Tech Talk for Thursday April 8th 2021

Daily Reports Add comments

Morning Technical Notes for Thursday April 8th

Gold ETN (GLD) moved above $164.15 completing a double bottom pattern.

clip_image001[1]

Yamana Gold (YRI), a TSX 60 stock moved above $5.85 completing a double bottom pattern.

clip_image002[1]

Mexico iShares (EWW) moved above $45.47 extending an intermediate uptrend.

clip_image003[1]

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

clip_image004[1]

Technology SPDRs (XLK) moved above $138.95 to an all-time high extending an intermediate uptrend.

clip_image005[1]

Shopify (SHOP), a TSX 60 stock moved above intermediate resistance at US$1,190.00 and Cdn$1.490.00

clip_image006[1]

Monster Beverage (MNST), a NASDAQ 100 stock moved above $95.11 to an all-time high extending an intermediate uptrend.

clip_image007[1]

Costco (COST), an S&P 100 stock added $5.87 to $387.31 after announcing higher than consensus comp sales in March.

clip_image008[1]

Exelon (EXC), an S&P 100 stock moved above $45.17 extending an intermediate uptrend.

clip_image009

 

Technical Notes for Wednesday April 7th

Forest product stocks and related ETFs are moving higher. Global Timber iShares (WOOD) moved above $88.48 to an all-time high extending an intermediate uptrend.

clip_image001

Interfor (IFP.TO) moved above Cdn$30.81 to an all-time high extending an intermediate uptrend.

clip_image002

Canfor (CFP.TO) moved above Cdn$29.00 extending an intermediate uptrend.

clip_image003

West Fraser Timber (WFG) moved above Cdn$99.64 to an all-time high extending an intermediate uptrend.

clip_image004

Canadian REIT iShares (XRE) moved above $17.70 extending an intermediate uptrend.

clip_image005

Brookfield Infrastructure (BIP/UN), a TSX 60 stock moved above $69.27 extending an intermediate uptrend.

clip_image006

Power Corp (POW), a TSX 60 stock moved above $33.63 to an all-time high extending an intermediate uptrend.

clip_image007

Xilinx (XLNX), a NASDAQ 100 stock moved above $132.32 setting an intermediate uptrend.

clip_image008

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 7th 2021

clip_image010

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for April 7th 2021

clip_image012

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 7th 2021

clip_image014

Green: Increase from previous day

Red: Decrease from previous day

 

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

 

Market Buzz

Greg Schnell says, “Something old starts to shine”. Focus is on gold mining stocks. Following is the link:

https://www.youtube.com/watch?v=eT7Rr4GHJc8&ab_channel=StockCharts

 

S&P 500 Momentum Barometers

clip_image015

The intermediate Barometer slipped 1.40 to 88.18 yesterday. It remains Extremely Overbought.

clip_image016

The long term Barometer eased 0.40 to 94.99 yesterday. It remains Extremely Overbought.

 

TSX Momentum Barometers

clip_image017

The intermediate Barometer dropped 2.42 to 79.23 yesterday. It changed from Extremely Overbought to Overbought on a move below 80.00.

clip_image018

The long term Barometer slipped 0.97 to 80.19 yesterday. It remains Extremely 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 Thursday April 8th 2021”

  1. bruce Says:

    the AAII survey for the week ending april 7th has the bulls at 56.9% up from 45.5 last week…the historic average is 38%……..the bears have dropped to 20.4% from 23.2…historically the bears have averaged 30.5%……hmmmm……

  2. Larry/ON Says:

    We’ve had minor corrections along the way and we will continue to have minor corrections. We are, however, in one of the strongest bull markets in years.
    https://www.cnbc.com/2021/04/08/jeremy-siegel-says-stock-market-could-go-up-30percent-before-boom-ends.html

  3. Vik Says:

    APHA
    Mary, from my understanding the APHA and TLRY merger will go through by the end of the month. The # of TLRY (Nasdaq listed) shares you end up with is 0.8381 x # APHA shares. Here is a useful article: https://www.thestreet.com/investing/aphria-apha-tilray-tlry-merger The newly combined company would be one of the margest cannabis players and with US moving closer to legalization + banking regulation that would be positive for the industry (hopefully)

Entries RSS Comments RSS Log in