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Tech Talk Financial Network in Timing the market,

Tech Talk for Wednesday July 12th 2017

 

StockTwits Released Yesterday @EquityClock

Job openings fell by 10.3% (NSA) in May, result of a 12.9% (NSA) jump in hires

Wholesale sales rebound in May, up 8.0% NSA, helping to draw down on inventory levels.

Technical action by S&P 500 stocks to 10:00: Quiet. Breakout: $EXPD. Breakdown: $CTXS

Consumer Staples SPDRs $XLP moved below support at $53.98 and $54.06

Retail SPDRs $XRT moved below $38.65 extending an intermediate downtrend.

Another base metal stock breaks out: $FM.CA moved above resistance at $12.40.

More Cdn. base metal stocks breakout extending intermediate uptrends. $LUN.CA $HBM.CA

Editor’s Note: Global copper equity ETF COPX also had a strong day

Extendicare $EXE.CA moved below support at $9.93 developing a flat trend.

Metals & Mining SPDRs $XME moved above $30.51 completing a double bottom pattern.

Editor’s Note: Strength by base metal stocks in the ETF were a major contributor. Strength by steel stocks in the ETF also contributed.

BMO Base Metals ETF $ZMT.CA moved above resistance at $10.20 extending an intermediate uptrend.

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for July 11th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for July 11th 2017

Editor’s Note: Momentum turned higher thanks to weakness in the U.S. Dollar Index

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for July 11th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

The Barometer added 0.60 to 58.80 yesterday. It remains intermediate overbought and trending down.

 

TSX Momentum Barometer

The Barometer added 2.64 to 37.75 yesterday. It remains intermediate oversold and showing early signs of bottoming.

 

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