Tech Talk for Thursday July 4th 2019

Daily Reports Add comments

 

Observations

Yesterday, the Dow Jones Industrial Average moved above its previous inter-day high at 26,951.81 to close at an all-time high.

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The NASDAQ Composite Index closed just below its inter-day all-time high at 8,176.08.

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StockTwits released yesterday @EquityClock

Pharmaceutical ETF $PPH moved above $59.16 setting an intermediate uptrend.

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Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout: $ABC. No breakdowns.

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Editor’s Note: After 10:00 AM EDT, intermediate breakouts included ANET, AES UAL, MKC, GIS, EXPE, RE, COF, SYK, TMK, CI, WAT, EIX and NRG. No breakdowns.

Financial SPDRs $XLF moved above $28.00 extending an intermediate uptrend.

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U.S. Broker ETF $IAI moved above $64.35 extending an intermediate uptrend.

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TC Energy $TRP.CA, a TSX 60 stock moved above $66.16 to an all-time high extending an intermediate uptrend

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Trader’s Corner

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for July 3rd 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for July 3rd 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for July 3rd 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 added 6.40 to 82.80 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer added 7.23 to 61.28 yesterday. It returned to intermediate overbought from intermediate neutral on a move above 60.00.

 

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

Happy Fourth of July to our subscribers residing in the U.S. of A.!

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One Response to “Tech Talk for Thursday July 4th 2019”

  1. FishFat Says:

    Transcontinental (TCL/a.to) has been declining for nine months. On the weekly chart, the ADX and DI(-) are both declining which suggest the downtrend is becoming weaker. Price is currently sitting at important support. The RSI is just recovering from oversold and there is positive divergence of the MACD and MACD Histogram. Together the indicators suggest a potential entry point, but a risky countertrend trade.
    http://schrts.co/bIxwwzvZ

    On the daily chart, price has been in a trading range (14.00-15.45) for two months. The 34d-EMA has flattened – suggesting a base may be forming. There is also positive divergence of the MACD and the long-M.MACD has recently made a bullish cross. A good entry point would be at the bottom of the trading range around 14.00
    http://schrts.co/aDyjrtwb

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