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Tech Talk for Wednesday April 21st 2021

 

Technical Notes for Tuesday April 20th

JD.com (JD), a NASDAQ 100 stock moved below $76.11 extending an intermediate downtrend.

IBM (IBM), a Dow Jones Industrial Average stock moved above $137.07 extending an intermediate uptrend. The company announced higher than consensus first quarter results.

Merck (MRK), a Dow Jones Industrial Average stock moved above $78.54 setting an intermediate uptrend

Johnson & Johnson (JNJ), a Dow Jones Industrial Average stock moved above intermediate resistance at $167.03

Ford (F), an S&P 100 stock moved below $11.72 setting an intermediate downtrend.

Coca Cola (KO) a Dow Jones Industrial Average stock moved above $54.48 extending an intermediate uptrend.

Soybean ETN (SOYB) moved above $21.88 to a six year high extending an intermediate uptrend.

Wheat ETN (WEAT) moved above $6.55 to a 30 month high extending an intermediate uptrend.

Energy SPDRs (XLE) moved below $47.26 completing a double top pattern.

U.S. Natural Gas Equity ETF (FCG) moved below $12.05 completing a double top pattern.

Canadian “gassy” stocks also were under technical pressure. Prairie Sky Royalties (PSK), a “gassy” Canadian energy stock moved below Cdn$13.20 completing a double top pattern.

Suncor (SU), a TSX 60 stock moved below $25.57 completing a double top pattern.

Cenovus (CVE), a TSX 60 stock moved below $9.25 completing a double top pattern.

Chevron (CVX), an S&P 100 stock moved below $100.69 completing a double top pattern.

Bank of Nova Scotia (BNS), a TSX 60 stock moved below $77.07 completing a double top pattern.

ManuLife (MFC), a TSX 60 stock moved below $26.43 completing a double top pattern.

Franco-Nevada (FNV), a TSX 60 stock moved above US$138.75 extending an intermediate uptrend.

Cameco (CCO CCJ), a TSX 60 stock moved below Cdn$19.66 and US$15.59 completing a double top pattern

U.S. REIT iShares (IYR) moved above $97.35 to an all-time high extending an intermediate uptrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 20th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 20th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 20th 2021

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index

 

S&P 500 Momentum Barometers

The intermediate term Barometer plunged 9.02 to 79.75 yesterday. It changed from Extremely Overbought to Overbought on a move below 80.00 and has started to trend down.

The long term Barometer added 0.40 to 96.79 yesterday. It remains Extremely Overbought.

 

TSX Momentum Barometers

The intermediate term Barometer dropped 4.52 to 72.36 yesterday. It remains Overbought and trending down.

The long term Barometer dropped 2.01 to 79.40 yesterday. It changed from Extremely Overbought to Overbought on a decline below 80.00.

 

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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