by Don Vialoux, Timingthemarket.ca

Observations

Encouraging news for Crude Oil and the energy sector! Crude moved above its 20 day moving average, started to outperform the S&P 500 Index and shows uptrending momentum indicators.

clip_image001

The month of April is the strongest month in the year for the S&P Energy Index on a real and relative basis.

Energy Sector Seasonal Chart

clip_image003

ENERGY Relative to the S&P 500
clip_image005

clip_image006

StockTwits Released Yesterday @EquityClock

Energy stocks lead as price of oil bounces from trend line support.

Technical action by S&P 500 stocks to Noon: Bullish. Breakouts: $CBS $MSFT $WDC $EMN $FCX $QRVO. Breakdown: $PEG

Editor’s Note: After Noon, breakout included GPN and breakdown included AKAM.

Microsoft $MSFT, a Dow Jones Industrial Average stock moved above $65.51 to an all-time high extending an intermediate uptrend.

clip_image007

Rogers Communications $RCI, a TSX 60 stock moved above US$42.71 extending intermediate uptrend.

clip_image008

Base Metal ETN $DBB moved above $16.75 extending an intermediate uptrend.

clip_image009

Dollarama $DOL.CA moved above $104.33 to an all-time high extending an intermediate uptrend.


clip_image010

Martinrea $MRE.CA moved above $10.12 extending an intermediate uptrend. ‘Tis the season for strength!

clip_image011

clip_image013

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 30th 2017

clip_image015

Green: Increase from previous day

Red: Decrease from previous day

Commodities and related ETFs

Daily Seasonal/Technical Commodities Trends for March 30th 2017

clip_image017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Sectors

Daily Seasonal/Technical Sector Trends for March 30th 2017

clip_image019

Green: Increase from previous day

Red: Decrease from previous day

Accountability Report

Tech Talk has supported a variety of precious metal equity trades since late December. Most but not all have been profitable trades. The period of seasonal strength for the sector is from mid- December to late February.

clip_image021

In retrospect, liquidation of seasonal trades near the third week in February was optimal. However, the sector began to show the possibility of continuing strength thanks to technical signs that the U.S. Dollar was starting to trend lower, a bullish leading indicator for gold and gold stocks. Accordingly, Tech Talk missed the optimal time to take profits. Since early March, the Gold Bug Index has gained 8.4% thanks to weakness in the U.S. Dollar Index. Now, short term momentum indicators for the U.S. Dollar Index are turning up and short term momentum indicators for gold and silver equities are turning down. Accordingly, previously supported seasonal trades in precious metal equities no longer are supported.

clip_image022

clip_image023

Previous precious metal equities originally supported by Tech Talk in Tech Talk reports and StockTwits with price charts and seasonality charts included:

Gold Bug Index (HUI $196.42) at 173.14 on December 28th

Eldorado Gold (EGO $3.48) at US$3.13 on December 28th

TSX Gold iShares (XGD $12.92) at $12.33 on December 29th

Franco-Nevada (FNV $86.66) at $81.77 on December 29th

Silver Wheaton (SLW $27.08) at $27.12 on December 29th

Barrick Gold (ABX $25.12) at $23.35 on January 23rd

Yamana Gold (YRI $3.71) at $4.36 on January 23rd

Silver Standard (SSO $13.87) at $13.67 on January 31st

S&P 500 Momentum Barometer

clip_image024

The Barometer added 2.60to 62.00 yesterday. It became more intermediate overbought with a downward trend.

TSX Momentum Barometer

clip_image025

The Barometer slipped 1.75 to 59.50 yesterday. It remains intermediate overbought with a downward trend.




Pages ( 1 of 2 ): 1 2Next »