Tech Talk for Tuesday January 18th 2022

Daily Reports Add comments

Pre-opening Comments for Tuesday January 18th

U.S. equity index futures were lower this morning. S&P 500 futures were down 48 points in pre-opening trade.

Shopify added $7.48 to US$1,110.39 after the company announced a partnership with JD.com to expand its e-commerce sales in China.

clip_image001[4]

Gap Stores dropped $0.16 to $18.11 after Morgan Stanley downgraded the stock to Under Perform.

clip_image002[4]

Sherwin Williams fell $8.87 to $299.59 after Wells Fargo downgraded the stock.

clip_image003[1]

Goldman Sachs dropped $9.80 to $371.14 after the company reported lower than consensus fourth quarter results.

clip_image004

 

EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2022/01/15/stock-market-outlook-for-january-18-2022/

Technical Notes released yesterday at

StockTwits.com@EquityClock

TSX 60 iShares $XIU.CA moved above $33.04 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable to the first week in March. If a subscriber to EquityClock, see seasonality chart at

https://charts.equityclock.com/ishares-sptsx-60-index-fund-etf-tsexiu-seasonal-chart

clip_image001

Canadian Pacific $CP.CA a TSX 60 stock moved above Cdn$97.59 extending an intermediate uptrend. Seasonal influences are favourable until early March and frequently to late May. If a subscriber to EquityClock, see https://charts.equityclock.com/canadian-pacific-railway-seasonal-chart

clip_image002

Oil service stocks on both sides of the border are responding to higher crude oil and natural gas prices. Nice breakout by Mullen Group MTL.CA above Cdn$11.82 completing a double bottom pattern!

clip_image003

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Jan.17th 2022

clip_image005

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for Jan.17th 2022

clip_image007

Green: Increase from previous day

Red: Decrease from previous day


Sectors

Daily Seasonal/Technical Sector Trends for Jan.17th 2021

clip_image009

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)

 

TSX Momentum Barometers

clip_image001[1]

The intermediate term Barometer added 2.25 to 52.94 yesterday. It remains Neutral.

clip_image002[1]

The long term Barometer added 0.45 to 56.11 yesterday. It remains Neutral.

 

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




5 Responses to “Tech Talk for Tuesday January 18th 2022”

  1. Larry/ON Says:

    GS – Missed EPS estimates due to all of the fat bonuses they paid to their traders – operating expenses increased 23%. Other big US financial firms that have not yet reported are taking a sharp drop MS, JPM. – It’s a tempest in a teapot
    EUFN – European financials made new highs last week and are testing the breakout today

    Some financials are a little overextended to be sure and we may see some sideways trading and profit taking causing temporary dips. Banks can often trade overbought for very extended periods. I would put ZEB in the context as part of XIU making a new all-time high setting up for another leg higher. As Techtalk points out today seasonal influences for the Cdn large cap market (XIU) are favourable until early March and sometimes into May.

  2. Rol Lew Says:

    commodities and metals and such, started to go up over a year ago, when there was not so much talk about 4 rates hikes. so, now that there may be rate hikes this year, will commodities come down? or maybe go up some more? what is the rhyme or reason here?

    https://stockcharts.com/freecharts/candleglance.html?DBC,FM.TO,FCX,WY,GSG,DBA,RJA,FLNG,DBB,BNO,FTGC,GLNCY|D|0
    (look at one year)

    http://shortvolumes.com/?t=RJA
    somebody has been shorting the daylights out of RJA in Dec & Jan, so “they” think that it WILL go down, not up . Today, “they” felt the pain. I sold “them” my few shares.

  3. Ron/BC Says:

    For those that have or wish to buy Michrosoft price has pulled back to the August high price support at $305 and very close to the uptrendline as well. MSFT is attempting to make a major billion dollar purchase of another company which would require Federal approval….(blaa,blaa,blaa etc.) Bottom line watch that uptrendline to hold or fail for direction.

    https://stockcharts.com/h-sc/ui?s=MSFT&p=D&yr=2&mn=0&dy=0&id=p85241099303&a=729822923

  4. Ron/BC Says:

    Here is a 10 year chart of XLE Energy fund with XEG.to and $WTIC overlaid. Price of XLE broke out above its long term downtrendline and is since bumping up against the 2018 high resistance of $65. The “story” is Crude is going to the moon this year. Draw your own conclusions……….

    https://stockcharts.com/h-sc/ui?s=XLE&p=D&yr=10&mn=0&dy=0&id=p36884437073&a=673066366

  5. Larry/ON Says:

    I am absolutely not impressed with US market conditions. It could surprise but I am looking for SPX to bottom somewhere in the 4350 range making a textbook 10% correction. The Nasdaq just closed below the 200 day MA near the low of the day. Maybe we will see buyers step in when the Nasdaq gets to the October low at 14181 which is a bit more than 2% lower. A true washout would be something like down to 13,000 at which point I would be a buyer in tech/growth.
    MSFT – It has broken the 305 support area. I would not step in until it reaches 295 and I put real hard support at 280. I could be wrong and buyers could step in on the very next daily move down to 300 but it still is not a cheap stock in a rising interest rate environment.
    Place your bets and keep your powder dry.

Entries RSS Comments RSS Log in