Send me real-time posts from this site at my email

Tech Talk for Tuesday January 12th 2021

Pre-opening Comments for Tuesday January 12th

U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.

PNC Financial added $0.62 to $160.00 after Citigroup updated the stock from Neutral to Buy.

Bank of America gained $0.32 to $33.43 after Citigroup updated the stock from Neutral to Buy.

Boston Scientific dropped $1.34 to $35.10 after lower its fourth quarter sales guidance.

Aflac improved $1.40 to $45.91 after Morgan Stanley upgraded the stock to Overweight.

 

EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/01/11/stock-market-outlook-f...

Note seasonality chart on the U.S. Technology sector.

Technical Notes for Monday January 11th

Natural Gas ETN (UNG) moved above $10.05 completing a double bottom pattern. Weather forecasters are warning about a “Polar Vortex” heading to western Canada and the northwestern U.S. states with colder than average temperatures and higher than average precipitation (i.e. snow) between now and March.

Biotech ETF (BBH) moved above $176.88 and $177.49 to an all-time high extending an intermediate uptrend. Responding to news from the Morgan Stanley’s Healthcare conference this week!

Biogen (BIIB), a NASDAQ 100 stock moved above $254.00 and $254.41 completing a base building pattern.

Lockheed Martin (LMT), an S&P 100 stock moved below $334.78 setting an intermediate downtrend.

Advanced Micro Devices (AMD), a NASDAQ 100 stock moved above $97.98 to an all-time high extending an intermediate uptrend.

Xilinx (XLNX), a NASDAQ 100 stock moved above $154.12 to an all-time high extending an intermediate uptrend.

Cisco (CSCO), a NASDAQ 100 stock moved above $45.20 extending an intermediate uptrend.

AbbVie (ABBV), an S&P 100 stock moved above $109.15 extending an intermediate uptrend.

American Tower (AMT), a NASDAQ 100 stock moved below $214.21 extending an intermediate downtrend.

Fortis (FTS), a TSX 60 stock moved below $51.10, $50.90 and $50.82 extending an intermediate downtrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 11th 2021

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for January 11th 2021

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for January 11th 2021

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Thank you to David Chapman and www.enrichedinvesting.com for a link to their weekly comment. Headline for the January 11th comment reads, “Democracy assault, higher markets, bitcoin mania, rates soar, gold down, oil rises, worse possible”. Following is the link:

Library | Enriched Investing Incorporated (frontlinesafeguard.com)

P.S. Also includes a link to previous weekly reports

 

S&P 500 Momentum Barometer

The Barometer dropped 4.21 to 79.76 yesterday. It changed from extremely intermediate overbought to intermediate overbought on a drop below 80.00.

 

TSX Momentum Barometer

The Barometer dropped 4.90 to 71.29 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

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue