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Tech Talk for Thursday May 14th 2020

 

Technical Notes

General Electric (GE), an S&P 100 stock moved below $5.90 extending an intermediate downtrend.

NetEase.com (NTES), a NASDAQ 100 stock moved above $367.52 to an all-time high extending an intermediate uptrend.

Walgreen Boots (WBA), a Dow Jones Industrial stock moved below $39.40 extending an intermediate downtrend.

Natural Gas ETN (UNG) moved below $11.53 extending an intermediate downtrend.

U.S. Bank stocks and related ETFs (KBE, KRE) came under significant technical pressure following Federal Reserve Chairman Powell’s cautious comments yesterday.

 

Trader’s Corner

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 13th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for May 13th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 13th 2020

Green: Increase from previous day

Red: Decrease from previous day

 

Greg Schnell’s “Market Buzz”

Greg notes, “Banks dial 911”. Following is a link:

 

S&P 500 Momentum Barometer

The Barometer plunged 9.02 to 52.71 yesterday. It changed from intermediate overbought to intermediate neutral on a drop below 60.00 and has started to trend down.

 

TSX Momentum Barometer

The Barometer plunged 12.50 to 56.25 yesterday. It changed from intermediate overbought to intermediate neutral on a move below 60.00 and has started to trend 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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