by Don Vialoux, EquityClock.com
Technical Notes released on Wednesday at
As the financial sector bounces from levels of previous resistance, now support, we are seeing encouraging data on loan growth for October. equityclock.com/2021/11/23/… $XLF $VFH $IYF $KIE $IAK $KBE $KRE
Mexico iShares $EWW moved below $46.19 completing a Head & Shoulders pattern
Electronic Arts $EA a NASDAQ 100 stock moved below $124.88 extending an intermediate downtrend.
Autodesk $ADSK a NASDAQ 100 stock moved below $271.09 setting an intermediate downtrend.
Skywork Solutions $SWKS a NASDAQ 100 stock moved below $153.99 extending an intermediate downtrend.
Okta $OKTA a NASDAQ 100 stock moved below $209.65 extending an intermediate downtrend.
Corn ETN $CORN moved above $21.71 and $21.85 extending an intermediate uptrend. Seasonal influences turn positive in early December and peak in mid-March. If a subscriber to EquityClock, see: https://charts.equityclock.com/corn-futures-c-seasonal-chart
Suncor $SU.CA a TSX 60 stock moved above Cdn$33.44 extending an intermediate uptrend. Seasonal influences are favourable between now and at least early March. If a subscriber to EquityClock, see: https://charts.equityclock.com/suncor-energy-inc-tsesu-seasonal-chart
Technical Notes release yesterday at
Canadian Energy iShares $XEG.CA moved above $11.06 to a three year high extending an intermediate uptrend. Seasonal influences on a real and relative basis are favourable to mid-April. If a subscriber to EquityClock, see: https://charts.equityclock.com/ishares-sptsx-capped-energy-index-etf-tsexeg-seasonal-chart
Canadian Natural Resources $CNQ.CA a TSX 60 stock moved above Cdn$55.19 to an all-time high extending an intermediate uptrend. Seasonal influences on a real and relative basis are favourable to late April. If a subscriber to EquityClock, see: https://charts.equityclock.com/canadian-natural-resources-limited-tsecnq-seasonal-chart
More reason to ignore seasonal adjustments: Headlines point to a sharp drop in initial jobless claims last week, sending the tally to the lowest level since 1969. Stripping out the manipulation, we are seeing the largest one week increase in claims in over a month as the year-to-date change starts to flat-line. Initial claims actually sit at 258,622, up 18,187 from the week prior. $MACRO $STUDY $ECONOMY $EMPLOYMENT
REITs starting to perk up now that their period of seasonal weakness has come to an end. equityclock.com/2021/11/24/… $IYR $XLRE $VNQ
Interfor $IFP.CA moved above Cdn$34.24 extending an intermediate uptrend. ‘Tis the season for strength in Interfor as well as other North American forest product stock. Seasonal influences are favourable between now and next April. If a subscriber to EquityClock, see
https://charts.equityclock.com/interfor-corp-tseifp-seasonal-chart
Telus $T.CA a TSX 60 stock moved above $29.68 to an all-time high extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Nov.24th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Nov.24th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Nov.25th 2021
Green: Increase from previous day
Red: Decrease from previous day
All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX).
Early Bird price is $199 versus regular price at $249.
Links Offered by Valued Providers
Thank you to Mark Bunting and www.uncommonsenseinvestor.com for links to the following:
The rise of Chinese bonds
Uncommon Sense Investor, Author at Uncommon Sense Investor
Why China’s regime could topple quickly
Why China’s Regime Could Topple Quickly – Uncommon Sense Investor
S&P 500 Momentum Barometers
for November 24th
The intermediate term Barometer slipped 0.60 to 67.74 on Wednesday. It remains Overbought and trending down.
The long term Barometer eased 0.80 to 72.95 on Wednesday. It remains Overbought and trending down.
TSX Momentum Barometers for November 25th
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
