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Tech Talk for Friday March 15th 2019

 

Observations

European equities and related ETFs continue to outperform North American equity markets.

 

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakouts: $FOXA $COG . Breakdown: $DG

Editor’s Note: After 10:00 AM EDT, intermediate breakouts included KMB and PWR. No additional breakdowns.

Magna Int’l $MG.CA $MGA, a TSX 60 stock moved below support at$68.28 and $49.19 U.S. Following other auto part stocks.

BMO equal weight Cdn. oil ETF $ZEO.CA moved above 44.51 extending an intermediate uptrend.

Commodity iShares ETN $GSG moved above $15.90 completing a reverse Head & Shoulders pattern

Natural gas $UNG and "gassy" stocks/ETF $FCG move higher on a large 204 MBtu weekly draw down of U.S. Inventories

Note: The shaded area indicates the range between the historical minimum and maximum values for the weekly series from 2014 through 2018. The dashed vertical lines indicate current and year-ago weekly periods.

Trader’s Corner.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for March 14th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for March 14th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for March 14th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

http://www.equityclock.com/about/seasonal-advantage-portfolio/

 

Don Vialoux on Michael Campbell’s Money Talks

Listen to Money Talks tomorrow (Saturday) at 8:30 AM EDT Vancouver time (11:30 AM EDT Toronto time) on Radio CKNW. Following is a link:

https://globalnews.ca/radio/cknw/player/?gref=cknw&cmpid=other#/

 

Update

Favourable technical and seasonal comments for a seasonal trade were offered on Royal Bank (RY $102.64) on January 18th at $98.64. Yesterday, the stock moved below its 20 day moving average, began to underperform the S&P 500/TSX Composite and recorded downtrends by daily momentum indicators. Accordingly, the stock no longer is favoured as a seasonal trade.

Ditto for Canadian Financial iShares (XFN $37.56) mentioned favourably on January 16th at $35.63. Note the drop in technical score recorded yesterday by the TSX Financial Services Index and related ETFs to -4.

 

S&P 500 Momentum Barometer

The Barometer added 2.00 to 83.80 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

The Barometer slipped 2.52 to 71.43 yesterday. It remains intermediate overbought.

 

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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