by Don Vialoux, Timing the Market
(Next Tech Talk report is available on Monday April 21st )
Interesting Charts
Crude oil and energy stocks maintain positive momentum. āTis the season! The crude oil ETF reached an eight month high. Energy SPDRs closed at an all-time high. Individual equities breaking to new highs yesterday included Exxon Mobil, Range Resources and Chesapeake Energy.
Weekly Technical Review of Select Sector SPDRs
Technology
Ā· Intermediate trend changed from up to neutral on a move below $35.45 (Score: 0.5)
Ā· Units moved below their 20 day moving average (Score: 0.0)
Ā· Strength relative to the S&P 500 Index remains neutral (Score: 0.5)
Ā· Technical score fell to 1.0 from 2.5 out of 3.0
Ā· Short term momentum indicators are bottoming from oversold levels.
Materials
Ā· Intermediate trend changed from up to neutral on a move below $46.26.
Ā· Units remain above their 20 day moving average.
Ā· Strength relative to the S&P 500 Index remains positive
Ā· Technical score slipped to 2.5 from 3.0 out of 3.0.
Ā· Short term momentum indicators are oversold
Industrials
Ā· Intermediate trend changed from up to neutral on a move below $51.02.
Ā· Units remain above their 20 day moving average.
Ā· Strength relative to the S&P 500 Index remains positive.
Ā· Technical score slipped to 2.5 from 3.0 out of 3.0
Ā· Short term momentum indicators are oversold
Consumer Discretionary
Ā· Intermediate trend remains up
Ā· Units remain below their 20 day moving average
Ā· Strength relative to the S&P 500 Index remains negative
Ā· Technical score remains at 1.0 out of 3.0.
Ā· Short term momentum indicators are oversold
Energy
Ā· Intermediate trend remains up. Units closed at an all-time high
Ā· Units remain above their 20 day moving average.
Ā· Strength relative to the S&P 500 Index remains positive
Ā· Technical score remains at 3.0 out of 3.0
Ā· Short term momentum indicators are overbought
Financials
Ā· Intermediate trend changed from up to neutral on a move below $21.70.
Ā· Units remain below their 20 day moving average
Ā· Strength relative to the S&P 500 Index remains negative
Ā· Technical score changed to 0.5 from 1.0 out of 3.0
Ā· Short term momentum indicators are oversold.
Consumer Staples
Ā· Intermediate trend remains up.
Ā· Units remain above their 20 day moving average
Ā· Strength relative to the S&P 500 Index remains positive
Ā· Technical score remains at 3.0 out of 3.0.
Ā· Short term momentum indicators are overbought.
Health Care
Ā· Intermediate trend remains down.
Ā· Units remain below their 20 day moving average
Ā· Strength relative to the S&P 500 Index remains negative
Ā· Technical score remains at 0.0 out of 3.0
Ā· Short term momentum indicators are oversold
Utilities
Ā· Intermediate trend remains up.
Ā· Units remain above their 20 day moving average
Ā· Strength relative to the S&P 500 Index remains positive
Ā· Technical score remains at 3.0 out of 3.0
Ā· Short term momentum indicators are overbought.
Interesting Comment on Seasonality in U.S. Equity Markets
Following is a link to an article published yesterday at www.MarketWatch.com entitled,ā
Should you sell in April and go awayā?
http://www.marketwatch.com/story/should-you-sell-in-april-and-go-away-2014-04-16?dist=beforebell
Special Free Services available through www.equityclock.com
Equityclock.com is offering free access to a data base showing seasonal studies on individual stocks and sectors. The data base holds seasonality studies on over 1000 big and moderate cap securities and indices. To login, simply go to http://www.equityclock.com/charts/
Following is an example:
U.S. Energy Sector Seasonal Chart
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Technical Action by Individual Equities Yesterday
Eleven S&P 500 stocks broke resistance and two stocks (Network Appliances and Motorola Solutions) broke support yesterday. In addition to energy stocks, utility stocks were notable on the list of stocks breaking resistance (Ameren and Pinnacle West).
Among TSX 60 stocks, Metro broke to new highs.
Disclaimer: Comments, charts and opinions offered in this report by www.timingthemarket.ca and 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. Don and Jon Vialoux are Research Analysts with Horizons ETFs Management (Canada) Inc. All of the views expressed herein are the personal views of the authors and are not necessarily the views of Horizons ETFs Investment Management (Canada) Inc., although any of the recommendations found herein may be reflected in positions or transactions in the various client portfolios managed by Horizons ETFs Investment Management (Canada) Inc.
Horizons Seasonal Rotation ETF HAC April 16th 2014
Copyright Ā© Don Vialoux, Jon Vialoux, Brooke Thackray
