Upcoming BNN Appearance: Jon Vialoux will be on BNN’s Market Call Tonight at 5:30pm ET this evening taking your calls on Technical Analysis and Seasonal Investing. CALL TOLL-FREE 1-855-326-6266, EMAIL marketcall@bnn.ca, or TWEET @MarketCall Be sure to send in your video questions for priority response on air. Observations Volatility spiked on concerns about stability of the Trump Administration. Volatility is expected to continue today when August index and equity futures and options reach expiry. Key U.S. equity indices responded by moving below their 20 and 50 day moving averages. Notice the high negative correlation between price of the S&P 500 Equal Weight ETF (RSP) and the VIX Index. RSP already has declined 3.2% from its high on July 25th StockTwits Released Yesterday @EquityClock Days of supply of oil down to lowest level in almost 2 years. See http://www.equityclock.com/2017/08/16/stock-market-outlook-for-august-17-2017/ Retail SPDRs moved below $38.53 extending their intermediate downtrend. Technical action by S&P 500 stocks to 10:00: Quiet. Breakouts: $BF.B $HSY. Breakdown: $MPC Editor’s Note: After 10:00 AM EDT, breakdowns included AIG, CSCO, BHGE, GLW. XLNX, BLK, DGX, AKAM and AIZ. No breakouts. Maple Leaf Foods $MFI.CA moved above $35.33 to an all-time high extending an intermediate uptrend. The Volatility Index $VIX is up 3.01 to 14.75. ‘Tis the season for higher volatility until mid-October! Trader’s Corner Daily Seasonal/Technical Equity Trends for August 17th 2017 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Commodities Trends for August 17th 2017 Green: Increase from previous day Red: Decrease from previous day * Excludes adjustment from rollover of futures contracts Daily Seasonal/Technical Sector Trends for August 17th 2017 Green: Increase from previous day Red: Decrease from previous day S&P 500 Momentum Barometer The Barometer dropped 11.80 to 43.00 yesterday. It has declined to slightly intermediate oversold and trending down. TSX Momentum Barometer The Barometer slipped 1.67 to 43.75 yesterday. It remains slightly intermediate oversold 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