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Tech Talk for Wednesday September 23rd 2015

 

Interesting Charts

Equity markets in developed markets around the world moved lower yesterday.

Volatility spiked

 

StockTwits released yesterday @equityclock

Report on existing home sales shows an abnormal decline

 

Editor’s Note: See seasonal charts at

http://www.equityclock.com/2015/09/21/stock-market-outlook-for-september-22-2015/

 

Technical action by S&P 500 stocks to 11:00: Bearish. No breakouts. 17 breakdowns. Prominent breakdowns: $WHR, $APA, $AON, $BEN, $CMI, $ADM

Editor’s Note: After 11:00 AM EDT, another eight S&P 500 stocks broke resistance

U.S. equity indices and related ETFs broke below their 20 day moving average this morning.

Editor’s Note: Ditto for the TSX Composite Index

European ETFs were prominent on the list of breakdowns this morning

Base metal stocks broke support this morning following negative Credit Suisse report including $FM.CA, $HBM.CA, $LUN.CA, $TEK

Volkswagen’s news on emission tests prompted the Platinum ETN to break support at $91.59 to reach an all-time low

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for September 22nd 2015


Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for September 22nd 2015

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for September 22nd 2015

Green: Increase from previous day

Red: Decrease from previous day

Calculating Technical Scores

 

Technical scores are calculated as follows:

 

Intermediate Uptrend based on at least 20 trading days: Score 2

Higher highs and higher lows

Intermediate Neutral trend: Score 0

Not up or down

Intermediate Downtrend: Score -2

Lower highs and lower lows

 

Outperformance relative to the S&P 500 Index: Score: 2

Neutral Performance relative to the S&P 500 Index: 0

Underperformance relative to the S&P 500 Index: Score –2

 

Above 20 day moving average: Score 1

At 20 day moving average: Score: 0

Below 20 day moving average: –1

 

Up trending momentum indicators (Daily Stochastics, RSI and MACD): 1

Mixed momentum indicators: 0

Down trending momentum indicators: –1

 

Technical scores range from -6 to +6. Technical buy signals based on the above guidelines start when a security advances to at least 0.0, but preferably 2.0 or higher. Technical sell/short signals start when a security descends to 0, but preferably -2.0 or lower.

 

Long positions require maintaining a technical score of 0.0 or higher. Conversely, a short position requires maintaining a technical score of 0.0 or lower.

 

GlobeInvestor Column

Column is entitled, “Market correction still has a few weeks to run”. Authors are Ron Meisels and David Tippin. Following is a link:

http://www.theglobeandmail.com/globe-investor/investment-ideas/research-reports/market-correction-still-has-a-few-weeks-to-run/article26455866/

Editor’s Note: Tech Talk is making a similar call on Canadian and U.S. equity markets, but with different sources.

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.