Tech Talk for Tuesday January 11th 2022
Technical Notes released yesterday at
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.
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.
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.
Brrrrrr! It’s cold out there. Natural gas ETN moved above $13.32 completing a bottoming pattern.
NASDAQ Composite Index moved below 14,931.06 and 14,860.04 completing a double top pattern.
Retail SPDRs moved below $83.54 extending an intermediate downtrend
First Trust Biotech ETF moved below $150.71 extending an intermediate downtrend.
Home Builders SPDRs moved below $78.61 completing a double top pattern.
Lithium ETN moved below $78.42 extending an intermediate downtrend.
Amazon an S&P 100 stock moved below $3,175.76 and $3,176.25 completing a double top pattern.
Nike a Dow Jones Industrial Average stock moved below $155.47 extending an intermediate downtrend. The stock was downgraded by HSBC
Ross Stores a NASDAQ 100 stock moved below $103.62 extending an intermediate downtrend.
Costco a NASDAQ 100 stock moved below intermediate support at $514.04
Seattle Genetics a NASDAQ 100 stock moved below $141.24 extending an intermediate downtrend
DocuSign a NASDAQ 100 stock moved below $131.51 extending an intermediate downtrend.
Advanced Micro Devices a NASDAQ 100 stock moved below $130.60 completing a double top pattern.
Marvell a NASDAQ 100 stock moved below $81.52 completing a double top pattern.
T Mobile a NASDAQ 100 stock moved below $106.70 extending an intermediate downtrend.
Lowe’s an S&P 100 stock moved below $242.30 completing a Head & Shoulders pattern.
PayPal a NASDAQ 100 stock moved below $179.15 extending an intermediate downtrend.
CGI Group a TSX 60 stock moved below US$82.98 and Cdn$105.78 extending an intermediate downtrend.
Saputo 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
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
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