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Tech Talk for Tuesday May 12th 2020

 

Technical Comments

Citrix Systems (CTXS), a NASDAQ 100 stock moved above $152.49 to an all-time high extending an intermediate uptrend.

NVIDIA (NVDA), a NASDAQ 100 stock moved above $316.13 to an all-time high extending an intermediate uptrend.

First Trust Biotech ETF (FBT) moved above $159.85 to an all-time high extending an intermediate uptrend.

Editor’s Note: Other biotech ETFs to reach all-time highs included IBB and BBH.

Brookfield Infrastructure Partners (BIP/UN), a TSX 60 stock moved above $58.67 resuming an intermediate uptrend

Alimentation Couche Tard (ATD.B), a TSX 60 stock moved above $40.97 resuming an intermediate uptrend.

American International Group (AIG), an S&P 100 stock moved above $27.75 resuming an intermediate uptrend.

Lumber prices moved above $357.80 setting an intermediate uptrend.

 

Trader’s Corner

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 11th 2020

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Seasonal/Technical Commodities Trends for May 11th 2020

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for May 11th 2020

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Thank you to David Chapman and www.EnrichedInvesting for a link to David’s weekly comment. Headline reads,”Great disconnect, trillions thrown, Main devastation, happy Wall, golden projection”. Following is the link:

http://enrichedinvesting.com/wp-content/uploads/2020/05/Great-disconnect-trillions-thrown-Main-devastation-happy-Wall-golden-projection.pdf

 

S&P 500 Barometer

The Barometer dropped 6.41 to 69.54 yesterday. It remains intermediate overbought.

 

TSX Barometer

The Barometer gained another 1.79 to 74.11 yesterday. It remains intermediate overbought.

 

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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