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Tech Talk Financial Network in Timing the market,

Tech Talk for Tuesday September 29th 2015

 

Editor’s Notes: Mr. Vialoux is scheduled to appear on BNN at approximately 7:45 AM EDT on Wednesday.

Next Tech Talk report is available on Thursday October 1st

Interesting Charts

The S&P 500 Index fell below short term support yesterday, triggering additional selling pressures.

The VIX Index spiked when the S&P 500 broke below short term support.

Valeant Pharmaceutical, Canada’s largest stocks weight in the TSX Composite Index fell sharply with other generic drug manufacturers and had an oversize impact on the TSX Composite.

 

StockTwits Released Yesterday

Technical action by S&P 500 stocks to 10:00: Bearish. No breakouts. Breakdowns: $ESV, $DVA, $MCK, $HPQ, $FCX, $GPS, $NE, $QRVO,

Editor’s Note: Selling pressures accelerated after 10:00 AM EDT. Another 29 S&P 500 stocks broke intermediate support. Notable were Bed Bath & Beyond, American Express, Becton Dickenson, Pfizer and Master Card.

BlackBerry resumed an intermediate downtrend by breaking support at Cdn.$8.56 to reach a 15 month low. $BB.CA

U.S. Oil Exploration ETF $XOP resumed a downtrend by breaking support at $32.62 to reach a 6 year low.

Materials SPDRs $XLB resumed an intermediate trend by breaking support at $39.13 to reach a 2 year low.

‘Tis the season for weakness in the Materials sector on a relative basis until the end of October!

TransCanada resumed an intermediate downtrend by breaking support at $41.95 to reach a 12 month low. $TRP.CA

Russell 2000 Index and related ETF $IWM broke below their August 25th lows to resume an intermediate downtrend.

 

Trader’s Corner

Equity Indices

Daily Seasonal/Technical Equity Trends for September 28th 2015

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 28th 2015

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 28th 2015


Green: Increase from previous day

Red: Decrease from previous day

Calculating Technical Scores

Technical scores are calculated as follows:

 

Intermediate Uptrend based on at least 20 trading days: Score 2

Higher highs and higher lows

Intermediate Neutral trend: Score 0

Not up or down

Intermediate Downtrend: Score -2

Lower highs and lower lows

 

Outperformance relative to the S&P 500 Index: Score: 2

Neutral Performance relative to the S&P 500 Index: 0

Underperformance relative to the S&P 500 Index: Score –2

 

Above 20 day moving average: Score 1

At 20 day moving average: Score: 0

Below 20 day moving average: –1

 

Up trending momentum indicators (Daily Stochastics, RSI and MACD): 1

Mixed momentum indicators: 0

Down trending momentum indicators: –1

 

Technical scores range from -6 to +6. Technical buy signals based on the above guidelines start when a security advances to at least 0.0, but preferably 2.0 or higher. Technical sell/short signals start when a security descends to 0, but preferably -2.0 or lower.

 

Long positions require maintaining a technical score of 0.0 or higher. Conversely, a short position requires maintaining a technical score of 0.0 or lower.

 

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:

 

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.