Energy & Natural Resources

Tech Talk for Friday April 28th 2017

by Don Vialoux, Timingthemarket.ca

Observations

Canadian financial services jitters were triggered by the Home Capital debacle. The S&P/TSX Financial Index moved below 282.72 extending an intermediate downtrend.

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StockTwits Released Yesterday @EquityClock

Ratio of Discretionary to Staples back to upper limit of recent trading range.

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Technical action by S&P 500 stocks to Noon: Mixed. 10 stocks broke intermediate resistance. 11 stocks broke intermediate support.

Editor’ s Note: After Noon, breakouts included ZTS, UPS and HRS. Breakdowns included IPG, ORLY and CME

General Electric $GE, a Dow Jones Industrial stock moved below $29.03 extending an intermediate an intermediate downtrend.

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BMO Equal Weight Bank ETF ZEB.CA moved below $27.08 extending an intermediate downtrend.

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Cdn. bank stocks breaking support set downtrends: $RY.CA $BNS.CA $BMO.CA

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S&P/TSX Energy Index moved below $192.69 extending downtrend $XEG.CA

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More Cdn. energy stocks breaking support extending downtrend: $ERF.CA $VET.CA

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Gasoline ETN $UGA moved below $25.25 extending an intermediate downtrend.

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Saputo $SAP.CA moved below $43.90 completing a Head & Shoulders pattern.

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Toromont $TIH.CA moved above $48.66 to an all-time high extending an intermediate uptrend.

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BHP Billiton $BHP moved below $35.18 completing a Head & Shoulders pattern.

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Thomson Reuters $TRI.CA, a TSX 60 stock moved above $59.15 setting new intermediate uptrend.

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Palladium ETN $PALL moved above $78.14 extending an intermediate uptrend.

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Cascades $CAS.CA moved above $16.08 to an all-time high extending an intermediate uptrend.

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for April 27th 2017

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Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 27th 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 27th 2017

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Green: Increase from previous day

Red: Decrease from previous day

Keith Richards’ Blog

Will the gap be filled? See http://www.valuetrend.ca/candlestick-readings/

CSTA Events

Toronto North Chapter meeting

Time: 10:00 AM EDT April 29th

Location: 5700 Yonge Street, Ground floor

KWGC meeting

Time: 7:30 Thursday May 4th

Location: 4355 King St. E, Kitchener

Topic: High Volume Strategies

Everyone is welcome

Registration: www.csta.org

S&P 500 Momentum Barometer

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The Barometer added 0.40 to 62.80 yesterday. It remains intermediate overbought

TSX Momentum Barometer

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The Barometer plunged 6.00 to 51.44 yesterday. It remains slightly overbought and trending down.

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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