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Tech Talk for Wednesday August 31st 2016

 

Technical Action by S&P 500 stocks yesterday

Technical action was mixed. Nine S&P 500 stocks broke intermediate resistance and 10 stocks broke support. Financial stocks dominate the list of stocks breaking resistance. Utility stocks dominated the list of stocks breaking support.

 

Interesting Charts

Merge rumors about Agrium and Potash Corp had a significant impact on fertilizer stocks and related ETFs

Strength in Canadian Bank stocks and Manulife triggered a move by the TSX Financial Index to above 253.50 to a 15 month high.

Strength in the U.S. Dollar is having a negative impact on commodity prices

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for August 30th 2016

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for August 30th 2016

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Sector Trends for August 30th 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:

 

S&P 500 Momentum Barometer

The Barometer slipped 1.60 to 62.00. It remains in an intermediate overbought and trending down.

 

TSX Composite Momentum Barometer

The Barometer dropped another 4.46 to 56.22. It remains intermediate overbought and trending down.

 

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