Tech Talk for Thursday June 7th 2018

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Pre-opening Comments for Thursday June 7th

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade.

Index futures were virtually unchanged following release of the Weekly Jobless Claims report at 8:30 AM EDT. Consensus was 225,000 versus 221,000 last week. Actual was 222,000.

JM Smucker dropped $7.82 to $98.70 after reporting lower than consensus fiscal fourth quarter sales and earnings.

Thomson Reuters added $2.44 to $42.00 after announcing a $1 billion addition to its stock buyback program.

AT&T slipped $0.19 to $33.19 after Piper Jaffray downgraded the stock to Hold from Buy.

Darden Restaurants (DRI $90.91) is expected to open higher after SunTrust upgraded the stock to Buy from Hold.

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/06/06/stock-market-outlook-for-june-7-2018/

Note seasonality charts on Crude Oil Days of Supply, Gasoline Days of Supply, Crude Oil, Canadian Merchandise Exports and Canadian Merchandise Exports.

Observations

U.S. Dollar Index and its related ETF are rolling over from overbought levels.

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Biotech was one of the leading sectors yesterday. Reverse Head & Shoulders pattern by BBH!

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Junior Biotech ETF XBI moved to an all-time high.

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‘Tis the season for strength in the Biotech sector to at least the end of July!

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StockTwits Released Yesterday @EquityClock

Global Timber iShares $WOOD moved above $82.90 to an all-time high extending an intermediate uptrend.

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Base Metal stocks are responding to higher base metal prices. Breakouts by $TECK $RIO $FCX.

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Editor’s Note: First Quantum Minerals (FM.TO) joined the list of breakouts in late trading.

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U.S. utilities stocks are responding to higher Treasury yields. Breakdowns by: $EIX $NI $PPL $XEL.

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More Utilities break downs through intermediate support: $AEP $CMS $D $ED $AWK

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Utilities SPDRs $XLU moved below $48.61 setting intermediate downtrend.

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Boeing $BA, a Dow Jones Industrial stock moved above $369.76 to an all-time high extending an intermediate uptrend.

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Healthcare SPDRs $XLV moved above $83.95 completing a double bottom pattern.

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Materials SPDRs $XLB moved above $60.25 setting intermediate uptrend.

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Interfor $IFP.CA moved above $26.50 to an all-time high extending an intermediate uptrend.

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Corn ETN $CORN moved below $17.54 extending an intermediate downtrend.

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Fertilizer stocks and related ETFs surged in late trading: $NTR.CA $MOS $SOIL $COW.CA

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for June 6th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for June 6th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Sector Trends for June 6th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

The Barometer added 5.48 to 67.00 yesterday. It remains intermediate overbought.

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TSX Momentum Barometer

The Barometer slipped 1.25 to 69.58 yesterday. It remains intermediate overbought and showing signs of rolling over.

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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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9 Responses to “Tech Talk for Thursday June 7th 2018”

  1. BrianK Says:

    I can vividly picture JD talking up Home Cap and a couple of the healthcare stocks.

    Is anyone thinking of buying Teck on a breakout? Would like to see a breakout on the NYSE.

  2. BrianK Says:

    On Teck I mean a break above $ 30.76.

  3. Vik Says:

    Re: Mawer

    In the past I have read a number of positive/constructive posts here about Mawer Funds. I am not very familiar with them.

    I have some money which I would prefer not to trade with and would like to keep it somewhere where I will get a decent return vs. savings account/GIC etc.

    Would appreciate your thoughts/ideas on Mawer or other options. Thank you!

  4. KC Says:

    Vik,

    I think it was Bernie who follows the Mawer funds. I’d be interested in hearing about them again as well. I’ve recently sold some other funds and would possibly look at moving to Mawer.

    KC

  5. Bernie Says:

    Vik,

    Mawer has 13 mutual funds in their stable, 12 are available for sale, one is closed. If interested I suggest checking them out via their website for a start. Here’s a link (below) to their annualized performances to Mar 31st. For more in depth fund info you can click on any fund from this page. Mawer Balanced Fund (MAW104) might meet your need for reasonable stability, performance and safety. Its a globally balanced fund currently about 68% equities and 32% fixed income. Its Mawer’s oldest fund initiated in Feb 1988. The lifetime annualized return is near 8.5%. Only two years were under water; 1994 (-2.25%) and 2008 (-16.11%). This one fits Mawer’s motto, “Be Boring. Make Money” the closest. I like several of the funds in Mawer lineup but this one has been the least volatile over the years. As you can see from the performance numbers Mawer funds frequently beat the index they benchmark, not to mention other mutual funds and comparable ETFs. Mawer funds can be purchased directly, subject to a minimum $50K account size or via discount brokers per a minimum $5K initial purchase. As far as I know they can be purchased or sold commission-free via most brokers if held a minimum of three months. I’d check your broker for more purchase details.
    http://www.mawer.com/funds/performance/

  6. Bernie Says:

    Vik,

    I’ve attached a very long TA price chart below for Mawer Balanced Fund (MAW104)
    https://www.barchart.com/etfs-funds/quotes/MAW104.CF/technical-chart?plot=LINE&volume=0&data=DO&density=X&pricesOn=1&asPctChange=0&logscale=0&startDate=1988-02-12&endDate=2018-06-07&daterange=specific&indicators=EXPMA(50);EXPMA(10);SMACD(20,50,10);SMACD(20,50,1)&sym=MAW104.CF&grid=1&height=500&studyheight=100

  7. Bernie Says:

    Vik,

    The above is a daily chart. This weekly chart shows better. I suggest highlighting the entire address, then copying and pasting to get all the technical info.
    https://www.barchart.com/etfs-funds/quotes/MAW104.CF/technical-chart?plot=LINE&volume=0&data=WO&density=L&pricesOn=1&asPctChange=0&logscale=0&startDate=1988-02-12&endDate=2018-06-07&daterange=specific&indicators=EXPMA(50);EXPMA(10);SMACD(20,50,10);SMACD(20,50,1)&sym=MAW104.CF&grid=1&height=500&studyheight=100

  8. Ron/BC Says:

    Bernie
    Thanks for the links etc. Just looking at the chart and adding a few technical studies I see price is once again testing $29 and has been doing this since December. Also there is a negative divergence on the RSI 21 suggesting a pullback. A pullback would likely see it drop back to $26-$26.50. None of this technical ‘stuff’ may mean anything for holding the Fund. I don’t know if it matters much what the price per unit is as long as it is paying a dividend. Never owned one long enough to see. Personally I agree the Mawer Funds look very good and I printed off all their Funds some time ago to compare. I personally would like to see a major pullback in the broad market to a major support area and then put some money into them but perhaps that isn’t that important to Fund holders. Not my expertise………Meanwhile I’ll wait for that. Notice how price topped out at $17 in 2007 and it wasn’t until 2012 which is 5 years later that if finally broke out above that price point. Again,perhaps it didn’t matter overall if you bought it before 2012 or not. You would have a better idea of the results than I would. Thanks again for the links etc………….

  9. Bernie Says:

    Ron/BC,

    I put the info/charts up for Vik per his request for Mawer info but you’re welcome if the links were of benefit to you. I felt Mawer Balanced Fund might work for Vik’s concern. I recall you being more interested in Mawer’s Global Fund (MAW120) which doesn’t have any fixed income content. Regardless of which fund is suitable I have come to agree with you that it would be prudent to exit at an arbitrary “line in the sand” and hold cash until the price recovers before re-entering. Mawer funds perform well over the long hall but, like all securities, they don’t always have their day in the sun. If one had taken leave from the Balanced fund between late 2007 to mid 2009 per your “modified (20,50) MACD” strategy they could have avoided almost the entire price drop. Mawer funds are more about growth than dividends anyway so I feel it may be in ones best interest to have a solid entry/exit plan.

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