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Tech Talk for Thursday November 2nd 2017

 

Observation

The Federal Reserve’s announcement on interest rates released yesterday at 2:00 PM EDT was a non-event for markets.

 

StockTwits Released Yesterday @EquityClock

Construction season comes to an end with weakest year-to-date performance since 2010; down 1.4% in September. $MACRO

Early breakouts dominated by energy stocks: $APC $XEL $CXO $DVN

Oil and Gas Exploration SPDRs $XOP moved above $34.69 extending an intermediate uptrend.

Fertilizer ETF $SOIL moved above $10.35 extending an intermediate uptrend. ‘Tis the season for strength!

First Trust Global Auto ETF $CARZ moved above $41.97 to an all-time high extending an intermediate uptrend.

Tech action by 10:00: Mixed. Breakouts: $WYNN $APC $XEC $CXO $DVN 4MUR $PXD $VRSK $HOLX. Breakdowns: $ZBH $NLSN $CTSH $FISV $PPL $EVHC $UHS

Canadian energy stock and ETF breakouts: $SU.CA $$ZJN.CA $TOU.CA

Energy SPDRs $XLE moved above $68.98 extending an intermediate uptrend.

First Trust Natural Gas ETF $FCG moved above $22.06 completing a Head & Shoulders reversal pattern.

Emerging markets iShares $EEM moved above $46.82 to an all-time high extending an intermediate uptrend.

Goldman Sachs $GS, a Dow Jones Industrial stock moved above $247.07 extending an intermediate uptrend.

Franco-Nevada $FNV.CA, a TSX 60 stock moved above $103.76 extending an intermediate uptrend.

U.S. Telecommunications iShares $IYZ moved below $29.50 extending an intermediate downtrend.

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for November 1st 2017

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for November 1st 2017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

 

Daily Seasonal/Technical Sector Trends for November 1st 2017

Green: Increase from previous day

Red: Decrease from previous day

 

S&P Momentum Barometer

The Barometer added 0.46 to 68.40 yesterday. It remains intermediate overbought and trending down.

 

TSX Momentum Barometer

The Barometer dropped 2.89 to 69.42 yesterday. It remains intermediate overbought and showing signs of turning down.

 

Disclaimer: Seasonality and technical ratings offered in this report and www.equityclock.com 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