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Tech Talk Financial Network in Timing the market,

Tech Talk for Friday June 30th 2017

 

Happy Birthday #150 Canada (tomorrow July 1st)! Canadian equity markets are closed on Monday, July 3rd. Next Tech Talk report is released on Monday.

 

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to Noon: Mixed. 15 stocks broke intermediate resistance and 10 stocks broke support.

Editor’s Note: After noon, no additional breakouts were recorded. Breakdowns included PM, SYK, GD, GE, ADSK, GOOG, MSFT, TEL, MLM, IFF, PX, SNPS and VZ.

S&P 500 breakouts to Noon dominated by Financials: $AIG $BAC $C $CME $GS $HBAN $KEY $PRU $RF $STI $WFC.

S&P 500 breakdowns to Noon dominated by Utilities: $NI $LNT $PPL $SO

More strength in Base Metal ETN $DBB triggered more base metal stock breakouts: $RIO $VALE $ZMT.CA

Equal Weight Cdn. Bank ETF $ZEB.CA moved above $27.08 setting a new intermediate uptrend.

TransCanada PipeLines $TRP.CA moved below $61.33 setting new downtrend.

iShares TSX Gold Miners ETF $XGD.CA moved below $12.21 setting an intermediate downtrend.

A break by the NASDAQ Composite Index below its 50 day moving average at 6,149.68 signals a change in trend.

Editor’s Note: Later, the Index broke below 6,107.85 completing a double top pattern.

The VIX Index spiked 26.72% to 12.71 and moved above its 200 day moving average.

‘Tis the season for the VIX Index to move higher from early July to mid-October.

General Electric $GE, a Dow Jones Industrial stock moved below $216.87 extending an intermediate downtrend.

Microsoft $MSFT, a Dow Jones Industrial stock moved below $68.13 completing a double top pattern.

Verizon $VZ, a Dow Jones Industrial stock moved below $44.36 extending an intermediate downtrend.

Technology SPDRs $XLK moved below $54.55 completing a double top pattern.

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for June 29th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for June 29th 2017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for June 29th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

The Barometer plunged 11.80 to 60.60 yesterday. It remains intermediate overbought and trending down.

 

TSX Momentum Barometer

The Barometer dropped 9.09 to 41.74 yesterday. It remains intermediate neutral and trending 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