Tech Talk for Wednesday December 26th 2018

Daily Reports Add comments

 

Observations

The VIX Index spiked on Monday on increasing equity market volatility.

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The Nikkei Average plunged 5.0% to 19,156 on Christmas Eve completing a double top pattern.

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 24th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for December 24th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for December 24th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

StockTwits Released on Monday @EquityClock

Technical action by S&P 500 stocks to 10:30: Bearish. No breakouts. 40 breakdowns.

Editor’s Note: After 10:30 AM EST, another 10 S&P 500 stocks broke intermediate support.

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Boeing $BA, a Dow Jones Industrial stock moved below $296.61 extending an intermediate downtrend.

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Crescent Point Energy $CPG.CA, a TSX 60 stock moved below $3.80 extending an intermediate downtrend.

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CGI Group $GIB, a TSX 60 stock moved below $57.46 U.S. extending an intermediate downtrend.

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TransCanada PipeLines $TRP.CA, a TSX 60 stock moved below $48.92 extending an intermediate downtrend.

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Restaurant Brands International $QSR.CA, a TSX 60 stock moved below $$68.50 extending an intermediate downtrend.

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Cascade $CAS.CA moved below $9.84 extending an intermediate downtrend.

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Utilities SPDRs $XLU lead U.S. sectors on the downside.

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MMM $MMM, a Dow Jones Industrial stock moved below $180.75 extending an intermediate downtrend.

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S&P Momentum Barometer

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The Barometer dropped another 1.20 to 5.00 on Monday. It remains deeply Intermediate Oversold, but has yet to show signs of bottoming.

 

TSX Momentum Barometer

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The Barometer dropped another 4.12 to 18.93 on Monday. It remains Intermediate Oversold, but has yet to show signs of bottoming.

 

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http://www.equityclock.com/about/seasonal-advantage-portfolio/

 

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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8 Responses to “Tech Talk for Wednesday December 26th 2018”

  1. rick Says:

    Ron/BC

    Thanks for the clip but in last few weeks when those computers/algorithms were selling stocks like crazy , it was more : “turn those machines off “!

    Maybe this is what is happening : margin calls at big investment companies = sell off everything

    Jeremy Irons in Margin call

    https://youtu.be/UOYi4NzxlhE

    https://youtu.be/ag14Ao_xO4c

  2. Ron/BC Says:

    Rick

    Good clips and that type of situation is not uncommon. And the average investor ends up holding these ‘belle of the ball’ stocks all the way down. EX: A cowboy road into town and asked where there was a card game and was told there was just one place but warned it was crooked. The cowboy said: “Yes,but like you said it’s the only game in town.” Same idea where investors think the stock market is the only game in town. Just not so with a variety of ways to invest with much better odds of success.

  3. Ron/BC Says:

    $GOLD has had a bounce back to the bottom of its broken uptrendline from early 2016. Odds favour a pullback from here as the bounce back has not been overly impressive. Price did cross $1238 and held and had a higher low and higher high and the technical indicators were fairly positive for the most part, but the bounce was not overly impressive. Note ABX battle to clear and hold above $13.50 for over 2 months now despite $GOLD’s uptrend. Also note the negative divergences on the $13.50-$14.00 rally highs as well. So with the bump up against the broken uptrendline and lack of conviction, a sideways to lower price is likely. Perhaps a broad stock market bounce back from oversold conditions will see a selloff in $GOLD and their stocks.

    https://stockcharts.com/h-sc/ui?s=%24GOLD&p=D&yr=4&mn=0&dy=0&id=p9442801482c&a=579408509

    https://stockcharts.com/h-sc/ui?s=ABX&p=D&yr=2&mn=0&dy=0&id=p9882951525c&a=612981342

  4. Ana Says:

    $SPX FUTURES

    Wow! Just checked the futures, up 128 points, I have never seen this before!

    Does anyone ever remember futures on S & P 500, going up this much in one day?

  5. bruce Says:

    ana
    i began in 1956………point wise never but % wise i think maybe in 2008……….

  6. Mary Says:

    Ana
    Santa came out of the chimney.Hamilton EW predicting DOW 16000. Wonder if that will materialize

  7. Muntazir Says:

    Merry Christmas & Happy New Year

  8. FishFat Says:

    Canadian Dollar ($CDW).
    There is nothing pretty about the Cdn Dollar these days. The MACD is bearish and the price is below a falling 34-period EMA. However, the current dip looks overextended. The currency is at the bottom on a three month declining price channel and testing support at 73.59. However, given the recent sharp decline, support from the price channel, and the positive seasonality for the Cdn Dollar between mid-December and early January, I expect a bounce about now – maybe back up to the area of moving average around 74.5 cents.

    Chart courtesy of StockCharts.com
    http://schrts.co/SGtB93

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