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Tech Talk for Thursday April 7th 2016

 

Editor’s Note: Jon Vialoux is scheduled to appear on BNN Tonight this evening at 6:00 PM

StockTwits Released Yesterday

Constellation Brands is scheduled to move above resistance at $155.35 at the opening to reach an all-time high.

Negative momentum divergence on the daily chart of the S&P 500 Index suggesting waning buying pressure.

Technical action by S&P 500 stocks to 10:15: Quiet. No breakouts. One breakdown: $KEY.

Editor’s Note: After 10:15 AM, nine S&P 500 stocks broke intermediate resistance: KMX, ABBV, ALXN, AMGN, BIIB, CELG, REGN, CAH

Biotech ETFs $IBB $BBH are streaming higher thanks to intermediate breakouts this morning by $AMGN, $BIIB and $CELG

Editor’s Note: A subsequent breakout by Regeneron added to strength by the sector.

‘Tis the season for strength in the Biotech sector $IBB prior to the ASCO convention in June 3-7th

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for April 6th 2016

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 6th 2016

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for March April 6th 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:

 

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