Tech Talk for Friday February 2nd 2018

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Observation

The long term Treasury ETF dropped below $121.40 completing a Head & Shoulders pattern.

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StockTwits Released Yesterday @EquityClock

Open Text $OTEX, a TSX 60 stock moved above $35.80 to an all-time high extending an intermediate uptrend.

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AT&T $T, a Dow Jones Industrial stock moved above $38.81 completing a reverse Head & Shoulders pattern.

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Technical action by S&P 500 stocks to 10:00: Mixed. Breakouts: $NLSN $CCI, $T. Breakdowns: $HRL, $HSY, $CHK $ALXN

Editor’s Note: After 10:00 AM EST, another 10 stocks broke intermediate support and two stocks (IR and AON) broke resistance

Trader’s Corner

Daily Seasonal/Technical Equity Trends for February 1st 2018

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Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for February 1st 2018

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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 February 1st 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P Momentum Barometer

The Barometer dropped another 2.00 to 73.20 yesterday. It remains intermediate overbought and trending down

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TSX Momentum Barometer

The Barometer dropped another 2.47 to 35.80 yesterday. It remains intermediate neutral and trending down.

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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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12 Responses to “Tech Talk for Friday February 2nd 2018”

  1. Larry/ON Says:

    BAC – will benefit most out of all the US banks from interest rate increases

  2. Larry/ON Says:

    KBE (US Banks), KRE (US regional banks) – both up today – for now

  3. Dave Leigh Says:

    Larry / On

    How do you know BAC will benefit from higher rates. Why will this bank benefit the most. Generally when rates go up banks do less well as people tend to borrow less when rates are higher.

    Looking to understand.

  4. Larry/ON Says:

    Dave Leigh – When interest rates go up banks benefit from higher net interest margins. Attached is an old article from March 2017
    http://markets.businessinsider.com/news/bonds/banks-that-will-gain-the-most-from-rising-rates-2017-3-1001824472-1001824472

  5. Larry/ON Says:

    ZBK.TO – Easiest way to get into US banks. Un-hedged so you get the benefit of the $CAD drop that should really be happening going forward due to prospects for rate hikes in US. If you want to be hedged you use ZUB.TO.

  6. Ron/BC Says:

    Nice to see the broad market selling off. It’s about time to see the markets get their asses kicked and come back down to earth for a change. It’s never healthy for the markets to see extended rallies without descent pullbacks.

  7. tony Says:

    Larry

    is zub concentraded 100% inbac since sept 2017?
    The charts are similar.

    from oct 2016 bac was trading at 14 while zub was at 18$/sh

  8. Larry/ON Says:

    Tony – have a look at the link for the holdings – The charts may look similar by coincidence. I have been heavily in the US bank trade since Trump was elected.
    https://www.bmo.com/assets/pdfs/gam/qpd-etf/en/2016-bmoZUB-Eng.pdf

  9. Ron/BC Says:

    Mick/NV
    NTR
    I printed off that list of places to see and go in Palm Springs that you posted for me. Unfortunately I put it somewhere I wouldn’t lose it and of course I can’t find it now despite tearing my place apart. If you have time, could you post those sites again as I’ve never been there and do want to make the most of my time there. I did buy a book on S.California and will visit the Tourist Center for suggestions as well. Any suggestions on Palm Springs would be appreciated.

  10. Larry/ON Says:

    AMAT – I offer this supplier of semi-conductor companies as a value play that has been trashed and should do well. Trades at 16 times earnings and has steadily grown EPS.

  11. Ron/BC Says:

    I see there are two Feb 2nd blogs today with posts on both. Don’t know why they do that.

  12. Sherri Says:

    see other Feb 2nd blog for Armstrong update today

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