Tech Talk for Tuesday April 6th 2021

Daily Reports Add comments

Morning Technical Notes for Tuesday April 6th

Wheaton Precious Metals (WPM), a TSX 60 stock moved above $US40.37 completing a reverse Head & Shoulders pattern.

clip_image001[1]

Kinross Gold (KGC), a TSX 60 stock moved above $US7.14 completing a double bottom pattern.

clip_image002[1]

Medtronic (MDT), an S&P 100 stock moved above $119.92 to an all-time high extending an intermediate uptrend.

clip_image003[1]

Micron (MU), a NASDAQ 100 stock moved above $95.75 to an all-time high extending an intermediate uptrend.

clip_image004[1]

Pre-opening Comments for Tuesday April 6th

U.S. equity indices moved lower this morning. S&P 500 futures were down 4 points in pre-opening trade.

Illumina advanced $38.26 to $422.80 after reporting higher than consensus first quarter sales.

clip_image001[5]

Aphria added $0.04 to Cdn$22.79 after Stifel Nicolaus raised its target price from Cdn$15 to Cdn$22.

clip_image002[5]

Blackrock advanced $17.19 to $784.02 after Credit Suisse selected the stock as a “Top Pick”

clip_image003[5]

 

EquityClock’s Daily Comment

Following is a link. Note seasonality chart on U.S. Non-farm Payrolls

http://www.equityclock.com/2021/04/05/stock-market-outlook-april-6-2021/

 

Technical Notes for Monday April 5th

U.S. Telecommunications iShares (IYZ) moved above $32.77 to an all-time high extending an intermediate uptrend.

clip_image001

Consumer Discretionary SPDRs (XLY) moved above $173.18 to an all-time high extending an intermediate uptrend.

clip_image002

EAFE iShares (EFA) moved above $77.17 to an all-time high extending an intermediate uptrend.

clip_image003

Frontier iShares (FM) moved above $29.94 extending an intermediate uptrend

clip_image004

South Africa iShares (EZA) moved above $50.73 extending an intermediate uptrend.

clip_image005

Chile iShares (ECH) moved above $34.68 extending an intermediate uptrend

clip_image006

France iShares (EWQ) moved above $35.68 to an all-time high extending an intermediate uptrend.

clip_image007

United Kingdom iShares (EWU) moved above $31.94 extending an intermediate uptrend.

clip_image008

Blackrock (BLK), an S&P 100 stock moved above $783.36 to an all-time high extending an intermediate uptrend.

clip_image009

McDonalds (MCD), a Dow Jones Industrial Average stock moved above $229.13 to an all-time high extending an intermediate uptrend.

clip_image010

Costco (COST), an S&P 100 stock moved above intermediate resistance at $361.67.

clip_image011

Oracle (ORCL), an S&P 100 stock moved above $73.62 to an all-time high extending an intermediate uptrend.

clip_image012

FAANG stocks led the advance by U.S. equity indices yesterday. Alphabet moved to an all-time high extending an intermediate uptrend. GOOG moved above $2,152.68 and GOOGL moved above $2145.14.

clip_image013

clip_image014

Facebook (FB), an S&P 100 stock moved above $304.67 to an all-time high extending an intermediate uptrend.

clip_image015

Microsoft (MSFT), a Dow Jones Industrial Average stock moved above $245.56 to an all-time high extending an intermediate uptrend.

clip_image016

Semi-conductor iShares (SOXX) moved above $443.13 to an all-time high extending an intermediate uptrend.

clip_image017

NXP Semiconductor (NXPI), a NASDAQ 100 stock moved above $76.34 to an all-time high extending an intermediate uptrend.

clip_image018

Gold equity iShares (XGD) moved above Cdn$18.67 setting an intermediate uptrend.

clip_image019

Kinross Gold (K), a TSX 60 stock moved above $8/86 setting an intermediate uptrend.

clip_image020

Kirkland Land Gold (KL), a TSX 60 stock moved above 444.48 completing a double bottom pattern.

clip_image021

VALE, world’s largest base metal miner moved above $15.38 extending an intermediate uptrend.

clip_image022

Canadian National Railway (CNR), a TSX 60 stock moved above $148.27 to an all-time high extending an intermediate uptrend.

clip_image023

Canadian Tire (CTC.A), a TSX 60 stock moved above $183.90 to an all-time high extending an intermediate uptrend.

clip_image024

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 5th 2021

clip_image026

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 5th 2021

clip_image028

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 5th 2021

clip_image030

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index

 

S&P 500 Momentum Barometer

clip_image031

The intermediate Barometer added 3.21 to 89.18 yesterday. It remains Extremely Overbought.

clip_image032

The long term Barometer added 1.20 to 95.59 yesterday. It remains Extremely Overbought.

 

TSX Momentum Barometer

clip_image033

The intermediate Barometer added 2.39 to 78.47 yesterday. It remain Overbought.

clip_image034

The long term Barometer gained 0.48 to 80.38 yesterday. It changed from Overbought to Extremely Overbought on a move above 80.00.

 

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




3 Responses to “Tech Talk for Tuesday April 6th 2021”

  1. Ron/BC Says:

    The equal weight Canadian Bank stocks ETF:ZEB.to has a nice looking chart and is still positive. Only big negative is the negative divergence on the RSI 8 and other short term oscillators plus price has topped out for now and been going sideways for the last couple of weeks. And price is a very long ways from its 200ema. And the MACD rolled over and is negative. AND,lol. (sometimes I wish there weren’t any indicators). It would make life so much easier………….

    https://stockcharts.com/h-sc/ui?s=ZEB.TO&p=D&yr=1&mn=6&dy=0&id=p82924785507&a=678874213

  2. xh Says:

    Hi Ron/BC,

    Thanks for the chart.

    Just notice the gold stocks are quietly moving up such as FNV.to.

    Also, it turns out March is not good for those high value stocks, which have pulled back 20% — 40%. ICLN (ISHARES GL CLEAN ENGY ETF) is one of them. The valuation may still be high, do you see it is good to enter a position here since that’s where the money is going to for a while?

    Thanks as always!

  3. Ron/BC Says:

    XH

    ICLN took off from a flat base a year ago and done well. Price has now pulled back to a 50% Fibbonacci retracement of that rally. $21.58 is that level and price support. As long as that price holds the stock should do well. A close below this level would suggest more downside.

    https://stockcharts.com/h-sc/ui?s=ICLN&p=D&yr=2&mn=0&dy=0&id=p48797632839&a=934315003

    https://stockcharts.com/freecharts/seasonality.php?symbol=ICLN

Entries RSS Comments RSS Log in