Tech Talk for Wednesday March 13th 2019

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Pre-opening Comments for Wednesday March 13th

U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for January Durable Goods Orders was a drop of 0.6% versus an increase of revised 1.3% in December. Actual was an increase of 0.4%. Excluding Transportation, consensus for January Durable Goods Orders was an increase of 0.2% versus a gain of 0.1% in December. Actual was an increase of 0.8%. Consensus for February Producer Prices was an increase of 0.2% versus 0.1% in January. Actual was an increase of 0.1%. Excluding food and energy, consensus for February Producer Prices was an increase of 0.2% versus a gain of 0.3% in January. Actual was an increase of 0.1%.

Carnival Cruise Lines added $1.04 to $56.30 after Goldman Sachs upgraded the stock to Buy from Neutral.

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CVS Health gained $0.50 to $55.15 after Bernstein initiated coverage with an Outperform rating.

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Aurora Cannabis (ACB $10.64) is expected to open higher after Nelson Peltz was granted an option to purchase 20 million shares.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/03/12/stock-market-outlook-for-march-13-2019/

Note seasonality charts on the Industrial sector and U.S. Consumer Prices.

Observation

7-10 Year Treasury Bond iShares moved above $104.89 to a 21 month high extending an intermediate uptrend.

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StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakouts: $LH $SBAC. Breakdown: $FFIV

Editor’s Note: After 10:00 AM EDT, one intermediate breakout: RIG. No breakdowns.

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New Flyer Industries $NFI.CA moved below intermediate support at $33.00.

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Franco -Nevada $FNV, a TSX 60 stock moved above $77.82 U.S. to a 15 month high extending an intermediate uptrend.

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Eldorado Gold $ELD.CA moved above $6.25 extending an intermediate uptrend

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Trader’s Corner.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for March 12th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for March 12th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 12th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

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

 

S&P 500 Momentum Barometer

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The S&P 500 Barometer slipped 0.20 to 81.80 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The TSX Barometer slipped 0.84 to 73.95 yesterday. It remains intermediate overbought.

 

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 Wednesday March 13th 2019”

  1. Larry/ON Says:

    $WTIC broke major resistance this morning to make a new high going back to Nov. I’ve been accumulating BP which also broke resistance this morning for a new high going back Oct.

  2. DougP Says:

    Ron: Thanks for your comments on Money Market funds yesterday. Coast Capital offered 4% on a 3-year GIC last year, into which I piled some money. However, I like to keep a cash reserve within the RESP, and this restricts choice considerably. One could open another RESP for this purpose, but, for the amount gained, it simply is not worth the hassle.

  3. Ron/BC Says:

    The U.S.$ is once again bumping up against strong price resistance at the 97.50 area. A pullback should see inverse markets rally. Price needs to clear and hold above this resistance level to continue its uptrend. This chart won’t update until today’s close but so far today is lower.

    https://stockcharts.com/h-sc/ui?s=%24USD&p=D&yr=2&mn=0&dy=0&id=p3630657859c&a=590222022

  4. Green/ON Says:

    Hi Ron,
    You posted yesterday -“I did hear of a Money Market Fund that pays 2.5% on U.S.$ but have not put U.S.$ in there yet and am still considering this. JP/BC advised me on that one. ”
    Can you please share name of the fund and fund ID number?

  5. Larry/ON Says:

    BMO Investorline Warning For Anyone Doing Norbert’s Gambit Jan and Feb/19- Everything settles T+2 but I caught BMO charging me interest at 22% on registered plans by offsetting Cdn and US share entries one business day later and charging me on the negative entry that was always offset by the positive entry. Refunded me about $800.

  6. Ron/BC Says:

    Green/On
    I was advised that the Money Market Fund # was CIB483. This can be bought from Questrade or any other financial center I suppose. I’ve been too busy with things to do this and I do love cash on hand and dont like to part with the stuff. I think Funds expect you to leave the money in the Fund and not remove it often. But I do need to do something with my U.S.$.

  7. KC Says:

    Hello Ron/Bc,

    Very interested in your thought/TA on this chart.

    http://schrts.co/QfQHGVPn

    Cheers,
    KC

  8. Ron/BC Says:

    KC
    price is back to significant resistance.

  9. Green/ON Says:

    Hello Ron/BC – Many thanks

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