A wild time for North American equity markets following U.S. Presidential Mid-term Elections last Tuesday!<\/b> The VIX Index, the primary measure of volatility in U.S. equity markets, spiked from 18.0% on Tuesday to as high 28.18% on Thursday before easing slightly on Friday following release of an encouraging U.S. October employment report.<\/p>\n
Despite weakness by the U.S. technology sector (XLK down 8.2 % last week), the S&P 500 Equal Weight ETF (RSP) only slipped 1.04 % and the TSX Composite Index (TSX) added 0.47% last week. Historically, both equity markets have moved higher from just after U.S. Mid-term Elections until at least the following January. Will history repeat? <\/p>\n Earnings and Revenue Consensus for S&P 500 companies<\/font> <\/b><\/p>\n (Source: www.FactSet.com<\/a> )<\/p>\n Analysts made slight increases to their 2026\/2027 earnings and revenue estimates last week: Eighty eight percent of S&P 500 companies have reported third quarter results to date: <\/b><\/p>\n \u00b7 Consensus for third quarter 2026 earnings gains increased to 31.4% from 30.2%. Consensus for revenue gains increased to 13.6% from 13.4%.<\/p>\n \u00b7 Consensus for fourth quarter 2026 earnings gains remained at 28.4%. Consensus for revenue gains increased to 13.6% from13.1%.<\/p>\n \u00b7 For all of 2026, consensus for earnings gains increased to 33.3% from 32.9%. Consensus for revenue gains increased to 13.2% from 13.0%.<\/p>\n Consensus for earnings and revenue gains into 2027 mostly increased slightly last week.<\/b><\/p>\n \u00b7 For first quarter 2027, consensus for earnings gain increased to 19.5% from 19.2%. Consensus for revenue gains increased to 12.2% from 12.0%<\/p>\n \u00b7 For second quarter 2027, consensus for earnings gains increased to 3.0% from 2.8%. Consensus for revenue gains increased to 8.2% from 8.0%<\/p>\n \u00b7 For all of 2027, consensus for earnings gains slipped to 16.1% from 16.3%. Consensus for revenue gains increase to 9.8% from 9.6%. <\/p>\n Economic News This Week<\/font><\/b><\/p>\n Source: www.Marketwatch.com<\/a><\/p>\n October U.S. Consumer Price Index<\/b> released at 8:30 AM EST on Tuesday is expected to increase 0.2% versus a 0.6% increase in September. Excluding food and energy, October CPI is expected to increase 0.2% versus a 0.3% increase in September. <\/p>\n October U.S. Existing Home Sales<\/b> released at 10:00 AM EST on Thursday are expected to be 3.98 million units versus 3.99 million units in September.<\/p>\n October U.S. Producer Price Index<\/b> released at 8:30 AM EST on Friday is expected to increase 0.4% versus a 1.3% increase in September. Excluding food and energy, October PPI is expected to increase 0.3% versus a 0.7% increase in September.<\/p>\n <\/b><\/p>\n Selected Earnings News This Week<\/font><\/b><\/p>\n Source: www.Marketwatch.com<\/a><\/p>\n Quieter week!<\/b> Only 13 S&P 500 companies are scheduled to report (including one Dow Jones Industrial Average company: Cisco). Five TSX 60 companies are scheduled to report.<\/p>\n Bolded stocks are TSE 60 companies<\/i><\/b><\/p>\n <\/em><\/strong><\/i><\/p>\n Trader\u2019s Corner<\/font><\/b><\/p>\n <\/font><\/strong><\/p>\n Equity Indices and Related ETFs<\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n Commodities<\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n <\/font><\/b><\/p>\n Sectors <\/font><\/b><\/p>\n <\/b><\/p>\n <\/b><\/p>\n <\/b><\/p>\n Changes Last Week<\/font><\/b><\/p>\n <\/strong><\/p>\n <\/font><\/b><\/p>\n Technical Notes<\/font><\/b><\/p>\n Microchip Technologies<\/b> (MCHP) a NASDAQ 100 stock moved below $68.75 and $58.66 extending an intermediate downtrend. <\/p>\n Saputo <\/b>(SAP.TO) a TSX 60 stock moved above Cdn$44.75 to an all-time high extending an intermediate uptrend. <\/p>\n Links offered by valued providers<\/font><\/b><\/p>\n Michael Campbell\u2019s Money Talks for November 7th<\/sup> <\/b><\/p>\n MMT Podcast | Mike’s MoneyTalks (mikesmoneytalks.ca)<\/a><\/p>\n The VIX Spiked 70%: Is a Market Rebound Around the Corner? Mary Ellen McGonagle<\/b><\/p>\n The VIX Spiked 70%: Is a Market Rebound Around the Corner? (stockcharts.com)<\/a><\/p>\n <\/b><\/p>\n Mark Leibovit: AI Stocks Have Perhaps Their Worst Day Ever – Nov. 5, 2026<\/b><\/p>\n Turbulent Markets Expected The Rest Of The Year<\/b><\/p>\n Mark Leibovit: AI Stocks Have Perhaps Their Worst Day Ever – Nov. 5, 2026 (substack.com)<\/a><\/p>\n AI Bubble Crash Yields Epic Buying Opportunity, Panic Is A Buy Signal, Gold, Silver, Bitcoin, Oil: Verified Investing<\/b><\/p>\n AI Bubble Crash Yields Epic Buying Opportunity, Panic Is A Buy Signal, Gold, Silver, Bitcoin, Oil \u2013 YouTube<\/a><\/p>\n Fairlead’s Katie Stockton on market selloff: Don’t sell weakness, sell the strength<\/b><\/p>\n Fairlead’s Katie Stockton on market selloff: Don’t sell weakness, sell the strength \u2013 YouTube<\/a><\/p>\n Bob Hoye: Junk Bond Junkies Stung by Bond Collapses – Nov. 6, 2026<\/b><\/p>\n https:\/\/talkdigitalnetwork.substack.com\/p\/bob-hoye-junk-bond-junkies-stung<\/a><\/p>\n This Week in Money: Ross Clark, Rick Ackerman, Kerry Lutz<\/b><\/p>\n https:\/\/talkdigitalnetwork.substack.com\/p\/this-week-in-money-november-6-2026<\/a><\/p>\n Panic Selling in AI and Semiconductors Creates Opportunities Elsewhere: Tom Bowley<\/b><\/p>\n Panic Selling in AI and Semiconductors Creates Opportunities Elsewhere (stockcharts.com)<\/a><\/p>\n The S&P 500 Is Breaking Down. These Three Stocks Are Not.: Dave Keller<\/b><\/p>\n The S&P 500 Is Breaking Down. These Three Stocks Are Not. (stockcharts.com)<\/a><\/p>\n S&P 500 Momentum Barometers<\/font><\/b><\/p>\n The intermediate term Barometer dropped 0.60 on Friday but added 0.40 last week to 62.00. It remained Overbought. Daily downtrend was extended on Friday.<\/p>\n The short term (20 days) Barometer dropped 3.80 on Friday and 9.80 last week to 61.20. It remained Overbought. Daily downtrend was extended on Friday.<\/p>\n The long term Barometer dropped 2.40 on Friday and dropped 2.60 last week to 58.80. It changed from Overbought to Neutral on a move below 60.00. Daily downtrend was extended on Friday.<\/p>\n TSX Momentum Barometers<\/font><\/b><\/p>\n The intermediate term Barometer added 0.93 on Friday and dropped 3.49 last week to 50.00. It remained Neutral.<\/p>\n![\"image\"](\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/11\/image-10.png\" "\\"image\\"")
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