Technical Notes
Kraft Heinz $KHC an S&P 100 stock moved above $38.07 setting an intermediate uptrend.
Walgreens Boots $WBA an S&P 100 stock moved below $20.42 extending an intermediate downtrend.
Biogen $BIIB a NASDAQ 100 stock moved below $215.35 extending an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 26th 2024
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for March 26th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 26th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Volatility Signals Higher Stock Prices Ahead: Tom Bowley
Volatility Signals Higher Stock Prices Ahead – YouTube
Energy Stocks are ready to soar: Joe Rabil
https://www.youtube.com/watch?v=DR7Vdouhdqg
Chart Check on Stocks at Record Highs: Guy Adami, Dan Nathan, Carter Worth
https://www.youtube.com/watch?v=u1zqFIIv610
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 1.80 to 73.00. It remains Overbought.
The long term Barometer dropped 1.00 to 79.00. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 1.34 to 67.86. It remains Overbought.
The long term Barometer added 0.65 to 68.75. It remains Overbought.
Disclaimer: Seasonality ratings 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
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March 28th, 2024 at 10:43 am
Month and quarter end rebalancing has been going on in funds with percentage mandates. Whatever went up the most gets sold the most the last couple of trading days.
Happy Easter everyone. It’s early this year.
March 28th, 2024 at 2:36 pm
Larry/On
Thanks Larry. Happy Easter to all!
I think I heard your voice on Market Call yesterday, asking about CNQ. It seems that it is getting “discovered” now. LOL
March 28th, 2024 at 2:48 pm
Energy has some serious buying pushing it up non-stop now for five weeks. I’ve been trying to be a little sceptical but I’m starting to believe that this energy bull market has a long way to go no matter what pull-back comes purely due to being technically stretched. RSI is really elevated on everything in the sector. I have no idea about nat gas. How does a company like TOU still make money with the gas price at multi-year lows? They are probably making some money off their hedges. That stock is on the verge of breaking the neckline of a large reverse head and shoulders pattern. BIR’s CEO a couple of years ago proudly said that they don’t hedge and that “the road to hell is paved with hedging.” Look at their chart in comparison to TOU.
March 31st, 2024 at 10:30 pm
https://www.youtube.com/watch?v=vKQ3xQl00xU
https://stockcharts.com/freecharts/seasonality.php?symbol=XLE
March 31st, 2024 at 10:33 pm
#4 Sorry about that. I meant to paste this:
https://stockcharts.com/freecharts/seasonality.php?symbol=XLE
March 31st, 2024 at 10:37 pm
Lets try this.
https://stockcharts.com/h-sc/ui?s=XLE&p=W&yr=10&mn=0&dy=0&id=p54959538672&a=1197104198