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Tech Talk Financial Network in Timing the market,

Tech Talk for Wednesday July 26th 2017

 

Observations

Nice breakout by copper to a 3 year high! Base metal stocks responded accordingly.

Zinc and aluminum prices also rose. DBB is 1/3 copper, 1/3 zinc, 1/3 aluminum. Interesting China play!

 

StockTwits Released Yesterday @EquityClock

Real estate market on solid footing going into the back half of the year. See http://www.equityclock.com/2017/07/24/stock-market-outlook-for-july-25-2017/

Technical action by S&P 500 stocks to 10:00: Bullish. 19 stocks broke intermediate resistance. 5 stocks broke support.

Editor’s Note: After 10:00 AM EDT, breakouts included COTY, DG, DVN, DXC, EL, EXR, FLS, KIM, KR, NEM, PSX, RL, RSG, SNPS, TIF, VLO and ZTS. Breakdown included ZTS, LLY and ALLE.

13 of 19 stocks breaking intermediate resistance were financial stocks.

Financial SPDRs moved above $25.19 to a 10 year high extending an intermediate uptrend.

S&P 500 intermediate breakdowns to 10:00: $HCA $DGC $WAT $PNR $MMM

Base metal stocks to new highs on higher copper prices: $BHP $VALE $FM.CA $LUN.CA $HBM.CA

Editor’s Note: BMO Equal Weight Base Metal ETF had a good day. ’Tis the season!

Fairfax Financial $FFH.CA moved above $582.68 completing a double bottom pattern.

More “gassy” stocks breaking intermediate resistance: $PSK.CA $FRU.CA

Gold stock positive response to Q2 results: $NEM moved above $35.56.

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for July 25th 2017

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for July 25th 2017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for July 25th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

The Barometer added 0.80 to 70.00 yesterday. It remains intermediate overbought and showing early signs of rolling over

 

TSX Momentum Barometer

The Barometer gained 6.25 to 44.17 yesterday. It recovered to a neutral level.

 

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