Tech Talk for Tuesday January 12th 2021

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Morning Technical Notes for Tuesday January 12th

AbbVie (ABBV), an S&P 100 stock moved above $67.00 to an all-time high extending a long term uptrend.

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Xcel Energy (XEL), a NASDAQ 100 stock moved below $63.91 extending an intermediate downtrend.

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General Motors (GM), an S&P 100 stock moved above $46.71 extending an intermediate uptrend.

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O’Reilly Automotive (ORLY), a NASDAQ 100 stock moved above $487.95 to an all-time high extending an intermediate uptrend.

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Regeneron (REGN), a NASDAQ 100 stock moved above $506.99 completing a double bottom pattern.

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Salesforce.com (CRM), an S&P 100 stock moved below $215.63 extending an intermediate downtrend.

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Thomson Reuters (TRI), a TSX 60 stock moved below $101.32 completing a modified Head & Shoulders pattern.

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Pre-opening Comments for Tuesday January 12th

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

PNC Financial added $0.62 to $160.00 after Citigroup updated the stock from Neutral to Buy.

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Bank of America gained $0.32 to $33.43 after Citigroup updated the stock from Neutral to Buy.

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Boston Scientific dropped $1.34 to $35.10 after lower its fourth quarter sales guidance.

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Aflac improved $1.40 to $45.91 after Morgan Stanley upgraded the stock to Overweight.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/01/11/stock-market-outlook-for-january-12-2021/

Note seasonality chart on the U.S. Technology sector.

Technical Notes for Monday January 11th

Natural Gas ETN (UNG) moved above $10.05 completing a double bottom pattern. Weather forecasters are warning about a “Polar Vortex” heading to western Canada and the northwestern U.S. states with colder than average temperatures and higher than average precipitation (i.e. snow) between now and March.

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Biotech ETF (BBH) moved above $176.88 and $177.49 to an all-time high extending an intermediate uptrend. Responding to news from the Morgan Stanley’s Healthcare conference this week!

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Biogen (BIIB), a NASDAQ 100 stock moved above $254.00 and $254.41 completing a base building pattern.

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Lockheed Martin (LMT), an S&P 100 stock moved below $334.78 setting an intermediate downtrend.

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Advanced Micro Devices (AMD), a NASDAQ 100 stock moved above $97.98 to an all-time high extending an intermediate uptrend.

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Xilinx (XLNX), a NASDAQ 100 stock moved above $154.12 to an all-time high extending an intermediate uptrend.

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Cisco (CSCO), a NASDAQ 100 stock moved above $45.20 extending an intermediate uptrend.

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AbbVie (ABBV), an S&P 100 stock moved above $109.15 extending an intermediate uptrend.

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American Tower (AMT), a NASDAQ 100 stock moved below $214.21 extending an intermediate downtrend.

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Fortis (FTS), a TSX 60 stock moved below $51.10, $50.90 and $50.82 extending an intermediate downtrend.

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 11th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for January 11th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for January 11th 2021

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Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Thank you to David Chapman and www.enrichedinvesting.com for a link to their weekly comment. Headline for the January 11th comment reads, “Democracy assault, higher markets, bitcoin mania, rates soar, gold down, oil rises, worse possible”. Following is the link:

Library | Enriched Investing Incorporated (frontlinesafeguard.com)

P.S. Also includes a link to previous weekly reports

 

S&P 500 Momentum Barometer

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The Barometer dropped 4.21 to 79.76 yesterday. It changed from extremely intermediate overbought to intermediate overbought on a drop below 80.00.

 

TSX Momentum Barometer

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The Barometer dropped 4.90 to 71.29 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




10 Responses to “Tech Talk for Tuesday January 12th 2021”

  1. dave/ab Says:

    NTR

    There are some hotels here in Calgary that offer rooms for covid family members.

  2. dave/ab Says:

    Hi Ron/BC & Bernie

    NTR

    Have you been hitting balls yet? Just to get out of the house been going to these heated outdoor driving range -Cabin fever is getting me

  3. Ron/BC Says:

    Dave/AB

    Yes I’ve been out golfing now and again. My lady friend is much fussier than I am so don’t go out on rainy or mucky days. And I’m often busy with other things also. But the courses here are packed with golfers rain or shine it seems. I really like my 3 wood for teeing off with rather than the expensive adjustable driver I bought last year. But I’m not fond of golfing in the rain unfortunately. Must be getting old and too particular. But at a nearby golf course there is an excellent driving range as well that is covered so easy to practice just about any club with flags positioned at different distances. So one can practice with just about any club. And there is no charge for it other than the bucket of balls to rent. So no good excuse for not hitting balls…………..Bernie and I have also gone there. He’s a good golfer.

  4. Ron/BC Says:

    Mary NTR

    I asked my younger daughter that besides her finance job also does vacation bookings including cruses to Alaska and here is her response:
    “The cruise lines are marketing their upcoming sailings so it is possible to book. It’s also possible that COVID rules may push back the start of cruise operations and sailings may be cancelled. Alaska cruise season runs from late April to September so it would be safer to book something closer to the end of that time frame to lower the risk of cancellation.”

  5. Bernie Says:

    Dave/AB,

    Ron/BC is being kind! Not sure if its the new clubs, my aging body, having not played much in quite a while or all of the above lol. Hopefully it gets better.

  6. Mary Says:

    Ron/BC

    Re #4…good to know. I will monitor the Covid situation and see if I am comfortable. Couple years ago we booked a winter vacation and had to cancel. Didn’t recover all the money specially from tour companies.

  7. dave/ab Says:

    Hi Bernie & Ron/BC

    NTR

    I’m itching here. Probably go to one to the heated outdoor driving range here this coming weekend. My wife got me this for Christmas. To much snow here to even try it outside.

    https://www.youtube.com/watch?v=sUb2Wfs-TfY&ab_channel=mitch9243

  8. Ron/BC Says:

    Dave/AB NTR

    Very nice indeed. I had to wonder if it would only go so far and stop or does it just keep going straight. But if it stays withing your range it would allow you to focus on your next shot. Always good to calculate stress free. Hand pushing a cart does take focus away from your next shot. The heated driving range sounds like a good idea.

  9. Bernie Says:

    dave/ab
    NTR

    That is pretty niftu Dave! Couple of questions: Does it fold up to fit in most vehicles? Can its radar easily detect water and sand hazards and severe side hill slopes? Prairie winters and outdoor golf seldom go well together. At least there are heated driving ranges and golf simulators in most larger centers which allow you to sharpen your game with your own clubs and help to alleviate your cabin fever. I use to frequent them in the offseasons when I lived in Edmonton in the 80’s. Good to hear from you Dave!

  10. dave/AB Says:

    Hello Bernie & Ron/BC

    It is set for 50 yards ahead or behind you then it stops. One of the guys I golf with has it and he says he is much less tired after each round. He says it feels more like he is going for a nice leisurely walk.

    The Rovic and the Ewheels are separate. The Ewheels essentially is a battery pack, back wheels and a small onboard computer that attaches to custom brackets for your cart. The Ewheels will fold down to 30 inches. It took me about an hour to assemble. You do get a hand remote to help steer it away from obstacles. The V2 model has a gyroscope to help drive it in a straight line even over uneven surfaces. Instead of just clubs and carts I now have this 3rd item.

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