Tech Talk for Thursday June 27th 2019

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StockTwits released yesterday @EquityClock

US Durable Goods Orders down 0.2% (NSA) in May, negatively diverging from the 2.9% average increase for this time of year. $MACRO #Economy #Manufacturing

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BlackBerry $BB.CA $BB, a TSX 60 stock moved below $10.37 and $7.70 U.S. on lower than consensus first quarter revenues extending an intermediate downtrend

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Technical action by S&P 500 stocks to 10:00: Bearish. No intermediate breakouts. Breakdowns: $MKC $SJM $PAYX $ARE $ROL $ALGN, $BXP

Editor’s Note: After 10:00 AM EDT, intermediate breakouts included DO and FMC. Breakdowns included SPG, FRT and BMY

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Trader’s Corner

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for June 26th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for June 26th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 26th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

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The Barometer slipped another 0.40 to 62.20 yesterday. It remains intermediate overbought and rolling over.

 

TSX Momentum Barometer

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The Barometer dropped another 2.54 to 56.78 yesterday. It remains intermediate neutral and rolling over.

 

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




7 Responses to “Tech Talk for Thursday June 27th 2019”

  1. Lawrence Bukta Says:

    David Burrows is on BNN Market Call today – Excellent market analysis.

  2. Ron/BC Says:

    Here is a chart of ECA that has been posted on this site a few times. Price formed a bearish Rising Wedge from January to May. While rising prices tend to be bullish a Rising Wedge is not as was discussed at that time. Price typically broke down from the Wedge and has in classic form retraced the entire Wedge. Price is now testing the bottom of the Wedge support at roughly $5.00 and is oversold for those who were interested in a long position. No guarantee price won’t break support but odds favour a bounce.

    https://stockcharts.com/h-sc/ui?s=ECA&p=D&yr=2&mn=6&dy=0&id=p67803883069&a=673066252

  3. Ron/BC Says:

    The $TNX 10 year Treasury Yield chart has double bottomed at 20 support and is very oversold. The chart suggests a rebound in interest rates unless it breaks decisively below 20.

    https://stockcharts.com/h-sc/ui?s=%24TNX&p=D&yr=3&mn=0&dy=0&id=p21445896626&a=673066379

  4. Ana Says:

    $NATGAS Futures

    So, my take on this is up to build an inverse head and shoulders.

    The inverse head and shoulder have lines drawn to indicate where the movement will be for the break out.

    https://invst.ly/b4h5o

  5. bruce Says:

    ana
    One would have thought the massive ongoing heat wave in Europe would have increased the demand for natural gas for air conditioners…….doesnt seem to have affected north american prices………meanwhile Don says we ve entered the negative season for nat gas……

  6. Ana Says:

    #5. bruce,

    Just reacting to the weekly chart, where $NATGAS broke the lower bollinger band.

    It usually goes to the top of the band after that.

    http://schrts.co/bNmdUpmP

  7. Mary Says:

    Ana:
    Is it better to use weekly charts as per #6 rather than daily. I am not sure why I always use daily.

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