Tech Talk for Wednesday September 5th 2018

Daily Reports Add comments

 

Observations

Technical action near the close:

Mexico iShares moved below $48.92. NAFTA negotiations requiring Congressional approval with both Canada and Mexico have yet to be completed.

clip_image001

Brazil iShares showing volatility prior to the election on October 7th

clip_image002

Canadian “oily” stocks remain under pressure despite higher crude U.S. crude oil prices. More fallout from delay of the TransMountain Pipeline expansion!

clip_image003

clip_image004

Greek ETF dropped to a 16 month low. Not a good sign for hopes for political and economic stability/growth in Europe!

clip_image005

The Canadian Dollar responded to Trump’s “tweets” on Friday and over the weekend suggesting that U.S. NAFTA negotiators are ‘playing hard ball”. Negotiations resume today.

clip_image006

 

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:15:Bearish. No intermediate breakouts. Breakdowns: $NWSA 4BEN $LH $STX $WDC.

Editor’s Note: After 10:15 AM EDT, breakouts included HD and ICE. Breakdowns included MAS and PXD.

clip_image007

Base Metal stocks under pressure. Breakdowns by $RIO $FM.CA $LUN.CA. Related ETFs $ZMT.CA $PICK.

Editor’s Note: Add Hudbay Minerals to the list.

clip_image008

clip_image009

clip_image010

clip_image011

Base metal equity prices are responding to sharp drops in copper, nickel and zinc prices:

clip_image012

clip_image013

clip_image014

Power Corp $POW.CA, a TSX 60 stocks moved below $28.88 reflecting the breakdown by Power Financial below $30.70. $PWF.CA

clip_image015

clip_image016

TSX Gold iShares $XGD.CA extended an intermediate downtrend triggered by a breakdown by Goldcorp $GG $G.CA.

clip_image017

clip_image018

Editor’s Note: U.S. listed Gold/Silver stocks and their related ETFs also moved below intermediate support.

clip_image019

clip_image020

BCE $BCE.CA $BCE, a TSX 60 stock moved below $53.00 Cdn ($40.19 US) completing a short term topping pattern.

clip_image021

clip_image022

Shaw Coumunictions $SJR $SJR.B.CA , a TSX 60 stock moved below $19.76 U.S. and $26.11 Cdn completing a double top pattern.

clip_image023

clip_image024

South Africa iShares $EZA moved below $51.45 extending an intermediate downtrend.

clip_image025

Laurentian Bank $LB.CA moved below short term support levels following release of fiscal Q3 earnings report.

clip_image026

Cogeco Cable $CCA.CA moved below $63.17 extending an intermediate downtrend.

clip_image027

Saputo $SAP.CA, a TSX 60 stock moved below $38.78 extending an intermediate downtrend. NAFTA/Supply Management concerns?

clip_image028

Loblaw Companies $L.CA, a TSX 60 stock moved below $66.70 setting an intermediate downtrend.

clip_image029

US Total #Construction Spending up 2.3% (NSA) in July, better than the 1.5% increase that is average for the month. $MACRO #Economy

clip_image030

Home Depot $HD, a Dow Jones Industrial stock moved above $203.21 and $204.23 to an all-time high extending an intermediate uptrend.

clip_image031

 

Trader’s Corner

Short term momentum indicators (particularly on commodities) turned down for a wide variety of markets and related ETFs

Equities and Related ETFs

Daily Seasonal/Technical Equity Trends for September 4th 2018

clip_image033

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for September 4th 2018

clip_image035

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for September 4th 2018

clip_image037

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

clip_image038

The Barometer dropped 2.40 to 68.00 yesterday. It remains intermediate overbought and showing signs of rolling over.

 

TSX Momentum Barometer

clip_image039

The Barometer plunged 7.70 to 40.00 yesterday. It remains intermediate neutral and trending down.

 

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

Sponsored By...



4 Responses to “Tech Talk for Wednesday September 5th 2018”

  1. sp Says:

    Auto stocks was down on NAFTA talk, LNR.to was down and recovered, if NAFTA is sign, which auto comp. perform better, Canadian or US? any thought about LNR.to.

    Armstorng article was eye opening? CNN talk politics but USA economy is very strong, USD too.
    Happy trading

  2. KC Says:

    Good Morning Folks,

    Thought I might share a website I stumbled across while looking for heating oil price trends, this morning in case any of you are interested. It actually houses charts for all commodities.

    http://www.indexmundi.com

    Cheers,
    KC

  3. KC Says:

    https://www.indexmundi.com/commodities/

  4. Bernie Says:

    Alpha Power Investing Newsletter: “Sorting Sordid September”
    http://www.alphaim.net/power_newsletter.html

TopOfBlogs Finance Blogs
Entries RSS Comments RSS Log in