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Tech Talk for Thursday January 9th 2020

 

StockTwits released yesterday @EquityClock

CVS Health $CVS, an S&P 100 stock moved below $72.64 completing a double top pattern.

Bank of New York $BK, an S&P 100 stock moved above $51.40 extending an intermediate uptrend.

Vertex Pharmaceutical $VRTX, a NASDAQ 100 stock moved above $225.66 to an all-time high extending an intermediate uptrend.

Take Two Interactive $TTWO, a NASDAQ 100 stock moved above $126.35 and $135.70 re-establishing an intermediate uptrend.

Thomson Reuters $TRI.CA, a TSX 60 stock moved above $96.34 to an all-time high extending an intermediate uptrend.

Sun Life $SLF.CA, a TSX 60 stock moved above $61.36 to an all-time high extending an intermediate uptrend.

Metals & Mining SPDRs $XME moved below $28.39 completing a double top pattern.

Regeneron Pharma $REGN, a NASDAQ 100 stock moved above $382.25 extending an intermediate uptrend.

 

Trader’s Corner

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for January 8th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for January 8th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for January 8th 2019

Green: Increase from previous day

Red: Decrease from previous day

Observation

Healthcare SPDRs moved to an all-time high yesterday, typical at this time of year. The sector has a history of moving higher prior to the JP Morgan Healthcare conference scheduled this year between January 13th and January 16th. The conference is best known for updates on new drug launches and related research. The sector also has a history of moving lower after the conference is over.

 

S&P 500 Momentum Barometer

The Barometer gained 2.00 to 72.34 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

The Barometer dropped 5.42 to 64.35 yesterday. It remains intermediate overbought and has started to trend lower.

 

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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