by Don Vialoux, Timingthemarket.ca
Editor’s Note: Next Tech Talk report is released on Thursday June 22nd
Observations
The NASDAQ Composite Index once again bounced from its 50 day moving average and managed to recover to above its 20 day moving average thanks mainly to a resurgence of the FANG stocks plus Apple. Their strength was sufficient to push the S&P 500 Index and Dow Jones Industrial Average to an all-time high.
Ditto for the pure Technology ETFs!
Strength in the Health Care sector and its biotech subsector also contributed.
StockTwits Released Yesterday @EquityClock
Technical action by S&P 500 stocks to 10:15:Bullish. Breakouts: $MET $UNM $ALLE $FTV $LMT $ROK $RTN $XRX $VRSK. Breakdowns: $SJM $HAL $NEM
Editor’s Note: After 10:15 AM EDT, breakouts included NAVI, CAH and BLL. Breakdown: CAG
Van Eck Biotech ETF $BBH moved above $123.15 extending an intermediate uptrend.
Brookfield Asset Management $BAM, a TSX 60 stock, moved above US$38.85 to an all-time high extending an uptrend.
CI Financial $CIX.CA moved above $27.33 developing an intermediate uptrend.
Trader’s Corner
Daily Seasonal/Technical Equity Trends for June 19th 2017
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for June 19th 2017
Green: Increase from previous day
Red: Decrease from previous day
* Excludes adjustment from rollover of futures contracts
Daily Seasonal/Technical Sector Trends for June 19th 2017
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer gained 4.20 to 75.20 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer gained 3.99 to 37.19 yesterday. It recovered to Neutral from slightly oversold.
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
