ETFs

Tech Talk for Wednesday April 26th 2017

by Don Vialoux, Timingthemarket.ca

Observations

Important changes in currencies yesterday:

· The U.S. Dollar Index touched below 98.67 extending an intermediate downtrend

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· The Euro moved above 109.06 extending an intermediate uptrend

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· The Canadian Dollar responded to U.S. political rhetoric about softwood lumber and dairy trade by moving below US 73.88 and 73.52 cents

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The Canadian Dollar relative to the Euro virtually collapsed.

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The Materials sector led the advance in U.S. equity markets yesterday. All of the gains came from strength in the chemical subsector.

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European equity markets continue to surge. Equities and related ETFs in Greece played “catch up”

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StockTwits Released Yesterday @EquityClock

S&P 500 gaps above triangle consolidation pattern.

Technical action by S&P 500 stocks to 10:00: Bullish. 22 stocks broke intermediate resistance. 7 stocks broke intermediate support.

Editor’s Note: After 10:00 AM EDT, breakouts included ADP, CCL, CERN, CMI, CVS, EL, HPE, MLM, MNK, NFLX, ROK, UNP, UPS, WHR and WLTW. Breakdown: NEM.

Materials SPDRs $XLB moved above $53.27 to an all-time high extending an intermediate uptrend.

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S&P /TSX Financials $XFN.CA moved above $36.57 establishing a new intermediate uptrend.

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Semiconductor ETF $SMH moved above $80.05 to an all-time high extending an intermediate uptrend.

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Editor’s Note: Ditto for $SOXX

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Junior Gold Miners ETF $GDXJ moved below $32.66 extending an intermediate downtrend.

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Caterpillar $CAT, a Dow Jones Industrial stock moved above $98.64 to an all-time high extending an intermediate uptrend.

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Russell 2000 Index and related ETF $IWM moved above 1,414.82 to an all-time high extending an intermediate uptrend

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Emerging Markets iShares $EEM moved above $40.23 to a 2 year high extending an intermediate uptrend.

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Aerospace ETF $PPA moved above $45.00 to an all-time high extending an intermediate uptrend.

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Barrick Gold $ABX $ABX.CA moved below $23.34 Cdn. establishing an intermediate downtrend.

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Goldcorp $G.CA $GG moved below $19.34 Cdn. establishing an intermediate downtrend.

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Newmont $NEM moved below $52.15 extending an intermediate downtrend.

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IGM Financial $IGM.CA moved above $41.67 to a 30 month high extending an intermediate uptrend.

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for April 25th 2017

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Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 25th 2017

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Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for April 25th 2017

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Green: Increase from previous day

Red: Decrease from previous day

S&P Momentum Barometer

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The Barometer added another 1.60 to 62.20 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

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The Barometer added 0.41 to 59.67 yesterday. It remains intermediate overbought.

Disclaimer: Seasonality and technical ratings offered in this report and 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

Copyright © DV Tech Talk, Timingthemarket.ca

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