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Tech Talk for Wednesday April 17th 2019

 

Observations

Gold and gold stocks responded to the drop by gold below $1280.80 per ounce.

Healthcare stocks were hit by political talk about universal healthcare in the U.S. Healthcare SPDRs moved below support at $88.30.

 

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakouts: $OMC $AJG $MMC $PGR. Breakdowns: $RIG $HCA $WRK

Editor’s Note: After 10:00 AM EDT, breakouts included RCL, HPQ, MSI and QCOM. Breakdowns included MAC, HRL, DRE, VTR, BSX, UHS, EA, CNC, HCP, TFX and HOLX.

Natural gas ETN $UNG moved below $22.73 extending an intermediate downtrend.

US Industrial Production up a mere 0.3% (NSA) in March, well below the average increase for the month of 0.8% $MACRO #Economy #Manufacturing

Canada #Manufacturing Sales down 4.3% (NSA) in February, weaker than 0.3% decline that is average for this winter month.$MACRO #CDNecon #CAD

Equal Weight Canadian Bank ETF $ZEB.CA moved above $29.22 extending an intermediate uptrend.

TSX Gold Equity ETF $XGD.CA moved below $11.90 completing setting an intermediate downtrend.

First Majestic Silver $AG $FR.CA moved below $6.12 U.S. and $8.15 Cdn setting an intermediate downtrend.

 

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for April 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for April 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

Keith Richard’s Blog

Keith asks, “Got Gas”? Following is a link:

https://www.valuetrend.ca/got-gas/

 

S&P 500 Momentum Barometer

The Barometer dropped 3.21 to 77.56 yesterday. It remains intermediate overbought and showing early signs of rolling over.

 

TSX Momentum Barometer

The Barometer dropped 6.17 to 62.96 yesterday. It remains intermediate overbought and trending down.

 

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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