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Tech Talk for Tuesday December 6th 2016

 

Observations

Several surprises yesterday! Selected precious metal stocks moved higher despite weakness in gold prices. European equity markets were strong despite the Italian referendum.

Commodity prices (notably grain and base metal prices) moved higher in response to continuing weakness in the U.S. Dollar Index

Fertilizer stocks and mines & metal stocks responded accordingly.

 

Mr. Vialoux on BNN’s Berman’s Call Yesterday

Following are links to yesterday’s show:

http://www.bnn.ca/video/berman-s-call-part-one~1009593 (Opening)

http://www.bnn.ca/video/berman-s-call-part-two-viewer-questions~1009598 (Viewer Questions)

http://www.bnn.ca/video/berman-s-call-part-three-educational-segment~1009798 (Educational Section)

Following are notes used during the show:

 

Graphics for BNN December 5th 2016

Opening segment discussing market outlook

Performance by S&P 500 Index in December

Past 50 years

Performance of TSX Composite in December

Past 31 years

 

Education segment

TSX market outperformance relative to the S&P 500 Index

Commodity prices move higher from December to early March

Commodity prices move higher from December to early March

Commodity prices move higher from December to early March

Commodity prices move higher from December to early March

Commodity prices move higher from December to early March

StockTwits Released Yesterday @EquityClock

Average hourly earnings show the weakest November change on record.

Technical action by S&P 500 stocks to 2:00 PM: Bullish. Breakouts: $NKE, $XEC, $SLG, $TMK, $LMT. Breakdown: $OI.

Editor’s Note: After 2:00 PM EST, CME broke above intermediate resistance

United Kingdom iShares $EWU completed a double bottom pattern on a move above $30.55.

‘Tis the season for the London FTSE Index to move higher to early January! $EWU

Surprising completion of double bottom patterns in precious metal stocks $ABX $EGO $ELD.CA

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for December 5th 2016

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for December 5th 2016

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Sector Trends for December 5th 2016

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

The Barometer increased 3.40 to 63.40. It remains intermediate overbought and trending higher.

 

TSX Momentum Barometer

The Barometer slipped 0.60 to 57.14 yesterday. It remains slightly intermediate overbought and trending higher.

 

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