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Tech Talk for Thursday December 26th 2019

 

StockTwits released on Tuesday @EquityClock

Gold equities and related ETFs/stocks are leading equity market advances this morning. Nice breakouts above intermediate resistance by $GDX $GDXJ $XGD.CA

Wheaton Precious Metals $WPM $WPM.CA, a TSX 60 stock moved above $28.64 U.S. and $38.14 Cdn. extending an intermediate uptrend.

First Majestic Silver $AG $FR.CA moved above $11.62 U.S. extending an intermediate uptrend.

Another precious metals equity breakout! Franco- Nevada $FNV $FNV.CA, a TSX 60 stock moved above $100.67 U.S. to an all-time high extending an intermediate uptrend.

Another gold stock breakout! Kinross Gold $KGC $K.CA moved above $4.57 U.S. resuming an intermediate uptrend.

Editor’s Note: Silver Miners ETF also broke to new highs on a move above $35.26..

‘Tis the season for gold, silver and precious metal stocks/ETFs to move higher until the end of February!

Base Metal stocks continue to move higher. Nice breakout above a base building pattern by Hudbay Minerals $HBM.CA above $5.41

Canadian Bank stocks remain under technical pressure. $ZEB.CA. Bank of Nova Scotia competed a Head & Shoulders pattern by moving below $73.12 $BNS.CA

Natural gas prices remain under pressure. Natural Gas ETN $UNG moved below $16.88 extending an intermediate downtrend.

Another Canadian energy breakout! Birchcliffe Energy moved above $2.54 completing a base building pattern.

 

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 24th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 24th 2019

Green: Increase from previous day

Red: Decrease from previous day


Sectors

Daily Seasonal/Technical Sector Trends for December 24th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

Percent of S&P 500 stocks trading above their 50 day moving average slipped 0.40 to 80.56 on Tuesday. Percent remains intermediate overbought, but has yet to show signs of peaking.

 

TSX Momentum Barometer

Percent of TSX stocks trading above their 50 day moving average increased 3.24 to 74.07 on Tuesday. Percent 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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