Tech Talk for Thursday May 16th 2019

Daily Reports Add comments

Pre-opening comments for Thursday May 16th

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

Index futures moved slightly higher following release of U.S. economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was 220,000 versus 228,000 last week. Actual was 212,000. Consensus for April Housing Starts was 1.205 million units versus a revised 1.168 million units in March. Actual was 1.235 million units. Consensus for the May Philly Fed Index was an increase to 10.0 from 8.5 in April. Actual was 16.6..

Cisco gained $1.70 to $54.14 after reporting higher than consensus fiscal third quarter revenues and earnings. The company also raised guidance. MKM Partners raised its target price to $56 from $54. KeyBanc raised its target price to $60 from $58.

clip_image001[1]

Amazon (AMZN $1871.15) is expected to open higher on news that Berkshire Hathaway initiated a position in the stock valued at $900 million.

clip_image002[1]

Wal-Mart added $2.38 to $102.26 after reporting higher than consensus first quarter earnings

clip_image003[1]

Pfizer added $0.25 to $41.40 after Credit Suisse named the stock as a “Top Pick”

clip_image004[1]

 

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/05/15/stock-market-outlook-for-may-16-2019/

Note seasonality charts on Retail Trade and Industrial Production

 

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bearish. Intermediate breakout: $ARE. Breakdowns: $BWA $BDX $WAB $CRM $SEE $NRG.

clip_image001

Editor’s Note: After 10:00 AM EDT, no additional intermediate breakouts. Breakdowns: RTN and FDX

Corn ETF $CORN continues to surge on encouraging China/U.S. trade talks

clip_image002

Keyera $KEY.CA moved above $33.29 extending an intermediate uptrend.

clip_image003

CAE Inc. $CAE.CA moved above $31.71 to an all-time high extending an intermediate uptrend.

clip_image004

Restaurant Brands International $QSR $QSR.CA, a TSX 60 stock moved above $90.94 Cdn. and $67.43 U.S. to an all-time high following expansion plans news

clip_image005

US Industrial Production down 2.1% (NSA) in April, weaker than the 1.6% decline that is average for the month. $MACRO #Economy #Manufacturing

clip_image007

Alimentation Couche-Tard $ATD.B.CA, a TSX 60 stock moved above $81.95 to an all-time high extending an intemediate uptrend.

clip_image008

Treasury Bond iShares $TLT moved above $126.15 extending an intermediate uptrend.

clip_image009

TC Energy (formerly TransCanada PipeLines $TRP.CA, a TSX 60 stock moved above $64.46 extending an intermediate uptrend.

clip_image010

CCL Industries $CCL.B.CA, a TSX 60 stock moved above $59.86 extending an intermediate uptrend.

clip_image011

 

Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 15th 2019

clip_image013

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for May 15th 2019

clip_image015

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for May 15th 2019

clip_image017

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

clip_image018

The Barometer added 0.80 to 44.00 yesterday. It remains intermediate neutral and trending down.

 

TSX Momentum Barometer

clip_image019

The Barometer slipped 0.84 to 46.22 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...



9 Responses to “Tech Talk for Thursday May 16th 2019”

  1. dave/ab Says:

    Kam #3 yesterday

    You are correct this is corruption for now. Often that is how the cycle starts. They will figure it you and become one of the top economic nation. May take a while but it will happen. On a side note I wouldn’t say we or the usa doesn’t see some corruption in our markets.

  2. Ron/BC Says:

    Here is a chart of the TSX60 Index ETF:XIU.to. Price broke out above the $24.25 July 2018 high last March and after a rally to $25.20 pulled back to $24.36 with the RSI 8 below the 30 line and is now bouncing back. Would have been nice to test the breakout point to get long but it doesn’t seem to want to do that. I have been surprised at this ETF as it just keeps chugging along. Price has shown a lot of respect for its 50ema. The Long Term Modified MACD below with a 20ema is still on a buy signal but rolling dangerously close to a sell signal much like the RSI 21 below also. BUTTTTTTTTTTTT it is still on a buy signal with those ‘trend’ indicators and the RSI 8 and stochastics just signaled a buy signal for short term trading. I dumped a chunk of CD$ into my trading account so am anxious to shop around in the $TSX. Sure a lot of low cost ETFs to trade there. Some even have descent volume.

    https://stockcharts.com/h-sc/ui?s=XIU.TO&p=D&yr=2&mn=0&dy=0&id=p10659290348&a=579408564

  3. Kam Says:

    Dave/ab,

    There is always hope for India but since independence from Brits in 1947, corruption has gone up and up. Who will change this when all the politicians are in the same boat? They all talk shit to each other in public and have drinks together at night and what look like arch enemies, their children and grandchildren are married to each others children and grandchildren and it is not love marriages, they are arranged marriages! Very few go to jail. But people have to hope for sure. Humans live with that hope.

  4. Kam Says:

    Dumb money Dairy:

    No Micro trades today, slept in till its too late. Had orders at 2835 and 2815 to fill overnight, it almost got to 2835 but no Cigar.

    EW

    Main Analyst thinks that we might be finishing this 2nd wave between 2905-2920 before the wheels fell off. If we stay above 2870 and below todays high into tomorrow then we might not even make it past 2905.
    Easy money is already been made. Like Stephen Whitehead says,Protect your portfolio. Later

  5. Kam Says:

    Miners & Gold.

    My buddy MIKE SWANSON is at it again. I saw his Gold essay yesterday in mail and have to sell both KL and AG. He is the ultimate contrarian indicator.
    If we have a paid subscriber here of his thing, can you please request him to stay away from Gold. TIA

    https://wallstreetwindow.com/2019/05/gold-now-comes-alive-to-provide-a-portfolio-boost-mike-swanson-05-14-2019/

  6. rick Says:

    http://schrts.co/YkHuYYJb

    Is the correction over ?

    Look at ADX black line . When is start to decline from high level looks like correction is over . At least in the 4 previous situation in last year .
    Look at PPO . When blue line cross under red line from high level looks like correction is over .
    Don’t forget the words :
    1.High level and
    2.NO indicator is perfect .

  7. rick Says:

    http://schrts.co/zAkjkfWD

    Or we should wait for PPO for SPX to cross over ?
    And then EMA 10 to cross over EMA 20 ?

  8. Ron/BC Says:

    Rick

    Here is your chart back and I’ve overlaid the $SPX to compare to the indicators. And here is an 18 month chart of the $VIX with the $SPX overlaid plus the Modified MACD 50,200,20 below. Looking at the lower indicator it is suggesting the $VIX is about to rally again. But going back further there was a lot of sideways whip saw with the Modified MACD and it can turn at any time like most indicators. But it is not encouraging presently. The $VIX itself is erratic at the best of times which doesn’t make the indicators moving with it that reliable. I rarely look at the $VIX.

    https://stockcharts.com/h-sc/ui?s=%24VIX&p=D&yr=1&mn=0&dy=0&id=p28545802204&a=665649756

    https://stockcharts.com/h-sc/ui?s=%24VIX&p=D&yr=1&mn=6&dy=0&id=p26185530242&a=585776983

  9. rick Says:

    Ron/BC ,
    I agree , VIX has a very limited use.

    1. only for buying SPX ( does not work well for selling SPX )
    only when price is crossing under the signal line
    Actually on your chart , the green line give 2 excellent medium term buying signals.
    Extend your chart for 10 years and we will find other good buying signals .July 2010 , October 2011, October 2014 , january 2015 , October 2015 , February 2016 ,
    Vix does not give good signals to sell SPX, only to buy SPX .

    http://schrts.co/vpbCjbJV

    But for short term movements ,5-10 days, I will use short periods like 10,20,5
    http://schrts.co/NreCASYT

Entries RSS Comments RSS Log in