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Tech Talk for Tuesday September 17th 2019

 

Observations

Commodity prices spiked (primarily energy prices).

 

StockTwits released yesterday @EquityClock

TSX Energy iShares $XEG.CA moved above $9.17 extending an intermediate uptrend. Other Canadian energy breakouts this morning include $CVE.CA, $ERF.CA

U.S. Natural Gas ETN $UNG moved above $23.33 extending an intermediate uptrend

Arc Resources $ARX.CA, a Canadian "gassy" stock moved above $6.91 completing a base building pattern.

U.S. crude oil ETN $USO moved above$12.63 setting a new higher trading range.

Canadian Natural Resources $CNQ.CA, a TSX 60 stock moved above $36.66 extending an intermediate uptrend

Vietnam ETF $VNM moved above $15.94 setting an intermediate uptrend

ADP $ADP , a NASDAQ 100 stock moved below $157.95 completing a double top pattern.

 

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for September 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for September 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for September 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Headline reads, “Bolton thirteen, oil attack, wiggle high, corrective gold, less inverted, wishful bashing, expected cut

Thank you to David Chapman and www.EnrichedInvesting.com for the following link:

http://enrichedinvesting.com/wp-content/uploads/2019/09/Bolton-thirteen-oil-attack-wiggle-high-corrective-gold-less-inverted-wishful-bashing-expected-cut.pdf

 

Josef Schachter on BNNBloomberg’s Market Call

Market Comment

https://www.bnnbloomberg.ca/market-call/josef-schachter-s-market-outlook~1780599

Past Picks

https://www.bnnbloomberg.ca/market-call/josef-schachter-s-past-picks~1780600

Top Picks

https://www.bnnbloomberg.ca/market-call/josef-schachter-s-top-picks~1780601

 

S&P 500 Momentum Barometer

The Barometer surprisingly added 1.00 to 71.80 yesterday despite weakness in broadly based U.S. equity indices. It remains intermediate overbought, but has yet to show signs of peaking.

 

TSX Momentum Barometer

The Barometer added another 2.59 to 63.79 yesterday. It remains intermediate overbought, but has yet to show signs of peaking.

 

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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