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Tech Talk for Thursday July 7th 2022

 

Response to FOMC Meeting Minutes at 2:00 PM EDT

U.S. equity indices moved higher.

The U.S. Dollar was virtually unchanged.

Long term bond prices dipped slightly

Gold and gold equity prices recovered from deeply oversold levels.

 

Technical Notes Yesterday

Costco $COST a NASDAQ 100 stock moved above $484.24 setting an intermediate uptrend.

O’Reilly Automotive $ORLY a NASD 100 stock moved above $652.30 setting an intermediate uptrend.

Thomson Reuters $TRI.TO a TSX 60 stock moved above $137.07 extending an intermediate uptrend.

Canadian National Railway $CNR.TO a TSX 60 stock moved above intermediate resistance at $148.32

Loblaw Companies $L.TO a TSX 60 stock moved above $119.15 to an all-time high extending an intermediate uptrend.

Dollarama $DOL.TO a TSX 60 stock moved above $76.80 to an all-time high extending an intermediate uptrend.

Waste Connections $WCN.TO a TSX 60 stock moved above intermediate resistance at $164.75.

Gold stocks continue to respond to lower gold and silver prices. Agnico-Eagle, a TSX 60 stock moved below Cdn$57.67 extending an intermediate downtrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 6th 2022

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for July 6th 2022

Green: Increase from previous day

Red: Decrease from previous day


Sectors

Daily Seasonal/Technical Sector Trends for July 6th 2022

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)

Links offered by valued providers

Link from Mark Bunting and www.uncommonsenseinvestor.com

Q3 Equity Strategy Outlook – Uncommon Sense Investor

 

Greg Schnell is “Looking for rotation”

 

David Keller discusses “Decent bounce for Tech and Consumer stocks”

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 4.20 to 26.80 yesterday. It remains Oversold. Trend is up.

The long term Barometer slipped 0.80 to 21.60 yesterday. It remains Oversold.

 

TSX Momentum Barometers

The intermediate term Barometer dropped 1.57 to 17.99 yesterday. It remains Oversold.

The long term Barometer slipped 0.84 to 22.18 yesterday. It remains Oversold.

Disclaimer: Seasonality 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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