ETFs

Tech Talk for Tuesday June 13th 2017

by Don Vialoux, Timingthemarket.ca

 

Observations

More early warnings on European equities! The Euro Stoxx 600 Index briefly moved below386.46 completing a double top pattern.

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Strength (breakout) by the Canadian Dollar is related to expectations that the Bank of Canada will follow the Fed Fund Rate increase on Wednesday by increasing its overnight lending rate to major banks.

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StockTwits Released Yesterday @EquityClock

Technology sector benchmark reverses gains after it charts first all-time high in 17 years. See

http://www.equityclock.com/2017/06/09/stock-market-outlook-for-june-12-2017/

Technical action by S&P 500 stocks to 10:00: Bullish.21 stocks broke intermediate resistance. 5 stocks broke support.

Editor’s Note: After 10:00 AM EDT, breakouts included IP and CSRA. No breakdowns.

Home Depot $HD, a Dow Jones Industrial stock moved below $152.41 completing a double top pattern.

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Chevron, $CVX, a Dow Jones Industrial stock moved above $102.09 completing a double bottom pattern.

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Exxon Mobil $XOM, a Dow Jones Industrial stock moved above $83.46 completing a base building pattern.

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Another fertilizer stock and ETF broke resistance setting intermediate uptrends: $MOS $SOIL

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Infrastructure/China sensitive stocks lead market higher: $NUE $X $SLX $AKS $XME

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Enerplus $ERF.CA moved above $11.44 establishing an intermediate uptrend.

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General Electric $GE, a Dow Jones Industrial stock moved above $28.50 completing a double bottom pattern

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Eldorado Gold $ELD.CA moved below $3.69 extending an intermediate downtrend.

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Another gold breaks support. Yamana $YRI.CA moved below $3.30 extending an intermediate downtrend.

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Loblaw $L.CA moved below $75.45 completing a double top pattern.

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for June 12th 2017

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for June 12th 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 June 12th 2017

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Green: Increase from previous day

Red: Decrease from previous day

Keith Richards’ Top Picks

Keith was on BNN’s Market Call last night. Following is a link to his top picks:

http://www.bnn.ca/keith-richards-top-picks-june-12-2017-1.776714

 

CSTA Event

Oakville Chapter Meeting

7:00 PM EDT on Wednesday June 14th at Oakville Town Hall

Speaker: Sarah Potter from SheCanTrade.com

Topic: Using Multiple Time Frame Analysis to Execute and Manage Trades

Everyone is welcome.

 

S&P 500 Momentum Barometer

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The Barometer added another 2.40 to 72.20%. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer dropped 4.08 to 41.63. It remains intermediate neutral 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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