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Tech Talk for Thursday October 20th 2016

 

Observations

Nice breakout by the TSX Composite Index above recent resistance levels at 14,841.23 and 14,855.69 to reach a 15 month high extending an intermediate uptrend.

 

StockTwits Released Yesterday @EquityClock

Gauges of inflation gaining upside momentum.

Technical action by S&P 500 stocks to 10:00: Quietly mixed. Breakouts: 4USB, $CTXS, $FSLR. Breakdowns: $GPC, $ABT

Editor’s Note: After 10:00 AM EDT, SLB, AMT, WHR and NRG broke above intermediate resistance

Crude oil moved above $51.67 completing long term reverse Head & Shoulders pattern. $USO

Energy stocks are responding to breakout by crude oil. Breakouts by $SLB and $ERF.CA

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for October 19th 2016

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for October 19th 2016

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Sector Trends for October 19th 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 are examples:

 

S&P 500 Momentum Barometer

The Barometer gained 4.80 to 36.40. It has started to recover from an intermediate oversold level.

 

TSX Momentum Barometer

The Barometer gained another 1.69 to 55.25 yesterday. It remains intermediate neutral and starting to trend up.

 

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