDAQ 100 stock moved above $510.64 to an all-time high extending an intermediate uptrend<\/p>\n

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 <\/p>\n

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

Michael Campbell\u2019s Money Talks for November 9th<\/sup> 2024<\/b><\/p>\n

Michael Campbell\u2019s MoneyTalks \u2013 Complete Show (mikesmoneytalks.ca)<\/a><\/p>\n

 <\/p>\n

How You Can Still Capitalize On This 2024 Bull Market – Buy This Now! Brian Belski<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=bGRs03IyO5A<\/a><\/p>\n

 <\/p>\n

Small caps could outperform by more than 100% in the next few years, says Fundstrat’s Tom Lee<\/b><\/p>\n

Small caps could outperform by more than 100% in the next few years, says Fundstrat’s Tom Lee \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

What’s Ahead After Pivotal Election, Fed Meeting Week: Schwab Network<\/b><\/p>\n

What’s Ahead After Pivotal Election, Fed Meeting Week \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Weekly Update with Larry Berman – November 9, 2024<\/b><\/p>\n

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

 <\/p>\n

Still room for junior miners to enjoy gold boom: Bob Hoye<\/b><\/p>\n

Still Room for Junior Miners to Enjoy Gold Boom \u2013 HoweStreet<\/a><\/p>\n

<\/u><\/p>\n

<\/u><\/p>\n

Fed Rate Cuts Not Lowering US Mortgage Rates: Mark Leibovit<\/b><\/p>\n

Fed Rate Cuts Not Lowering US Mortgage Rates \u2013 HoweStreet<\/a><\/p>\n

<\/u><\/p>\n

Trading Desk Notes for November 9, 2024: Victor Adair<\/b><\/p>\n

Trading Desk Notes for November 9, 2024 \u2013 HoweStreet<\/a><\/p>\n

 <\/p>\n

US & China Energy Consumption Falls. We See WTI Declining Below US$68\/b In The Coming Weeks: Josef Schachter<\/b><\/p>\n

US & China Energy Consumption Falls. We See WTI Declining Below US$68\/b In The Coming Weeks \u2013 HoweStreet<\/a><\/p>\n

 <\/p>\n

Sectors Expected to do Well Under Trump: Sean Brodrick<\/b><\/p>\n

Sectors Expected to do Well Under Trump \u2013 HoweStreet<\/a><\/p>\n

 <\/p>\n

Technical Scoop for Monday November 11th<\/sup> from David Chapman and <\/b>www.enrichedinvesting.com<\/b><\/a> <\/b><\/p>\n

https:\/\/enrichedinvesting.com\/library\/<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 0.80 on Friday and jumped 16.20 last week to 65.40. It changed from Neutral to Overbought on a move above 60.00. Daily trend is up.<\/p>\n

\"clip_image020\"<\/a><\/p>\n

The long term Barometer added 0.20 on Friday and gained 4.80 last week to 74.60. It remains Overbought<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 4.98 on Friday, but gained 7.04 last week to 63.35. It changed from Neutral to Overbought on a move above 60.00.<\/p>\n

\"clip_image022\"<\/a><\/p>\n

The long term Barometer added 0.45 on Friday and gained 3.50 last week to 76.47. 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":"

  The Bottom Line All-time highs were recorded by broadly based U.S. equity indices following the election of Donald Trump as President. On Friday, the S&P 500 Index exceeded the 6,000 level and the Dow Jones Industrial Average exceeded 44,000. U.S. equity index futures are tracking their historic seasonal pattern following a U.S. Presidential election […]<\/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-181249","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181249","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=181249"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181249\/revisions"}],"predecessor-version":[{"id":181251,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181249\/revisions\/181251"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=181249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=181249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=181249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}