Tech Talk for Tuesday March 19th 2019

Daily Reports Add comments

Pre-opening Comments for Tuesday March 19th

U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.

Nike (NKE $87.82) is expected to open higher after JP Morgan raised its target price to $90 from $85.

clip_image001[1]

Becton Dickenson (BDX $244.67) is expected to open lower after Raymond James lowered its target price to $280 from $290.

clip_image002[1]

Styker (SYK $193.58) is expected to open higher after JP Morgan raised its target price to $215 from $200.

clip_image003[1]

 

EquityClock’s Daily Market Comment

Following is a link:
http://www.equityclock.com/2019/03/18/stock-market-outlook-for-march-19-2019/

 

Observations

The CRB Index and its related ETN: GSG broke to a four month high extending a reverse Head & Shoulders pattern. ‘Tis the season for strength to the end of April!

clip_image001

The Energy sector led the advance in North American equity markets yesterday. Oil service stocks and related ETFs were notably stronger.

clip_image002

Equal Weight Canadian Bank ETF:ZEB moved above $29.26 extending an intermediate uptrend.

clip_image003

 

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bullish. 17 Breakouts including $AZO $XOM $ROP $AMZN . Breakdown: $EMN

clip_image004

Editor’s Note: After 10:00 AM EDT, breakouts included FIS, CPB, COTY, EFX, HON, XRX, JPM, ALL and MTB. Breakdowns included FB and BBBY.

Most of the S&P 500 breakouts were Financial: $AIG $AXP $BAC $BK $C $GS $IVZ $MCO

clip_image005

Financial SPDRs lead the advance by S&P 500 Index this morning. $XLF moved above $26.80 extending an intermediate uptrend.

clip_image006

American Express $AXP, a Dow Jones Industrial stock moved above $114.88 to an all-time high extending an intermediate uptrend.

clip_image007

Goldman Sachs $GS, a Dow Jones Industrial stock moved above $202.47 extending an intermediate uptrend.

clip_image008

Amazon $AMZN, a Dow Jones Industrial stock moved above $1736.41 extending an intermediate uptrend.

clip_image009

Discretionary SPDRs $XLY moved above $111.53 extending an intermediate uptrend.

clip_image010

Palladium ETN $PALL moved above $149.01 to an all-time high extending an intermediate uptrend.

clip_image011

JP Morgan $JPM, a Dow Jones Industrial stock moved above $107.27 extending an intermediate uptrend.

clip_image012

Shaw Communications $SJR, a TSX 60 stock moved above $20.80 U.S. extending an intermediate uptrend.

clip_image013

Facebook $FB, one of the FAANG stocks moved below $159.59 completing a double top pattern.

clip_image014

TMX Group $X.CA moved above $84.37 extending an intermediate uptrend.

clip_image015

Manulife Financial $MFC.CA, a TSX 60 stock moved above $23.00 after winning court case extending an intermediate uptrend.

clip_image016

Energy SPDRs $XLE moved above $66.41 extending an intermediate uptrend.

clip_image017

 

Trader’s Corner.

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for March 18th 2019

clip_image019

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for March 18th 2019

clip_image021

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for March 18th 2019

clip_image023

Green: Increase from previous day

Red: Decrease from previous day

 

Technical Scoop

Thank you to David Chapman and www.EnrichedInvesting.com Here is the link:

http://enrichedinvesting.com/wp-content/uploads/2019/03/Black-swan-sparks-no-recession-yet-OPEC-vs-NOPEC-dovish-fed-week-hearts-out-to-New-Zealand-victims.pdf

 

S&P 500 Momentum Barometer

image

The Barometer added 0.20 to 80.40 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

image

The Barometer gained 3.36 to 71.43 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

Sponsored By...



5 Responses to “Tech Talk for Tuesday March 19th 2019”

  1. Ron/BC Says:

    Here is a chart of ECA once again. The chart ‘pattern’ has been an odd one and tough to read with slightly higher highs plus higher lows. The pattern now looks like a Rising Wedge which is a very bearish chart pattern. Perhaps it will evolve into something more readable but for now I would not be buying it here. Plus the plunge from October through December saw the stock lose most of its value and then consolidate with this Rising Wedge pattern.

    The $SPX broke out above 2815 major resistance with a breakaway gap today. Next resistance is the January 2018 high of 2872. Note the extremely high volume on this recent breakout over 2815. Typical short covering on the breakout with smart money chasing the shorts.

    https://stockcharts.com/h-sc/ui?s=ECA&p=D&yr=2&mn=6&dy=0&id=p67803883069&a=579408588

    https://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p9412314680c&a=582707024

  2. Ron/BC Says:

    The TSX 60 ETF:XIU.to broke out above the July/18 high of 24.33. The lower Histogram is showing a lower high which means price is losing momentum. Watch for the Long Term Modified MACD to roll over and cross down. Meanwhile price is king and a breakout that holds is bullish. Note the sell signals with the M.MACD (see vertical dotted red lines) that have been very timely for a trend indicator. (with this ETF.)

    https://stockcharts.com/h-sc/ui?s=XIU.TO&p=D&yr=3&mn=5&dy=0&id=p63289240844&a=579408564

  3. Rol Lew Says:

    xiu-t .revealing template, Ron, & familiar story, btd

  4. Rol Lew Says:

    ntr………….

    the more things change, the more they remain the same…..

    https://www.youtube.com/watch?v=Ld6fAO4idaI&list=RDZgXNVA9ngx8&index=3

  5. bruce Says:

    sherri or gary
    Armstrong has a new private blog if one of you could please share it with us……would be appreciated….

Entries RSS Comments RSS Log in