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Tech Talk for Wednesday August 9th 2017

 

Observations

OOOOPs! U.S. equity indices moved higher until approximately noon yesterday with the Dow Jones Industrial Average and S&P 500 Index moving to all-time highs. Then, a Washington Post article reported than North Korea is close to capability of placing a small nuclear weapon on top of an ICBM. In addition, President Trump added to North Korea’s recent threatening rhetoric by issuing a warning to North Korea. North American equity markets quickly came under profit taking pressures. The equally weighted S&P 500 Index and its related ETF dropped below their 50 day moving average. In addition, the VIX Index spiked and precious metal prices and related ETFs moved higher.

 

StockTwits Released Yesterday @EquityClock

Markets on the move following strong employment reports in Canada and the U.S. See

http://www.equityclock.com/2017/08/06/stock-market-outlook-for-august-8-2017/

Russian ETF $RUS moved above $20.36 setting an intermediate uptrend.

Oil Services ETF $OIH moved below $$23.63 extending an intermediate downtrend.

Technical action by S&P 500 stocks to 10:15: Bearish. Breakout: $AES. Breakdowns: $EXPE, $MNK $ZTS $CMG

Editor’s Note: After 10:15 AM EDT, breakouts included BAC, JPM, CNP, BMY, FL. Breakdowns included HAL, ZBH and MOS.

JP Morgan $JPM, a Dow Jones Industrial stock moved above $94.51 to an all-time high extending an intermediate uptrend.

Power Corp POW.CA moved above $30.79 extending an intermediate uptrend

Power Financial $PWF.CA moved above $34.32 extending an intermediate uptrend.

Leveraged zinc ETN $LZIC.L moved above $8.68 extending uptrend. Zinc stocks followed: $HBM.CA

Editor’s Note: In addition to higher zinc prices, copper, aluminum, nickel prices and their related ETNs virtually exploded to the upside

Homebuilders SPDRs $XHB moved above $39.22 to a 10 year high extending an intermediate uptrend.

Pembina Pipelines $PPL.CA moved below $42.02 setting intermediate downtrend.

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for August 8th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for August 8th 2017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

 

Daily Seasonal/Technical Sector Trends for August 8th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

WAIS Conference in Niagara Falls

on September 13-15th

Mr. Vialoux is attending the WAIS conference. Following is information

 

Presented by:

 

“WAIS Canada is Canada’s premier alternative investment event when it comes to the scope, depth and breadth of its attendees, be it hedge fund managers, exempt market product providers and dealers, investors, advisors, financiers, service providers or other industry experts.”

 

 

 

S&P 500 Momentum Barometer

The Barometer dropped another 4.61 to 58.12 yesterday. It remains intermediate overbought and trending down.

 

TSX Momentum Barometer

The Barometer slipped 0.19 to 45.19 yesterday. It remains intermediate neutral and is rolling over.

 

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