Tech Talk for Tuesday June 6th 2017

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Pre-opening Comments for Tuesday June 6th

U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.

The U.S. Dollar Index further weakened on international fears. Gold responded by adding $12.10 to $1,294.80 per ounce

Este Lauder (EL $96.30) is expected to open lower after Stifel Nicolaus lowered its target price to $98 from $108.

Paccar (PCaR $62.32) is expected to open higher after UBS upgraded the stock to Buy from Neutral. Target was raised to $75 from $66.

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2017/06/05/stock-market-outlook-for-june-6-2017/

Note seasonality charts on Apple, CRB Index, U.S. Imports and U.S. Exports.

Josef Schachter on Michael Campbell’s MoneyTalks

Josef Schachter is telling investors to hold off energy and energy service stocks for now. He thinks a break through below $40 is possible this month, followed by another dip. It’s at that point he is recommending a portfolio of bargain buys that include… CLICK HERE to listen

 

CSTA Annual Meeting Yesterday

It was great to see old friends again at the annual CSTA meeting. Larry Berman offered an interesting presentation about the “two brains” approach toward investing. A copy will be available shortly at www.csta.org. Don Vialoux was presented with the Top Technician in Traditional Media award.

 

StockTwits Released Yesterday @EquityClock

Weather and retail behind the weakness in May’s Non-farm Payrolls.

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Technical action by S&P 500 stocks to 10:00: Quietly bearish. Breakout: $LKQ. Breakdowns: $SPG $SNI $FRT

Editor’s Note: After 10:00 AM EDT, breakouts included ICE, ABBV and IFF. Breakdowns included CBS, MAC and BMY.

Canadian gold producer stocks $ABX.CA and G.CA moved below support extending downtrends.

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Shaw Communications $SJR moved above US$21.60 to a 30 month high extending an intermediate uptrend.

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Fortis $FTS.CA moved above $45.13 to an all-time high extending an intermediate uptrend.

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Gildan Activewear $GIL.CA moved above $40.15 to a 10 month high extending an intermediate uptrend.

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Russel Metals $RUS.CA moved below $24.41 extending a Head & Shoulders pattern.

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for June 5th 2017

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for June 5th 2017

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Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for June 5th 2017

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Green: Increase from previous day

Red: Decrease from previous day

 

Keith Richards’ Blog

Fangs a lot!

Following is a link:

http://www.valuetrend.ca/fangs-a-lot/

 

S&P 500 Momentum Barometer

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The Barometer slipped 2.40 to 65.00 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer dropped 1.63 to 43.90 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

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5 Responses to “Tech Talk for Tuesday June 6th 2017”

  1. Mick/NV Says:

    Wsp.to which I have mentioned a number of times , moved above r1 pivot point resistance this morning to a record high, the stock is up a little over 16% ytd and looks to continue that trend with both Canada and the U.S. talking about more infrastructure spending, of course that could be just talk. Wsp is not a dividend grower but has paid the same dividend for a number of years and yields around 3%, that should not change going forward

    http://stockcharts.com/h-sc/ui?s=WSP.TO&p=D&b=5&g=0&id=p18878626676&a=386213518

    Over the past 5 years the stock is up 160%, well above the tsx and s&p

    http://stockcharts.com/h-sc/ui?s=WSP.TO&p=D&yr=5&mn=0&dy=0&id=p79214053852

  2. rick Says:

    Small cap index Russell 2000 is exactly in the same spot like in December 2016 , flat.

    It will have to move , up or down .
    So except big cap tech , not a big movement in stocks .

  3. Bernie Says:

    The wide moat 7 Canadian stocks featured in the article have provided safe, sturdy income growth with good price performance over the past 2 decades. Past performance doesn’t dictate future performance but these stocks outperformed and didn’t cut their dividends through 2 major recessions. By themselves the 7 only cover 3 sectors but they do make nice core holdings in a long term portfolio. Personally, I think FTS, CU and EMA would make great additions to make these a great wide moat 10.

    https://seekingalpha.com/article/4078615-dales-high-yield-wide-moat-7-takes-last-recession

  4. BrianK Says:

    Congrats Mick/NV on wsp. I made some good trades in early 14 and 15 but then let it drop off the radar. It has had a good run since mid 16.

  5. Muntazir Says:

    Mick/NV

    Thanks for your postings esp latest on fts & ema as I own them.

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