Tech Talk for Friday May 5th 2017

Don Vialoux on BNN

Mr. Vialoux is scheduled to appear on BNN Tonight on Monday at 5:30 PM EDT

Observations

U.S Health Care indices and related ETFs responded favourably to news that the House of Representatives passed a new Health Care bill.

French iShares moved to a 9 year high in anticipation of an election this weekend of Emmanuel Macron as President of France.

Commodity prices virtually collapsed yesterday. Commodity sensitive equity prices quickly followed .

StockTwits Released Yesterday @EquityClock

Year-to-date rise in U.S. Oil production (through end of April) highest in over 30 years.

Technical action by S&P 500 stocks to Noon: Slightly bearish. 9 stocks broke intermediate resistance. 14 stocks broke support.

S&P 500 stocks breaking resistance to Noon: $BF.B $CHD $MKC $AIG $ETFC $MET, HSIC, $CA $BLL

Editor’s Note: Breakout after Noon: YUM. Breakdowns: XEC, DVA, JBHT

S&P 500 stocks breaking support to Noon: $CBS $DISCA $AVP $EQT $KMI $MRO, $MUR $OKE $SWN $SPG $WIN $ES $O

Steel ETF $SLX moved below $36.43 extending an intermediate downtrend.

Copper Miners ETF $COPX moved below $19.88 extending an intermediate downtrend.

BMO Base Metals ETF $ZJN.CA moved below $9.42 completing a Head & Shoulders pattern.

Teck Resources $TECK moved below $19.20 completing a Head & Shoulders pattern.

Gold Miners ETF $GDX moved below $21.14 establishing an intermediate downtrend.

Editor’s Note: Silver Miners ETF $SIL also broke support on a move below $32.37

Silver stocks on both sides of the border break support: $PAAS $AG $SSO.CA $FR.CA

More Canadian energy stocks/ETFs break intermediate support. $ZJN.CA $CNQ.CA $BIR.CA

WTI Crude moved below $47.01 extending an intermediate downtrend $USO $WTI

Trader’s Corner

Daily Seasonal/Technical Equity Trends for May 4^th 2017

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for May 4^th 2017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for May 4^th 2017

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 1.80 to 56.40 yesterday. It remains intermediate overbought and trending down.

TSX Momentum Barometer

The Barometer plunged 7.47 to 44.81 yesterday. It has dropped to a neutral level and continues to trend 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