{"id":181601,"date":"2024-11-24T14:36:16","date_gmt":"2024-11-24T19:36:16","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=181601"},"modified":"2024-11-25T08:47:44","modified_gmt":"2024-11-25T13:47:44","slug":"tech-talk-for-monday-november-25th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/11\/24\/tech-talk-for-monday-november-25th-2024\/","title":{"rendered":"Tech Talk for Monday November 25th 2024"},"content":{"rendered":"

Pre-opening Comments for Monday November 25th<\/sup><\/strong><\/font><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 30 points at 8:30 AM EST.<\/p>\n

Canadian energy stocks and related Exchange Traded Funds<\/b> are expected to open higher after President Elect Trump said that he is ready to revive construction of the Keystone XL pipeline.<\/p>\n

\"clip_image001\"<\/a><\/p>\n

Robinhood Markets<\/b> advanced $1.41 to $38.15 after Morgan Stanley upgraded the stock to buy.<\/p>\n

\"clip_image002[8]\"<\/a><\/p>\n

Bath and Body Works<\/b> advanced $3.18 to $33.89 after reporting higher than consensus quarterly revenues.<\/p>\n

\"clip_image003\"<\/a><\/p>\n

Target<\/b> gained $1.49 to $126.50 after Oppenheimer upgraded the stock to a Top Pick.<\/p>\n

\"clip_image004[4]\"<\/a><\/p>\n

EquityClock\u2019s Stock Market Outlook for November 25th<\/sup><\/strong><\/font><\/p>\n

Stocks tend to gain during the US Thanksgiving week and the liquidity backdrop in the market is supportive of this positivity now and through year-end. See:<\/b><\/p>\n

https:\/\/equityclock.com\/2024\/11\/23\/stock-market-outlook-for-november-25-2024\/<\/a><\/p>\n

Technical Scoop for November 25th<\/sup> from David Chapman and <\/strong><\/font>www.EnrichedInvesting.com<\/strong><\/font><\/a><\/p>\n

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

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

Quiet week for North American equity markets this week!<\/b> Historically, U. S. equity indices have moved higher on the day before and the day after the U.S. Thanksgiving day holiday. That\u2019s when market makers are on holidays and individual investors have greater influence on equity prices. Thanksgiving Day in the U.S. is held this year on Thursday November 28th<\/sup><\/p>\n

<\/sup><\/p>\n

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 continued to wind down.<\/b> Ninety five percent (475 companies) have reported to date. Thanks to higher than consensus results last week from Nvidia, analysts were prompted to raise slightly their S&P 500 third quarter earnings estimate. Consensus now calls for a 5.8% year-over-year earnings increase (up from 5.3% last week) and a 5.6% year-over-year revenue increase (up from 5.5% last week)<\/p>\n

Earnings and revenue gains accelerate in the fourth quarter, but at a slightly lower rate. <\/b>Consensus calls for a 12.0% earnings increase (down from 12.1% last week) and a 4.7% revenue increase (down from 4.8% last week).<\/p>\n

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

Consensus for earnings gains in the first half of 2025 remains elevated and increased last week.<\/b> First quarter earnings are expected to increase 12.7 % on a year-over-year basis (up from 12.1% last week) and revenues are expected to increase 5.2%. Second quarter earnings are expected to increase 12.1% (up from 12.0% last week) and revenues are expected to increase 5.7% (up from 5.5% last week)<\/p>\n

Earnings gains are expected to accelerate in the second half of 2025<\/b>. For all of 2025 earnings are expected to increase 15.0% and revenues are expected to increase 5.7%.<\/p>\n

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

October U.S. New Home Sales<\/b> are released at 10:00 AM EST on Tuesday<\/p>\n

FOMC Meeting Minutes<\/b> are released at 2:00 PM EST on Tuesday<\/p>\n

October U.S. Durable Goods Orders<\/b> are released at 8:30 AM EST on Wednesday<\/p>\n

Third quarter U.S. annualized third quarter GDP<\/b> is released at 8:30 AM EST on Wednesday<\/p>\n

October Core PCE Price Index<\/b> is released at 10:00 AM EST on Wednesday<\/p>\n

October U.S. Personal Spending<\/b> is released at 10:00 AM EST on Wednesday October U.S. Personal Income<\/b> also is released at 10:00 AM EST<\/p>\n

September Canadian GDP<\/b> is released at 8:30 AM EST on Friday<\/p>\n

November Chicago Purchasing Managers Index <\/b>is released at 9:45 AM EST on Friday.<\/p>\n

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

\"clip_image002\"<\/a><\/p>\n

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

\"clip_image002[6]\"<\/a><\/p>\n

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

Daily Seasonal\/Technical Equity Trends for November 22nd<\/sup> 2024<\/p>\n

\"clip_image006\"<\/a><\/p>\n

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

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

Daily Seasonal\/Technical Commodities Trends for November 22nd<\/sup> 2024<\/p>\n

\"clip_image008\"<\/a><\/b><\/p>\n

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

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

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

Daily Seasonal\/Technical Sector Trends for November 22nd<\/sup> 2024<\/p>\n

\"clip_image010\"<\/a><\/p>\n

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

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

Chart of the Day: Dow Jones Industrial Average<\/strong><\/font><\/p>\n

The Average closed on Friday at an all-time closing high. Technical score increased on Friday from 4 to 6 when strength relative to the S&P 500 Index turned positive. Seasonal influences are favourable until January 6th<\/sup><\/p>\n

\"clip_image011\"<\/a><\/p>\n

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

\"clip_image013\"<\/a><\/b><\/p>\n

<\/p>\n

<\/strong><\/p>\n

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

U.S bank stocks led the advance by broadly based U.S. equity indices last week. JP Morgan<\/b> $JPM a Dow Jones Industrial Average stock led the advance on Friday on a move above $248.00 to an all-time high.<\/p>\n

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

Copart<\/b> $CPRT a NASDAQ 100 stock moved above $58.58 to an all-time high extending an intermediate uptrend. <\/p>\n

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

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

Atlassian <\/b>$TEAM a NASDAQ 100 stock moved above $258.69 extending an intermediate uptrend. <\/p>\n

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

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

Nvidia Results Will Spur a Santa Claus Rally, Ives Says<\/b><\/p>\n

Nvidia Results Will Spur a Santa Claus Rally, Ives Says \u2013 YouTube<\/a><\/p>\n

Michael Campbell\u2019s Money Talks for November 23rd<\/sup> 2024<\/b><\/p>\n

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

Weekly Update with Larry Berman – November 23, 2024<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=INlt4zzmT4w<\/a><\/p>\n

Will 2024 End With a Bang Like 2021? Hindenburg Omen Alert! David Keller<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=Ek3wj00jknI<\/a><\/p>\n

These Old School Stocks Have Joined The AI Rally! Mary Ellen McGonagle<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=twZrE476KzM<\/a><\/p>\n

Are the Stock Markets Getting Too Hot? Bob Hoye<\/b><\/p>\n

Are the Stock Markets Getting Too Hot? \u2013 HoweStreet<\/a><\/p>\n

Trump Victory Powering Optimism in Most Sectors: Mark Leibovit<\/b><\/p>\n

Trump Victory Powering Optimism in Most Sectors \u2013 HoweStreet<\/a><\/p>\n

Trading Desk Notes for November 23, 2024: Victor Adair<\/b><\/p>\n

Trading Desk Notes for November 23, 2024 \u2013 HoweStreet<\/a><\/p>\n

Crude Oil War Premium Expands As Ukraine Fires Longer Range US Missiles Into Russia<\/b>: Josef Schachter<\/b><\/p>\n

Crude Oil War Premium Expands As Ukraine Fires Longer Range US Missiles Into Russia \u2013 HoweStreet<\/a><\/p>\n

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

\"clip_image017\"<\/a><\/p>\n

The intermediate term Barometer added 2.20 on Friday and gained 8.20 last week to 63.20. It changed from Neutral to Overbought on a recovery above 60.00.<\/p>\n

\"clip_image018\"<\/a><\/p>\n

The long term Barometer added 1.12 on Friday and gained 3.60 last week to 72.20. It remains Overbought.<\/p>\n

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

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

The intermediate term Barometer was unchanged on Friday and gained 14.38 last week to 63.93. It changed from Neutral to Overbought on a recovery above 60.00.<\/p>\n

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

The long term Barometer was unchanged on Friday and gained 6.25 last week to 75.34. 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 Monday November 25th U.S. equity index futures were higher this morning. S&P 500 futures were up 30 points at 8:30 AM EST. Canadian energy stocks and related Exchange Traded Funds are expected to open higher after President Elect Trump said that he is ready to revive construction of the Keystone XL pipeline. […]<\/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-181601","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181601","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=181601"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181601\/revisions"}],"predecessor-version":[{"id":181611,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181601\/revisions\/181611"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=181601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=181601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=181601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}