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Tech Talk Financial Network in Timing the market,

Tech Talk for Thursday July 13th 2017

 

Observations

Interesting response by the TSX Composite Index to the 0.25% Bank Rate increase and news conference after the announcement! The Index opened up about 150 points in response to strength by U.S. equity indices triggered by Janet Yellen’s pre-release to the House Committee. When the news conference confirmed that the Bank of Canada is considering further rate increases, the TSX Composite quickly lost all of its gain and closed at a small loss.

The Canadian Dollar soared on the news.

 

StockTwits Released Yesterday @EquityClock

Techs by S&P 500 stocks to 10:00: Breakouts: $MHK $GT $FAST $UAL $WM $FB $AMAT $CTSH $XLNX $DOW $NRG. Breakdowns: $HOG $KMB $WLTW

Editor’s Note: After 10:00 AM EDT, breakouts included CI, CSRA, TEL, WDC, COL, DD, COO, TDG, ALB and NVDA. Breakdowns included COTY, FAST, GWW and CTL

More base metal stock breakouts: $TECK $SCCO

Encana $ECA $ECA.CA completed a double bottom pattern on a move above US$9.02.

China large cap iShares $FXI moved above $40.52 to a 3 year high extending an intermediate uptrend.

Toronto Dominion Bank $TD.CA moved above $65.58 setting new intermediate uptrend.

Industrial SPDRs $XMI moved above $69.18 to an all-time high extending an intermediate uptrend.

Brazil iShares $EWZ moved above $35.54 setting new intermediate uptrend.

Emerging Markets iShares $EEM moved above $42.01 to a 3 year high extending an intermediate uptrend

Materials SPDRs $XLB moved above $54.96 to an all-time high extending an intermediate uptrend.

Editor’s Note: Most of the gain in XLB came from strength in its chemical subsector:

Wheat prices breaking out during period of seasonal strength $WEAT

Fertilizer stocks and related ETF $SOIL continued to move higher.

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for July 12th 2017

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for July 12th 2017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for July 12th 2017

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer gained 6.60 to 65.20 yesterday. It remains intermediate overbought and trending down.

 

TSX Momentum Barometer

The Barometer added 0.42 to 38.17 yesterday. It remains intermediate oversold and showing early signs of bottoming.

 

Disclaimer: Seasonality and technical ratings offered in this report and 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