Tech Talk for Tuesday November 10th 2020

Technical Notes from Monday November 9^th

S&P 500 Index moved above 3,588.11 to an all-time high extending its intermediate uptrend.

Dow Jones Industrial Average also moved to an all-time high extending an intermediate uptrend.

NASDAQ Composite Index also touched an all-time high, but subsequently came under profit taking pressures.

Breakouts above intermediate resistance levels by S&P 500 stocks were too numerous to include in this report. Breakouts by Sector SPDRs included XLY, XLI, XLF, XLE and XLP with XLY, XLI and XLP touching all-time highs.

Nikkei Average moved above $24,445.50 to a 29 year high at 24,839.84 extending an intermediate uptrend.

Funds for equity purchases came from the bond market.

Funds for equity purchases also came from precious metals. The Gold ETN (GLD) briefly moved below intermediate support at $173.77 extending an intermediate downtrend.

Selected ETFs that recorded above average gains yesterday

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 9^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 9^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 9^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Thank you to David Chapman and www.EnrichedInvesting.com for a link to this weekly report.

Headline reads,” Election challenges, gridlock love, considerable resistance, long bull, precious poise, dollar hit, oil nowhere”. Following is the link:

http://enrichedinvesting.com/wp-content/uploads/2020/11/Election-challenges-gridlock-love-considerable-resistance-long-bull-precious-poise-dollar-hit-oil-nowhere.pdf

S&P 500 Momentum Barometer

The Barometer added another 11.89 to 76.35 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added another 5.84 to 66.98 yesterday. It remains intermediate overbought.

Disclaimer: Seasonality and technical ratings offered in this report and at

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