Tech Talk for Tuesday March 13th 2018

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Pre-opening Comments for Tuesday March 13th

U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade.

Index futures were moved higher following release of the February Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.2% versus a revised gain of 0.5% in January. Actual was an increase of 0.2%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.3% in January. Actual was an increase of 0.2%.

Dick’s Sporting Goods dropped $1.56 to $31.00 after reporting lower than consensus fiscal third quarter revenues.

Qualcomm dropped $2.88 to $59.93 after President Trump blocked a takeover bid by Broadcom. Broadcom added $3.06 to $265.90.

Dollar General (DG $88.61) is expected to open lower after RBC Capital lowered its target price to $101 from $110.

General Electric dropped $0.38 to $14.72 after JP Morgan lowered its target price to $11 from $14.

Jon Vialoux’s EquityClock Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/03/12/stock-market-outlook-for-march-13-2018/

 

Observations

REIT iShares moved above $75.25 completing a double bottom pattern.

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‘Tis the season for strength in the U.S. REIT sector until early May!

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StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bullish. Breakouts: $MO $HBAN $ICE $GE $JCI $AVGO, $GLW $$SYMC $PPG $AWK $GS. No breakdowns.

Editor’s comment: After 10:00 AM EST, breakouts included CVX, BSX, NVDA, LUV, INFO, GLW, INTU, OI and AIV. Breakdown: SIG.

General Electric $GE, a Dow Jones Industrial stock moved above $15.10 completing a double bottom pattern.

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‘Tis the season for General Electric $GE to move higher to the end of April!

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Goldman Sachs $GS, a Dow Jones Industrial stock moved above $273.02 to an all-time high extending an intermediate uptrend.

Editor’s Note: The stock responded to change in management succession

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IAMGold $IMG.CA moved below $6.44 extending an intermediate downtrend.

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Chevron $CVX, a Dow Jones Industrial stock moved above $118.09 completing a double bottom pattern.

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‘Tis the season for Chevron $CVX to move higher to the end of April!

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Nvidia $NVDA is leading the tech sector with a breakout above $251.81 to an all-time high extending an intermediate uptrend.

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‘Tis the season for Nvidia to move higher to the end of May!

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Encouraging news for Canadian “gassy” stocks! Tourmaline Oil $TOU.CA moved above $20.03 completing a double bottom pattern.

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for March 12th 2018

spx for march 13

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for March 12th 2018

crb for march 13

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for March 12th 2018

xlk for march 13

Green: Increase from previous day

Red: Decrease from previous day

 

Keith Richards’ Blog

Seasonals positive for the loonie, but are they enough? Headline reads, “They must be loonie”. Following is a link:

http://www.valuetrend.ca/they-must-be-loonie/

 

S&P 500 Momentum Barometer

The Barometer slipped 2.80 to 53.20 yesterday. It remains intermediate neutral.

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TSX Momentum Barometer

The Barometer added 2.45 to 39.18 yesterday. It remains intermediate oversold.

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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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10 Responses to “Tech Talk for Tuesday March 13th 2018”

  1. Larry/ON Says:

    Two Stock No-Brainer Portfolio – The theme continues to be US financials and tech. With MSFT and BAC you have stocks consistently outperforming their sectors that at the same time are not overvalued and both have recently broken out above resistance. Those are my biggest holdings.

  2. Rol Lew Says:

    relative strength screeners…….

    5 etf’s that I should have bought 21 days ago SOXL TECL LABU TQQQ CWEB

    https://www.etfscreen.com/rsftrends.php?wl=0&s=default&t=6&d=i&ftS=yes&ftL=yes&vFf=dolVol21&vFl=gt&vFv=100000&d=i&rs=1

    liquid stocks up on the week & on the month
    https://www.finviz.com/screener.ashx?v=211&f=sh_curvol_o1000,sh_opt_option,sh_price_o50,ta_perf_4wup,ta_perf2_1wup,ta_rsi_nos50&ft=4

    SPDR sector tracker – 1 mth – XLK components

    http://www.sectorspdr.com/sectorspdr/tools/sector-tracker

  3. Rol Lew Says:

    barchart – etf scanner

    https://www.barchart.com/etfs-funds/top-100-etfs?viewName=main

  4. Larry/ON Says:

    Short-Term Consolidation – The market looks like it is waiting for the four day MA to catch up to it before it moves higher.
    David Rosenberg is calling for a double-top
    https://www.cnbc.com/2018/03/13/its-the-9th-inning-of-the-bull-market-david-rosenberg-warns.html
    At the same time David Burrows talks about tech taking out all-time highs after a 17 year consolidation: “It signals we are beginning a new leg in the revolution that is the internet of things.”
    Take your pick.

  5. Sandra Says:

    FM.TO reaching strong resistance. Will it pierce the strong resistance??

  6. Bernie Says:

    Two Stock No-Brainer Dividend Portfolio: SMU.UN and DRG.UN. Both have significantly outperformed SPY over the past 3 years while providing 3X the income. Not quite the performance of MSFT/BAC but more than double the income. Why stick with 2, buy all 4 to add dividend growth to the mix.

  7. Ron/BC Says:

    Bernie
    So there you are. I was about to call the stock market police after you went MIA but decided to wait it out. Whatcha been up to?

  8. Bernie Says:

    Ron/BC, not a whole heck of a lot. Have been trying to wean myself off of watching the market but old habits die hard as you know. I haven’t posted in over a month because they wasn’t much noteworthy to comment on. If it weren’t for the remaining snow cover around here I’m be escaping to the links like you. Depending on how close one gets to Kootenay Lake, which never freezes, the snow depth around here varies from almost zero to 2 feet. Our golf course snow cover is near the latter depth. The projected opening is April 12th. Hopefully our sump pump keeps our basement dry while the snow melts. There hasn’t been much rain yet, touch wood!

  9. Ron/BC Says:

    Bernie
    Ok, I agree. Even the Utility stocks haven’t turned around yet. Gold is doing nothing and many other stocks are trading sideways to down. It’s been a choppy broad market for sometime now. Especially the $TSX. I have been golfing a little when it isn’t raining. One day I went out after a day it rained and I had a nice drive and couldn’t see where it bounced off the fairway. When I got up there I saw it didn’t bounce but stuck in the fairway,lol. But it’s nice to golf without someone behind you all the time. I had a house years ago and had a sump pump in the part basement. There was a natural spring there. Another place I owned had a spring in the back of the yard so I dug a trench to the corned of my house and put in drain tile and drain rock and it ran year round. At least the back yard was dry. Now I just rent and don’t have anything to fix.

    http://stockcharts.com/h-sc/ui?s=%24TSX&p=D&yr=4&mn=0&dy=0&id=p71862852665&a=579408515

  10. Bernie Says:

    Ron/BC, yeah, I’m more of a fair weather golfer. I’ve also had golf balls stuff in the muck. What was really funny was when my driver slipped out of hands during a drive into a torrential downpour. The club went 30 yards down the fairway, the ball went 20.

    You mentioned on the weekend about possibly investing in a globally diversified balanced portfolio. I wanted to say there are three new all-in-one Vanguard ETFs similar to the Questrade portfolios you talked about. The MERs are in the 0.25% range which I think is less than half the MERs of the Questrade products. The ETFs are new but their Vanguard ETF holdings have been around for a few year. Here’s a link, if interested: https://www.vanguardcanada.ca/advisors/articles/research-commentary/vanguard-voices/simple-and-balanced-vanguards-new-etfs.htm?lang=en
    Now if it was me wanting a similar product I’d go with Mawer Balanced Fund or Mawer Global Equity or a combo of these two for better performance and management.

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