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Tech Talk for Tuesday January 11th 2022

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

Despite headlines suggesting weakness, December’s payroll report showed the strongest increase for the last month of the year since 1999! Non-Farm Payrolls were actually higher by 72,000 in December, or 0.05% (NSA), a positive divergence compared to the 0.2% decline that is the norm. $STUDY $MACRO #Employment #Economy #NFP #PerspectiveMatters

The growth of Employment in Canada in 2021 was very strong, rising by 872,400, or 4.7%, well above the 1.4% rise that has been average for the calendar year over the past two decades. $STUDY $MACRO #CDNecon #CAD

Market is doing a really good job of defending the 100-day moving average as support on the S&P 500 Index. Let’s see what the close reveals. $SPX $SPY $ES_F

Brrrrrr! It’s cold out there. Natural gas ETN $UNG moved above $13.32 completing a bottoming pattern.

NASDAQ Composite Index $COMPQ moved below 14,931.06 and 14,860.04 completing a double top pattern.

Retail SPDRs $XRT moved below $83.54 extending an intermediate downtrend

First Trust Biotech ETF $FBT moved below $150.71 extending an intermediate downtrend.

Home Builders SPDRs $XHB moved below $78.61 completing a double top pattern.

Lithium ETN $LIT moved below $78.42 extending an intermediate downtrend.

Amazon $AMZN an S&P 100 stock moved below $3,175.76 and $3,176.25 completing a double top pattern.

Nike $NKE a Dow Jones Industrial Average stock moved below $155.47 extending an intermediate downtrend. The stock was downgraded by HSBC

Ross Stores $ROST a NASDAQ 100 stock moved below $103.62 extending an intermediate downtrend.

Costco $COST a NASDAQ 100 stock moved below intermediate support at $514.04

Seattle Genetics $SGEN a NASDAQ 100 stock moved below $141.24 extending an intermediate downtrend

DocuSign $DOCU a NASDAQ 100 stock moved below $131.51 extending an intermediate downtrend.

Advanced Micro Devices $AMD a NASDAQ 100 stock moved below $130.60 completing a double top pattern.

Marvell $MRVL a NASDAQ 100 stock moved below $81.52 completing a double top pattern.

T Mobile $TMUS a NASDAQ 100 stock moved below $106.70 extending an intermediate downtrend.

Lowe’s $LOW an S&P 100 stock moved below $242.30 completing a Head & Shoulders pattern.

PayPal $PYPL a NASDAQ 100 stock moved below $179.15 extending an intermediate downtrend.

CGI Group $GIB $GIB.A.CA a TSX 60 stock moved below US$82.98 and Cdn$105.78 extending an intermediate downtrend.

Saputo $SAP.CA a TSX 60 stock moved above $29.78 completing a double bottom pattern. Seasonal influences are favourable to late March and frequently to early May. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/saputo-inc-tsesap-seasonal-ch...

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Jan.10th 2022

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for Jan.10th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Jan.10th 2021

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)

 

Links from Valued Providers

Larry Williams’ outlook for 2022

 

S&P 500 Momentum Barometers

The intermediate Barometer dropped 4.01 to 60.12 yesterday. It remains Overbought and trending down.

The long term Barometer slipped 0.80 to 70.74 yesterday. It remains Overbought and trending down.

 

TSX Momentum Barometers

The intermediate term Barometer slipped 2.24 to 47.63 yesterday. It remains Neutral and trending down.

The long term Barometer slipped 1.35 to 56.50 yesterday. It remains Neutral and trending down.

 

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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