Timing the market

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Tech Talk for Friday September 7th 2018

 

Observations

European equities and related indices/ ETFs resumed an intermediate downtrend. The Stoxx 600 Index moved below 374.38.


Weakness was led by another drop in the Greece’s equity index, down 23.1% from its high in February.

Weakest North American sub-sector yesterday was Oil Services.

The commodity sensitive Australian equity market was notably weaker yesterday, joining the commodity sensitive Canadian equity market.

 

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bearish. Intermediate breakout: $AME. Breakdowns: $WYNN $FB $LRCX

Facebook $FB, one of the FAANG stocks moved below $164.56 extending an intermediate downtrend.

Water Resource ETF $PHO moved above $31.94 to an all-time high extending an intermediate uptrend.

Another base metal stock breakdown! BHP Billiton $BHP moved below $46.33 extending an intermediate downtrend.

Editor’s Note: Add Southern Copper to the list

Chevron $CVX, a Dow Jones Industrial stock moved below $116.31 extending an intermediate downtrend.

Technical action by S&P 500 stocks between10:00 and Noon: Increasingly bearish Intermediate breakdowns: $NWS $MGM $ETFC $IPGP $CVX $SCHW $KLAC $MU.

Utilities SPDRs $XLU moved above $54.76 extending an intermediate uptrend. Individual utility breakouts: $LNT $NEE $ETF

US Factory Orders down 9.6% (NSA) in July, firmly better than the 10.4% average decline for the month. $MACRO #Economy #Manufacturing

 

Trader’s Corner

Equities and Related ETFs

Daily Seasonal/Technical Equity Trends for September 6th 2018

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for September 6th 2018

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for September 6th 2018

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

The Barometer dropped 1.40 to 68.40 yesterday. It remains intermediate overbought and continues to show early signs of rolling over.

 

TSX Momentum Barometer

The Barometer slipped another 1.00 to 36.55 yesterday. It remains intermediate oversold and continues to trend down.

 

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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