Tech Talk for Friday November 5th 2021

U.S. equity index futures were higher this morning. S&P 500 futures were up 21 points in pre-opening trade.

Index futures moved higher following release of the U.S. October Employment Report at 8:30 AM EDT. Consensus for October Non-farm Payrolls was an increase of 450,000 versus an upwardly revised a gain of 312,000 in September. Actual was an increase of 531,000. Consensus for the October Unemployment Rate was 4.7% versus 4.8% in September. Actual was a drop to 4.6%. Consensus for October Hourly Earnings was an increase of 0.4% versus a gain of 0.6% in September. Actual was a gain of 0.4%

The Canadian Dollar moved slightly lower to US8016 cents following release of Canada's October Employment Report at 8:30 AM EDT. Consensus was an increase of 41,000 versus a gain of 157,100 in September. Actual was an increase of 31,200 Consensus for the October Unemployment Rate was unchanged at 6.9%. Actual was a drop to 6.7%.

Peloton dropped $19.47 to $67.00 after the company reported lower than consensus quarterly results and lowered guidance. KeyBanc dropped its target price from $155 to $110.

Square fell $7.50 to $239.96 after the company reported less than consensus quarterly revenues.

Moderna lost $18.56 to $265.60 after the company announced lower than consensus third quarter COVID vaccine sales. Also, Pfizer announced a pill version of the COVID 19 vaccine.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/11/04/stock-market-outlook-for-november-5-2021/

Technical Notes released yesterday at

StockTwits.com@EquityClock

Don't be fooled by the pullback in the price of oil as the demand fundamentals remain supportive of price. equityclock.com/2021/11/03/… $USO $CL_F $UGA $XLE $XOP

QualComm $QCOM an S&P 100 stock moved above $151.57 extending an intermediate uptrend.

Editor's Note. Seasonal influences on a real and relative basis are favourable to mid-January. If a subscriber to www.EquityClock.com seehttps://charts.equityclock.com/qualcomm-inc-nasdaqqcom-seasonal-chart

Take Two Interactive $TTWO moved above $188.36 extending an intermediate uptrend. Responding to higher than consensus quarterly results.

Moderna $MRNA a NASDAQ 100 stock moved below $293.58 extending an intermediate downtrend.

BlackRock $BLK an S&P 100 stock moved above $955.72 to an all-time high extending an intermediate uptrend

Editor's Note: Seasonal influences on a real and relative basis are favourable to April.1. If a subscriber to www.EquityClock.com, see https://charts.equityclock.com/blackrock-inc-nyseblk-seasonal-chart

Nike $NKE an S&P 100 stock moved above $174.89 to an all-time high extending an intermediate uptrend. Seasonal influences on a real and relative basis are favourable to the third week in December. If a subscriber to www.EquityClock.com see:charts.equityclock.com/nike…

Adobe $ADBE a NASDAQ 100 stock moved above $673.88 to anall-time high extending an intermediate uptrend.

Applied Materials $AMAT a NASDAQ 100 stock moved above $145.48 to an all-time high extending an intermediate uptrend.

Editor's Note: Seasonal influences on a real and relative basis are favourable to the third week in March. If a subscriber to www.EquityClock.com, see: https://charts.equityclock.com/applied-materials-inc-nasdaqamat-seasonal-chart

Synopsys $SNPS a NASDAQ 100 stock moved above $340.66 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable to mid-February. If a subscriber to equityclock.com/ see: charts.equityclock.com/syno…

AT&T $T an S&P 100 stock moved below $25.01 extending an intermediate downtrend.

Gildan Activewear $GIL.CA a TSX 60 stock moved above $50.43 extending an intermediate uptrend.

Editor's Note: Seasonal influences on a real and relative basis are favourable until at least mid-February. If a subscriber to www.EquityClock.com see, https://charts.equityclock.com/gildan-activewear-inc-tsegil-seasonal-chart

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Nov.4th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for Nov.4th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Nov.4th 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)

Canadian Association for Technical Analysis

The Association has arrived! Joining the Association provides an excellent opportunity to learn technical analysis techniques and to share opinions on markets.

The new web site has just been launched. The Association became "live" in October with free Zoom presentations featuring Keith Richards and Ron Meisels. Next two presentations have been scheduled featuring Greg Schnell on November 9th and David Cox on November 25th

More information on the Association, its services and the current bargain price for joining is available at Emailing – Canadian Association for Technical Analysis (canadianata.ca)

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 2.01 to 69.08 yesterday. It remains Overbought.

The long term Barometer eased 2.41 to 73.69 yesterday. It remains Overbought.

TSX Momentum Barometers

The intermediate Barometer added 4.78 to 70.00 yesterday. It remains Overbought.

The long term Barometer eased 1.44 to 65.71 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