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Tech Talk for Friday October 7th 2022

 

Next Tech Talk report

Tech Talk will resume on Tuesday. Monday is an official holiday in Canada and a partial holiday in the U.S. In the U.S, the NYSE and NASDAQ are open, but the bond market and banks are closed. Volume on U.S. equity exchanges are expected to be greatly diminished.

 

Technical Notes for yesterday

Xcel Energy $XEL a NASDAQ 100 stock moved below $63.16 and $62.51 extending an intermediate downtrend.

DexCom $DXCM a NASDAQ 100 stock moved above $94.60 extending an intermediate uptrend.

Activision $ATVI, a NASDAQ 100 stock moved below $73.71 extending an intermediate downtrend.

Canadian food distributor and related stocks moved lower after a court ruling allowed food distributors to charge a fee for credit card transactions.

Loblaw Companies $L.TO a TSX 60 stock moved below $107.91 extending an intermediate downtrend.

George Weston $WN.TO a TSX 60 stock moved below $141.92 extending an intermediate downtrend.

Metro $MRU.TO a TSX 60 stock moved below intermediate support at $68.68/ extending an intermediate downtrend.

Marijuana stocks and related ETFs responded to a comment by President Biden who is considering a pardon for people previously convicted of possession. He also ordered a review of U.S. pot laws with consideration of legalizing possession

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for October 6th 2022

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for October 6th 2022

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for October 6th 2021

Green: Increase from previous day

Red: Decrease from previous day

 

Links offered by a valued provider

Michael Brush says “That’s investors’ cue to enter the stock market”.

https://www.marketwatch.com/story/inflation-is-going-to-fall-just-as-fast-as-it-rose-and-thats-investors-cue-to-enter-the-stock-market-11665072070?mod=home-page

 

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 3.60 to 18.40 yesterday. It remains Oversold.

The long term Barometer eased 2.20 to 20.40 yesterday. It remains Oversold.

 

TSX Momentum Barometers

The intermediate term Barometer slipped 2.12 to 41.10 yesterday. It remains Neutral.

The long term Barometer was unchanged at 31.36 yesterday. It remains Oversold.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

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

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