Tech Talk for Wednesday February 10th 2016

February 10, 2016

2 minute read

StockTwits released yesterday

Financials falter as Treasury yields touch 52 week lows.

Technical action by S&P 500 stocks to 10:30: Bearish. Breakdowns: $DISCA, $VIAB, $CMA, $LUK, $VTR, $ZION, $AMAT. Breakout: $MLM.

Editor’s Note: After 10:30 AM EST, breakout was CHD and breakdowns were FTI, YUM, TWX, CB and MRO.

Big cap Europe ETF $EZU broke support to reach a 30 month low.

Agrium $AGU broke support at $81.06 to extend an intermediate downtrend following release of quarterly results.

Thomson Reuters $TRI broke support at $49.42 to extend an intermediate downtrend.

Cameco $CCO.CA extended an intermediate downtrend on a break below $15.06 to reach a 7 year low.

BlackBerry $BB.CA extended an intermediate downtrend on a break below support at $9.21.

Trader’s Corner

Technical scores slipped yesterday when markets, commodities and sectors broke below their 20 day moving averages and short term momentum indicators rolled over from overbought levels.

Daily Seasonal/Technical Equity Trends for February 9^th 2016

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for February 9^th 2016

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for February 9^th 2016

Green: Increase from previous day

Red Decrease from previous day

Interesting Charts

The U.S. Dollar Index remains under intense pressure, good news for commodity prices. Traders are guessing that Janet Yellen will hint at a deferral of another increase in the Fed Fund rate.

Conversely, the Euro continues to surge.

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Author

Don Vialoux, EquityClock.com

Don Vialoux is the author of free daily reports on equity markets, sectors, commodities and Exchange Traded Funds. All of the views expressed herein are his personal views although they may be reflected in positions or transactions in the various client portfolios. Daily reports are available at http://www.timingthemarket.ca.