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Tech Talk Financial Network in Timing the market,

Tech Talk for Tuesday August 23rd 2016

 

Observation

Quiet trading in North American equity markets yesterday!

 

StockTwits Released Yesterday

Canadian bank stocks in focus as earnings are released in the days ahead.

Dow Jones Industrial Average, TSX Composite Index and S&P 500 Index fall below their 20 day moving average.

Editor’s Note: All indices recovered to above their 20 day moving average by the close.

Technical activity by S&P 500 stocks to 10:00 AM: Quiet. Breakout: $HBI. Breakdown: $GRMN

Editor’s Note: No additional stocks broke intermediate support or resistance after 10:00 AM.

Nice breakout by the Agribusiness ETF $MOO above $50.50 extending intermediate uptrend.

The season for strength in Agribusiness ETFs is approaching: $MOO $COW.CA

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for August 22nd 2016


Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for August 22nd 2016

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Sector Trends for August 22nd 2016

Green: Increase from previous day

Red: Decrease from previous day

 

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:

 

Interesting Chart

The Biotech sector moved higher on news that Pfizer was taking over Medivation. Other cancer related biotech stocks responded. ‘Tis the season for strength in the Biotech sector until mid-September!

 

S&P 500 Momentum Barometer

The Barometer was unchanged yesterday at 68.60. It remains intermediate overbought and trending down.

 

TSX Momentum Barometer

The Barometer added 2.26 to 71.06 yesterday. It remains intermediate overbought and rolling over.

 

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