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Tech Talk Financial Network in Timing the market,

Tech Talk for Tuesday October 31st 2017

 

Another Milestone

Number of followers of EquityClock Stocktwits exceeded 44,000 yesterday. Previous milestone at 43,000 followers was reached on October 10th

Observation

TSX Composite Index closes above 16,000 for the first time in history.

Brazil’s Bovespa Index and related ETF, $EWZ have completed double top patterns.

 

StockTwits Released Yesterday @EquityClock

Apple $AAPL, a Dow Jones Industrial stock moved above $164.94 to an all-time high extending an intermediate uptrend.

Russell Metals $RUS.CA moved above $28.47 and $28.51 to a 3 year high extending an intermediate uptrend.

Technical action by S&P 500 stocks to 10:00: Mixed. Breakouts: $AAPL $AVGO $ATVI. Breakdowns: $PFE $LEG

Editor’s Note: After 10:00 AM EDT, breakouts included COG, HP, XLNX, QRVO and CCI. Breakdowns included HBI, M, TWX, MDLZ, SLG, CCI and VZ

CGI Group $GIB moved above US $53.65 to an all-time high extending an intermediate uptrend.

Verizon $VZ, a Dow Jones Industrial stock moved below $$47.70 changing trend from up to neutral.

Wheaton Precious Metals $WPM moved above US$21.30 completing a base building pattern.

Merck $MRK, a Dow Jones Industrial stock broke more support levels at $57.30 and $56.60.

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for October 30th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for October 30th 2017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for October 30th 2017

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards’ Blog

I dunno!

Following is a link:

http://www.valuetrend.ca/i-dunno/

 

S&P 500 Momentum Barometer

More evidence of an intermediate rollover! The Barometer dropped another 3.00 to 66.60 yesterday. It remains intermediate overbought and trending down.

 

TSX Momentum Barometer

The Barometer added $4.94 to 69.14 yesterday. It remains intermediate overbought.

 

Disclaimer: Seasonality and technical ratings offered in this report 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