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Tech Talk for Thursday October 29th 2015

 

StockTwits Released Yesterday @equityclock

Technical action by S&P 500 stocks to 10:15 AM: Mixed. Breakouts: $TSO, $HCBK $MAS, $LVLT. Breakdowns: $NOV, $AKAM, $FLIR, $TDC

Editor’s Note: A late surge by the S&P 500 Index triggered more breakouts including TWX, PSX, MTB, MRK, MYL, GLW, FIS, HRS, LEG, ADSK, CTSH, CMA, FITB, KEY, PNC, UNM.

Technology sector continues to lead U.S. equity markets. Breakouts today included $LVLT, $GLW, $ADSK and $CTSH

Financials responded strongly to the FOMC report. Breakouts included $CMA, $FITB, $KEY, $PNC, $UNM

 

Responses to the FOMC report released at 2:00 PM EDT

As expected the Fed maintained its Fed Fund rate at 0.0-0.25%. Responses to the report primarily focused on implications that an initial increase in the Fed Fund rate was on the table at the December meeting. Following are responses by key markets:

Equity indices initially fell but recovered strongly by end of day

Most of the late gains were concentrated in the U.S. bank sector

Banks responded to higher Treasury yields

The U.S. Dollar Index at its ETF rose sharply on higher Treasury yields

The Canadian Dollar fell on U.S. Dollar strength.

Gold and its ETF fell on strength in the U.S. Dollar

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for October 28th 2015


Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for October 28th 2015

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for October 28th 2015

Green: Increase from previous day

Red: Decrease from previous day

FP Trading Desk Headline

FP Trading Desk headline reads, “Markets shouldn’t be ruling out a Bank of Canada rate cut next year”. Following is a link:

http://business.financialpost.com/investing/trading-desk/markets-shouldnt-be-ruling-out-a-bank-of-canada-rate-cut-next-year

 

Special Free Services available through www.equityclock.com

Equityclock.com is offering free access to a data base showing seasonal studies on individual stocks and sectors. The data base holds seasonality studies on over 1000 big and moderate cap securities and indices. To login, simply go to http://www.equityclock.com/charts/

Following is an example:

^SOX Relative to the S&P 500

 

Disclaimer: Seasonality and technical ratings offered in this report by www.timingthemarket.ca 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.