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Tech Talk for Friday June 21st 2019

 

Observation

The S&P 500 Index closed at an all-time high.

The Dow Jones Industrial Average moved above 26,695.96 and is testing its all-time high at 26,951.81

European equity indices and related ETFs also broke to new recent highs.

EAFE also broke to a new recent high.

Strength in equity indices was triggered by weakness in the U.S. Dollar Index and related ETN

 

StockTwits released yesterday @EquityClock

Another manufacturer sentiment report shows a negative result for June. Philadelphia Manufacturing Business Outlook Index comes in at -1.7 (NSA), well below the +8.1 that is average for this time of year. $MACRO #Economy #Manufacturing

Technical action by S&P 500 stocks to 10:00: Bullish. Breakouts: $AMZN $NIKE $ULTA $WHR $GIS $BHGE $MCO $BAX $BMY $ISRG $NKTR $PKI $REGN $AGN $CMI $FBHS $TDG $FISV $IT $ORCL $SYMC $NEM $INCY Breakdowns: $CCL $DRI $KR

Editor’s Note: After 10:00 AM EDT, intermediate breakout: FLS. No breakdowns.

Lots of gold stock breakouts this morning! Examples: $ABX.CA $K.CA

Dow Jones Industrials ETF $DIA moved above $266.20 to an all-time higher extending an intermediate uptrend

S&P 500 ETF $SPY moved above $294.95 to an all-time high extending an intermediate uptrend.

Brookfield Asset Management $BAM $BAM.A.CA, a TSX 60 stock moved above $44.26 U.S. to an all-time high extending an intermediate uptrend.

Another Canadian precious metals producer breakout! First Majestic $FR.CA moved above $9.64 extending an intermediate uptrend.

Cameco $CCJ $CCO.CA, a TSX 60 stock moved above $10.63 U.S. completing a double bottom pattern.

 

Trader’s Corner

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for June 20th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for June 20th 2019

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for June 20th 2019

Green: Increase from previous day

Red: Decrease from previous day

Josef Schachter on BNNBloomberg Yesterday

Market Call

https://www.bnnbloomberg.ca/video/josef-schachter-s-market-outlook~1711867

Past Picks

https://www.bnnbloomberg.ca/video/josef-schachter-s-past-picks~1711871

Top Picks

https://www.bnnbloomberg.ca/video/josef-schachter-s-top-picks~1711986

 

Keith Richard on BNN Bloomberg Yesterday

 

Market Call

https://www.bnnbloomberg.ca/video/keith-richards-market-outlook~1712560

Past Picks

https://www.bnnbloomberg.ca/video/keith-richards-past-picks~1712600

Top Picks

https://www.bnnbloomberg.ca/video/keith-richards-top-picks~1712632

 

S&P 500 Momentum Barometer

The Barometer gained 6.41 to 69.94 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

The Barometer added 1.45 to 61.70 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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