Tech Talk for Wednesday November 3rd 2021

November 3, 2021

2 minute read

by Don Vialoux, EquityClock.com

Technical Notes released yesterday at

Small-caps breakout, providing a strong argument to be risk-on in investment portfolios. equityclock.com/2021/11/01/… $IWM $RUT $VTWO $IWN $IWO

Incyte $INCY a NASDAQ 100 stock moved below $64.08 extending an intermediate downtrend.

Goldman Sachs $GS an S&P 100 stock moved above $418.73 to an all-time high extending an intermediate uptrend.

Materials SPDRs $XLB moved above intermediate resistance at $86.25. Seasonality is strongly favourable to the first week in January. If a subscriber to equityclock.com/ see: charts.equityclock.com/mate…

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Nov.2^nd 2021

Green: Increase from previous week

Red: Decrease from previous week

Commodities

Daily Seasonal/Technical Commodities Trends for Nov.2^nd 2021

Green: Increase from previous week

Red: Decrease from previous week

Sectors

Daily Seasonal/Technical Sector Trends for Nov.2^nd 2021

Green: Increase from previous week

Red: Decrease from previous week

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)

Seasonality Chart of the Day from www.EquityClock.com

Seasonal influences for Canada’s six largest banks represented by ZEB.TO are strongly positive on a real and relative basis until the end of November when banks report fourth quarter results

Units are moving higher partially in anticipation later this month of expected reduction or elimination of current OSFI restrictions on dividend payouts and share buybacks.

S&P 500 Momentum Barometer

The intermediate term Barometer added 3.21 to 69.28 yesterday. It remains Overbought and continues to trend up.

The long term Barometer slipped 1.81 to 72.89 yesterday. It remains Overbought.

TSX Momentum Barometer

The intermediate term Barometer added 1.16 to 62.62 yesterday. It remains Overbought.

The long term Barometer slipped 1.29 to 63.59 yesterday. It remains 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

This post was originally publised at Vialoux's Tech Talk.

Author

Don Vialoux, EquityClock.com

Don Vialoux is the author of free daily reports on equity markets, sectors, commodities and Exchange Traded Funds. All of the views expressed herein are his personal views although they may be reflected in positions or transactions in the various client portfolios. Daily reports are available at http://www.timingthemarket.ca.