Tech Talk for Thursday February 18th 2021

Daily Reports Add comments

Morning Technical Notes for Thursday February 18th

Wal-Mart (WMT), a Dow Jones Industrial Average stock moved below $139.19 extending an intermediate downtrend following release of fourth quarter results.

clip_image001[3]

Shanghai Composite Index advanced 20.27 to 3,675.36 following resumption of trade after the one week celebration of Chinese New Year.

clip_image002[3]

The Shanghai Composite Index has a history of moving higher on a real and relative basis until mid-April following the Chinese New Year holiday.

clip_image004[1]

Canadian Tire (CTC.A), a TSX 60 stock moved above $180.30 to an all-time high extending an intermediate uptrend after releasing higher than consensus fourth quarter results.

clip_image005[1]

Technical Notes for Wednesday February 17th

Tesla (TSLA) moved below $780.10 completing a double top pattern.

clip_image001

Take Two Interactive (TTWO), a NASDAQ 100 stock moved below $191.81 completing a double top pattern.

clip_image002

Gold ETN (GLD) moved below $166.03 extending an intermediate downtrend.

clip_image003

Gold Miners ETF (GDX) moved below $33.08 extending an intermediate downtrend.

clip_image004

CGI Group (GIB.A), a TSX 60 stock moved below Cdn$98.40 completing a double top pattern.

clip_image005

Wells Fargo (WFC), an S&P 100 stock moved above $34.99 extending an intermediate uptrend.

clip_image006

Peloton (PTON), a NASDAQ 100 stock moved below $139.02 completing a Head & Shoulders pattern.

clip_image007

U.S. Telecom iShares (IYZ) moved above $32.25 to a four year high extending an intermediate uptrend.

clip_image008

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for February 17th 2021

clip_image010

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for February 17th 2021

clip_image012

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 17th 2021

clip_image014

Green: Increase from previous day

Red: Decrease from previous day

 

Market Buzz

Greg Schnell discusses “IPO Mania –Mischief Managed”. Following is a link:

https://stockcharts.com/tv/episodes/market-buzz.html

 

After the close yesterday

Three fertilizer companies released better than consensus fourth quarter revenues and earnings. All responded accordingly: CF Industries added $0.94 to $46.00, Mosaic gained $0.82 to $31.25 and Nutrien jumped $2.15 to US$58.00. Agricultural product ETFs (MOO in the U.S. and COW.TO on the TSX) are expected to respond to the upside.

clip_image001[1]

clip_image002[1]

clip_image003[1]

 

S&P 500 Momentum Barometer

clip_image015

The intermediate Barometer slipped another 0.80 to 68.94 yesterday. It remains overbought and showing early signs of trending down.

clip_image016

The long term Barometer added 1.40 to 89.78 yesterday. It remains extremely overbought.

 

TSX Momentum Barometer

clip_image017

The intermediate Barometer slipped another 3.08 to 63.11 yesterday. It remains overbought and showing more signs of rolling over.

clip_image018

The long term Barometer slipped 0.11 to 76.21 yesterday. It remains 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




4 Responses to “Tech Talk for Thursday February 18th 2021”

  1. bruce Says:

    the AAII survey this week has the bulls slightly more positive 47.1% up from 45.5 last week….historic average is 38%
    the bears dropped to 25.4% from 26.3…historic average is 30.5%……

  2. tony Says:

    Hi bruce,

    if 47% and 25% are bears where is the rest of the crowd stuck in the deep freeze? roflt

  3. bruce Says:

    tony
    they’re in the neutral zone…….like me…..

  4. Bernie Says:

    tony,

    Re: #2
    https://www.aaii.com/sentimentsurvey

    I feel we’re nearing a huge drop off, deeper than the corrections which often occur in March (Ron/BC has pointed this out a few times).

Entries RSS Comments RSS Log in