{"id":181519,"date":"2024-11-20T18:19:40","date_gmt":"2024-11-20T23:19:40","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=181519"},"modified":"2024-11-21T09:01:10","modified_gmt":"2024-11-21T14:01:10","slug":"tech-talk-for-thursday-november-21st-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/11\/20\/tech-talk-for-thursday-november-21st-2024\/","title":{"rendered":"Tech Talk for Thursday November 21st 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday November 21st<\/sup><\/strong><\/font><\/p>\n

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 31 points at 8:35 AM EST.<\/p>\n

S&P 500 futures added 8 points following release of the November Philly Fed Index<\/b> at 8:30 AM EST. Consensus was 6.3, down from 10.3 in October. Actual was -5.5<\/p>\n

Nvidia <\/b>dropped $2.44 to $143.45 despite reporting higher than consensus third quarter results and despite positive fourth quarter guidance. However, fourth quarter guidance was slightly less than consensus.<\/p>\n

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Snowflake<\/b> advanced $23.85 to $152.97 after reporting higher than consensus third quarter revenues. The company also offered positive fourth quarter guidance.<\/p>\n

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Dream Finders Homes<\/b> added $2.27 to $30.18 following its selection to join the S&P SmallCap 600 Index.<\/p>\n

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Deere <\/b>advanced $5.24 to $410.20 after reporting higher than consensus fiscal fourth quarter earnings.<\/p>\n

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EquityClock\u2019s Stock Market Outlook for November 21st<\/sup><\/strong><\/font><\/p>\n

Consumer loan activity remains depressed and this remains a burden on the housing market. See:<\/b><\/p>\n

https:\/\/equityclock.com\/2024\/11\/20\/stock-market-outlook-for-november-21-2024\/<\/a><\/p>\n

Response to article \u201cTiming the Market is for Suckers<\/em>\u201d released in the National Post on November 20th<\/sup> 2024<\/font><\/strong><\/p>\n

The following comment was emailed to letters@nationalpost.com<\/a><\/p>\n

The article is biased against investors who use \u201ctiming the market\u201d strategies to outperform equity markets. None of the best known Canadian proponents for market timing strategies were interviewed for the article including Hap Sneddon, president of Castlemoore, Jon Vialoux, author of the daily blog www.EquityClock.com<\/a>, Brooke Thackray, seasonality analyst at Horizons and myself, daily author of the free blog: www.timingthemarket.ca<\/a> \u201cTiming the market\u201d is not for everyone. It requires a disciplined approach including identification of securities with timely seasonal and technical momentum characteristics and including the use of prudent money management skills to minimize risk.<\/p>\n

Don Vialoux<\/p>\n

Author of the free daily blog: www.timingthemarket.ca<\/a><\/p>\n

Past President of the Canadian Society of Technical Analysts<\/p>\n

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

Target<\/b> $TGT an S&P 100 stock moved below $130.45 to $164.20 extending an intermediate downtrend. Responded to lower than consensus third quarter results!<\/p>\n

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Natural Gas ETN<\/b> $UNG moved above intermediate resistance at US$14.53. Canadian equivalent $HUN.TO also was notably higher. Responded to colder than average weather (including a snow storm) in mid-Canada and U.S.<\/p>\n

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

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

Daily Seasonal\/Technical Equity Trends for November 20th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/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

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

Daily Seasonal\/Technical Commodities Trends for November 20th<\/sup> 2024<\/p>\n

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

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

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

Daily Seasonal\/Technical Sector Trends for November 20th<\/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

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

Be ALERT for Warning Signs – S&P 500 Downturn: Joe Rabil<\/b><\/p>\n

Be ALERT for Warning Signs – S&P 500 Downturn \u2013 YouTube<\/a><\/p>\n

S&P 500 will hit 7,500 by 2026: Strategist<\/b><\/p>\n

S&P 500 will hit 7,500 by 2026: Strategist \u2013 YouTube<\/a><\/p>\n

Evercore\u2019s Emanuel Sees S&P 500 at 6,600 by Mid-2025<\/b><\/p>\n

Evercore\u2019s Emanuel Sees S&P 500 at 6,600 by Mid-2025 \u2013 YouTube<\/a><\/p>\n

The State of Retail Investing with Robinhood\u2019s Steve Quirk<\/b><\/p>\n

The State of Retail Investing with Robinhood\u2019s Steve Quirk \u2013 YouTube<\/a><\/p>\n

Bitcoin hits new record near $95,000 as investors monitor Trump transition: CNBC Crypto World<\/b><\/p>\n

Bitcoin hits new record near $95,000 as investors monitor Trump transition: CNBC Crypto World \u2013 YouTube<\/a><\/p>\n

CHART THIS with David Keller, CMT Wednesday 11\/20\/24<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=IWRv9o_hoFk<\/a><\/p>\n

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

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The intermediate term Barometer added 1.80 to 55.80. It remains Neutral.<\/p>\n

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The long term Barometer added 0.80 to 69.60. It remains Overbought.<\/p>\n

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

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The intermediate term Barometer added 0.27 to 58.90. It remains Neutral.<\/p>\n

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The long term Barometer slipped 0.58 to 72.15. It remains Overbought.<\/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 November 21st U.S. equity index futures were higher this morning. S&P 500 futures were up 31 points at 8:35 AM EST. S&P 500 futures added 8 points following release of the November Philly Fed Index at 8:30 AM EST. Consensus was 6.3, down from 10.3 in October. Actual was -5.5 Nvidia […]<\/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-181519","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181519","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=181519"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181519\/revisions"}],"predecessor-version":[{"id":181529,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181519\/revisions\/181529"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=181519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=181519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=181519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}