Tech Talk for Tuesday January 26th 2021

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Morning Technical Notes for Tuesday January 26th

Fox (FOXA), a NASDAQ 100 stock moved above $32.18 and $32.51 resuming an intermediate uptrend

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Microsoft (MSFT), a Dow Jones Industrial Average stock moved above $232.25 to an all-time high extending an intermediate uptrend.

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Dollar Tree (DLTR), a NASDAQ 100 stock moved below $105.31 completing a double top pattern.

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Yamana Gold (YRI), a TSX 60 stock moved below $6.38 extending an intermediate downtrend.

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Pre-opening Comments for Tuesday January 26th

U.S. equity index futures were slightly higher this morning. S&P 500 futures were up 2 points in pre-opening trade.

General Electric added $0.80 to $11.79 after reporting higher than consensus fourth quarter revenues.

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Verizon slipped $0.42 to $58.00 despite reporting higher than consensus fourth quarter revenues. The company also offered positive guidance.

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American Express dropped $3.15 to $118.00 despite reporting higher than consensus fourth quarter revenues.

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Johnson & Johnson gained $2.85 to $168.83 after reporting higher than consensus fourth quarter earnings.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/01/25/stock-market-outlook-for-january-26-2021/

Technical Notes for Monday January 25th

JD.com (JD), a NASDAQ 100 stock moved above $96.20 to an all-time high extending an intermediate uptrend.

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Nike (NKE), a Dow Jones Industrial Average stock moved below $138.32 completing a double top pattern.

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Incyte (INCY), a NASDAQ 100 stock moved above $98.47 extending an intermediate uptrend.

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CSX (CSX), a NASDAQ 100 stock moved below support at $87.39.

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Electronic Arts (EA), a NASDAQ 100 stock moved $147.16 extending an intermediate uptrend.

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Abbott Labs (ABT), an S&P 100 stock moved above $114.68 to an all-time high extending an intermediate uptrend.

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Solar ETF (TAN) moved above $123.66 to an all-time high extending an intermediate uptrend.

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Metro (MRU), a TSX 60 stock moved below $56.75 extending an intermediate downtrend.

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Silver stocks have been moving higher is response to recent strength in silver prices. Majestic Silver (AG) moved above US$14.56 and US$14.57 and Cdn$18.49 to a five year high extending an intermediate uptrend.

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Cognizant (CTSH), a NASDAQ 100 stock moved below $78.56 completing a double top pattern.

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Copart (CPRT), a NASDAQ 100 stock moved below $111.86 completing a double top pattern.

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Bookings (BKNG), a NASDAQ 100 stock moved below $2024.02 and 1953.15 setting an intermediate downtrend.

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American Tower (AMT), an S&P 100 stock moved above $226.21 completing a reverse Head & Shoulders pattern.

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Lumber prices moved above $806.80 and $820.60 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 January 25th 2021

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 25th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for January 25th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometers

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The intermediate Barometer slipped 0.20 yesterday to 71.14. It remains intermediate overbought

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The long term Barometer added 1.20 to 91.38 yesterday. It remains extremely long term overbought.

TSX Momentum Barometers

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The intermediate Barometer added 1.63 to 66.53 yesterday. It remains intermediate overbought.

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The long term Barometer added 1.57 to 78.64 yesterday. It remains long term 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




3 Responses to “Tech Talk for Tuesday January 26th 2021”

  1. Larry/ON Says:

    TechTalk provides a lumber chart above with new all-time high. It is obviously related to a booming US housing market. The two lumber names I use are CFP and WFT. CFP has been the better performer over the last six months. US home builders DHI and PHM made new all-time highs yesterday after an extended sideways period.

  2. Larry/ON Says:

    DHI – Correction. It was seven cents shy of the all-time high but is set to open higher.

  3. dutchcanuck Says:

    Microsoft reported better than expected results.
    Stock is ripping after hours.

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