{"id":111194,"date":"2021-11-15T02:32:55","date_gmt":"2021-11-15T07:32:55","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=111194"},"modified":"2022-11-21T09:49:17","modified_gmt":"2022-11-21T14:49:17","slug":"chart-advisor-tech-powers-ahead","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/chart-advisor-tech-powers-ahead\/","title":{"rendered":"Chart Advisor: Tech Powers Ahead"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-friday-12th-november-2021\">Friday, 12th November, 2021<\/h2>\n\n\n\n<p><strong>1\/<\/strong>&nbsp;<strong>Nasdaq leads indexes in a rebound&nbsp;<\/strong><\/p>\n\n\n\n<p><strong>2\/&nbsp;Tyson traders and investors both nervous&nbsp;<\/strong><\/p>\n\n\n\n<p><strong>3<\/strong>\/&nbsp;<strong>Investors putting wants over needs&nbsp;<\/strong><\/p>\n\n\n\n<p><strong>4\/&nbsp;The bottom line<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-1-nasdaq-leads-indexes-in-a-rebound\">1\/ <strong>Nasdaq Leads Indexes in a Rebound&nbsp;<\/strong><\/h2>\n\n\n\n<p>Stocks rose to close out the week, but major averages are on pace to finish the week lower. Invesco\u2019s Nasdaq 100 ETF (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=qqq&amp;utm_source=chart-advisor&amp;utm_campaign=fwd_chartadvisor&amp;utm_term=25687795&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\">QQQ<\/a>)&nbsp;led&nbsp;the way higher, adding 1%. State Street\u2019s S&amp;P 500 Index ETF (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=spy&amp;utm_source=chart-advisor&amp;utm_campaign=fwd_chartadvisor&amp;utm_term=25687795&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\">SPY<\/a>)&nbsp;and&nbsp;Dow Jones Industrial Average ETF (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=dia&amp;utm_source=chart-advisor&amp;utm_campaign=fwd_chartadvisor&amp;utm_term=25687795&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\">DIA<\/a>)&nbsp;gained&nbsp;0.7% and 0.5%, respectively, while the iShares Russell 2000 ETF (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=iwm\" target=\"_blank\" rel=\"noreferrer noopener\">IW<\/a><a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=iwm&amp;utm_source=chart-advisor&amp;utm_campaign=fwd_chartadvisor&amp;utm_term=25687795&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\">M<\/a>)&nbsp;added&nbsp;0.1%.&nbsp;&nbsp;<\/p>\n\n\n\n<p>The University of Michigan\u2019s&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/c\/consumer-sentiment.asp?utm_source=chart-advisor&amp;utm_campaign=fwd_chartadvisor&amp;utm_term=25687795&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\">Consumer Sentiment<\/a>&nbsp;report came in at a 10-year low in November as inflation continues to rise. The report can be a leading indicator of consumer spending. Meanwhile, the U.S. Labor Department\u2019s Job Openings and Labor Turnover Survey showed that workers left their jobs in record numbers in September, with 4.43 million people quitting. The report cited 10.44 million employment openings for the month.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Despite continued and increasing concerns over&nbsp;<a href=\"https:\/\/www.investopedia.com\/inflation-skyrockets-amid-soaring-energy-food-prices-5209225?utm_source=chart-advisor&amp;utm_campaign=fwd_chartadvisor&amp;utm_term=25687795&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\">inflation<\/a>, major indexes remain close to record highs. The last sharp pullback for major averages was in early October, as illustrated on the chart below. Chart watchers can recognize that averages moved significantly higher from that point to today. This means that the recent pullback could merely be a springboard into a move higher.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/11\/1-10-1100x574.jpg\" alt=\"\" class=\"wp-image-111197 lazyload\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/574;\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2-tyson-traders-and-investors-both-nervous\">2\/ <strong>Tyson Traders and Investors Both Nervous&nbsp;<\/strong><\/h2>\n\n\n\n<p>Investors have sold the share prices of Tyson Foods (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=tsn&amp;utm_source=chart-advisor&amp;utm_campaign=fwd_chartadvisor&amp;utm_term=25687795&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\">TSN<\/a>)&nbsp;ahead&nbsp;of the company\u2019s fiscal fourth-quarter earnings report, which is expected to be announced Monday before the market opens. Analysts expect the company to report $2.22 in&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/e\/eps.asp?utm_source=chart-advisor&amp;utm_campaign=fwd_chartadvisor&amp;utm_term=25687795&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\">earnings per share (EPS)<\/a>&nbsp;and 12.69 billion in revenue. With the restaurant industry reopening, the food service business is expected to see a rebound, and the company expects to see escalated volumes above pre-COVID levels in the retail business for the rest of the year.&nbsp;<\/p>\n\n\n\n<p>The chart below compares the recent performance of TSN with State Street\u2019s Consumer Staples ETF (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=xlp&amp;utm_source=chart-advisor&amp;utm_campaign=fwd_chartadvisor&amp;utm_term=25687795&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\">XLP<\/a>). TSN has outperformed XLP on a wider basis, as TSN has gained 27% year-to-date, while XLP has added only 9% in the same span. The chart also highlights that today\u2019s 2.8% share price decline places TSN shares just below their 20-day moving average, leaving the stock in the middle of the volatility range.&nbsp;&nbsp;<\/p>\n\n\n\n<p>At first glance, it appears option traders are placing their bets for the stock to move higher in the near term. That\u2019s because recent trading volumes favor call options over puts more than 7-to-1. The open interest for TSN features over 89,000 calls compared to nearly 84,000 puts, and&nbsp;<a href=\"https:\/\/www.investopedia.com\/terms\/i\/iv.asp?utm_source=chart-advisor&amp;utm_campaign=fwd_chartadvisor&amp;utm_term=25687795&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\">implied volatility<\/a>&nbsp;suggests that option traders are selling puts. Even though the open interest is more even than recent trading volumes in relation to calls and puts, it appears option traders are taking advantage of elevated premiums ahead of earnings to take relatively bullish positions.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/11\/2-11-1100x619.jpg\" alt=\"\" class=\"wp-image-111198 lazyload\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/619;\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3-investors-putting-wants-over-needs\">3\/ <strong>Investors Putting Wants Over Needs&nbsp;<\/strong><\/h2>\n\n\n\n<p>The chart below compares SPY with State Street\u2019s Consumer Staples Sector ETF (XLP) and Consumer Discretionary ETF (<a href=\"https:\/\/www.investopedia.com\/markets\/quote?tvwidgetsymbol=xly&amp;utm_source=chart-advisor&amp;utm_campaign=fwd_chartadvisor&amp;utm_term=25687795&amp;utm_medium=email\" target=\"_blank\" rel=\"noreferrer noopener\">XLY<\/a>). Comparing these two sectors can give a good benchmark of \u201cwants versus needs\u201d, which can gauge the strength of the retail sector ahead of the upcoming holiday season. During times of high inflation, XLP is generally considered to be a bit of a safer bet than XLY, as consumers will spend more on things that they need rather than things that they want.&nbsp;&nbsp;<\/p>\n\n\n\n<p>XLY has been moving relatively in tandem with SPY\u2019s recent upward trend, while XLP\u2019s upward movement has not been as steep. Despite inflation reports continuing to come in higher and higher seemingly every month, investors had yet to rotate sectors until recently.&nbsp;&nbsp;<\/p>\n\n\n\n<p>XLY has diverged from SPY. The index&nbsp;bounced back a little from its recent pullback, but XLY has fallen sharply. However, this hasn\u2019t coincided with a similarly sharp upward move from XLP, which could mean that while signs of a shift of \u201cwants versus needs\u201d could be developing, there could be some time before the two sectors converge on opposite paths.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" data-src=\"\/campus\/wp-content\/uploads\/sites\/2\/2021\/11\/3-8-1100x624.jpg\" alt=\"\" class=\"wp-image-111199 lazyload\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1100px; aspect-ratio: 1100\/624;\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-4-the-bottom-line\">4\/ <strong>The Bottom Line&nbsp;<\/strong><\/h2>\n\n\n\n<p>Nasdaq stocks led other indexes in rebounding from the week\u2019s dip. Investors seem worried about Tyson Foods\u2019 earnings report, but it may be just part of a shifting preference from the consumer Staples sector to the consumer discretionary sector.<\/p>\n\n\n\n<p>   &#8212;   <\/p>\n\n\n\n<p> Originally posted on 12th November, 2021 <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stocks rose to close out the week, but major averages are on pace to finish the week lower. Invesco\u2019s Nasdaq 100 ETF (QQQ)\u00a0led\u00a0the way higher, adding 1%.<\/p>\n","protected":false},"author":364,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[14,18,6,19,8,9,22,26,3],"tags":[3057,208,2782,262,1762,1322,1283],"contributors-categories":[13686],"class_list":{"0":"post-111194","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-etfs","7":"category-macro","8":"category-north-america","9":"category-options","10":"category-region","11":"category-securities","12":"category-stocks","13":"category-text-articles","14":"category-traders-insight","15":"tag-dia","16":"tag-iwm","17":"tag-qqq","18":"tag-spy","19":"tag-tsn","20":"tag-xlp","21":"tag-xly","22":"contributors-categories-investopedia"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Chart Advisor: Tech Powers Ahead | Traders&#039; Insight<\/title>\n<meta name=\"description\" content=\"Stocks rose to close out the week, but major averages are on pace to finish the week lower. 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