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Tech Talk for Friday December 7th 2018

 

Observations

Brutal day for North American equity markets yesterday! Two exceptions: Canadian gold stocks and interest sensitive U.S. equities, notably REITs. IYR reached an all-time high.

Russell 2000 was the first broadly based index to break below lows set in late October.

 

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:15: Bearish. 36 stocks broke intermediate support. None broke resistance. $STT

Editor’s Note: After 10:15 AM EST, another 25 S&P 500 stocks moved below intermediate support.

Eurozone ETF $EZU as well as iShares Europe $IEV moved below support extending an intermediate downtrend

United Kingdom iShares $EWU moved below $30.77 extending an intermediate downtrend.

BMO Equal Weight Bank ETF $ZEB.CA moved below $27.41 extending an intermediate downtrend

National Bank $NA.CA, a TSX 60 stock moved below $58.73 extending an intermediate downtrend

Toromont Industries $TIH.CA moved below $56.01 extending an intermediate downtrend

Agnico-Eagle $AEM $AEM.CA, a TSX 60 stock moved above $50.84 Cdn. extending an intermediate uptrend

EAFE iShares $EFA moved below $60.58 extending an intermediate downtrend

Toronto Dominion Bank $TD.CA, a TSX 60 stock moved below $70.32 extending an intermediate downtrend

Sun Life Financial $SLF.CA, a TSX 60 stock moved below $46.48 extending an intermediate downtrend

US Factory Orders down 0.7% (NSA) in October, better than the 1.6% decline that is average for the month. $MACRO #Economy #Manufacturing

Financial SPDRs $XLF moved below $25.02 extending an intermediate downtrend.

Kirkland Lake $KL.CA moved above $30.90 to an all-time high extending an intermediate uptrend

 

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 6th 2018

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for December 6th 2018

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for December 6th 2018

Green: Increase from previous day

Red: Decrease from previous day

 

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