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Tech Talk Financial Network in Timing the market,

Tech Talk for Friday May 12th 2017

 

Observation

Natural gas prices established an intermediate uptrend on a move above $3.35 per MBtu

 

StockTwits Released Yesterday

Energy stocks on the move as price of oil jumps following weekly inventory report.

Technical action by S&P 500 stocks to 10:00: Bearish. Breakouts: $KSS $KR $WFM $COG. Breakdowns: SIG $M $SLG $PDCO $PCAR $AN $DOW $EMN

Editor’s Note: After 10:00 AM EDT, no stocks broke intermediate resistance. Breakdowns included SPLS, LUK, PBCT and PCG

Cdn. Financial ETF $XFN.CA moved below $35.29 completing a double top pattern

Editor’s Note: The sector was further pressured when Moody’s downgraded the credit rating of Canada’s top six banks.

Kinross $K.CA moved above $5.55 completing a reverse Head & Shoulders pattern.

Linamar $LNR.CA moved above $63.13 extending an intermediate uptrend.

Stantec $STN.CA moved below $32.80 completing a Head & Shoulders pattern.

Industrial Alliance $IAG.CA moved below $54.55 completing a Head & Shoulders pattern.

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for May 11th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for May 11th 2017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for May 11th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

CSTA News

Next Downtown Toronto Chapter Meeting

Time and Date: Noon EDT: May 24th

Location: Suite 2205A 120 Adelaide St. W

Speaker: Stephen Hamer

Topic: How to make Points and Figure Charts work for you.

Annual CSTA Meeting

Time and Date: 11:00 AM EDT June 5th

Location: Sheraton Center

Speaker: Larry Berman

Topic: Incorporating Behavioural Finance Biases into your Investment Process

Register for events at www.csta.org

 

S&P 500 Momentum Barometer

The Barometer slipped 1.20 to 59.40 yesterday. It remains intermediate overbought and trending down.

 

TSX Momentum Barometer

The Barometer slipped 1.86 to 50.82 yesterday. It has dropped down to neutral and continues to trend down.

 

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