Tech Talk for Friday December 29th 2017

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The report is released on Tuesday January 2nd 2018

 

Observations

Canadian oil services stocks also have started to move higher during their period of seasonal strength from mid-December to the end of April.

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StockTwits Released Yesterday

Technical action by S&P 500 stocks to 10:45: Quiet. Breakout: $STZ. No breakdowns.

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Solar ETF $TAN moved above $25.05 extending an intermediate uptrend.

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Chart of the year for U.S. equity markets in 2018. History repeats!

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“Gassy” ETF $FCG moved above $22.93 extending an intermediate uptrend.

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Natural gas prices $UNG responding to greater than expected inventory drawdown at this time of year.

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George Weston $WN.CA, a TSX 60 stock moved below $108.08 discontinuing an intermediate uptrend.

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Another gold stock breakout! Agnico Eagle $AEM $AEM.CA, a TSX 60 stock moved above $46.18 extending an intermediate uptrend.

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‘Tis the season for strength in Agnico Eagle $AEM $AEM.CA to move higher from mid-December to the end of February!

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Buoyed by strength in energy and metals sectors, the Canadian Dollar moved back above US79.22 cents.

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for December 28th 2017

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for December 28th 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 December 28th 2017

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

The Barometer added 1.60 to 75.40 yesterday. It remains intermediate overbought.

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TSX Momentum Barometer

The Barometer was unchanged yesterday at 59.50. It remains intermediate overbought.

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Disclaimer: Seasonality and technical ratings offered in this report and at

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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