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Tech Talk Financial Network in Timing the market,

Tech Talk for Tuesday November 7th 2017

 

Observations

Merry Jane stocks and their related ETF were “smoking” yesterday.

Energy stocks and related ETFs dominated upside technical action yesterday on both sides of the border.

Higher crude oil and particularly higher natural gas prices (up over 5%) triggered the move.

‘Tis the season for strength in natural gas prices to mid-December as colder than average weather enters eastern Canada and the north eastern U.S.!

The CRB Index and its related ETFs surged to a 16 month high.

Even precious metal prices and precious metal equity prices recorded good gains. Leader among precious metal equities were Franco-Nevada and Wheaton Precious Metals. The sector currently is in a base building mode prior to its period of seasonal strength from mid-December to the end of February.

 

StockTwits Released Yesterday

Verizon $VZ, a Dow Jones Industrial stock moved below $45.17 extending an intermediate downtrend.

Editor’s Note: The Telecom sector continues to go through a rough period

Patterson Dental $PDCO moved below $35.68 extending an intermediate downtrend.

QualComm $QCOM moved above $58.66 completing a base building pattern.

Emerging Markets ETF $EEM moved above $46.62 to an all-time high extending an intermediate uptrend.

 

Trader’s Corner

Daily Seasonal/Technical Equity Trends for November 6th 2017

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for November 6th 2017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for November 6th 2017

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

The Barometer slipped 0.80 to 65.60 yesterday. It remains intermediate overbought and trending down.

 

TSX Momentum Barometer

 

The Barometer added 0.41 to 69.29 yesterday. It remains intermediate overbought 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