by Don Vialoux, Timingthemarket.ca

Editor’s Notes: Next Tech Talk report is released on Tuesday May 30th

Mr. Vialoux is contributing to Mark Leibovit’s weekly radio show that is available on the internet at 10:00 AM EDT each Saturday. Station is KFNN 1510 in Phoenix. The show is repeated at 10:00 AM MNT on Sunday and a link to the show normally appears in Tech Talk on the following Monday (not this week due to holidays). Mark is a former Wall Street Week Elf and has won many awards for his service. See www.vrtrader.com for background. The radio show normally includes 4-5 segments featuring well known investment professional that focus on trading opportunities. Mr. Vialoux provides a Canadian/technical analysis/seasonality analysis flavour to the show.


Observation

Bad news about politicians frequently leads to bad news for equity prices.

clip_image001

StockTwits Released Yesterday @EquityClock

Break of horizontal support around 2325 on S&P 500 projects downside potential toward 2250.

See http://www.equityclock.com/2017/05/17/stock-market-outlook-for-may-18-2017/

Technical action by S&P 500 stocks to Noon: Bearish. Breakouts: $AAP $ES. Breakdowns: 17 stocks.

Editor’s Note: After Noon, HSY broke up and no stocks broke down.

Cisco $CSCO, a Dow Industrial stock completed a double top pattern on a break below $32.42.

clip_image002

Agriculture iShares $COW.CA moved below $36.65 and $36.36 setting an intermediate downtrend.

clip_image003

Mexico iShares $EWW moved below $50.42 completing a double top pattern.

clip_image004

Palladium ETN $PALL moved below $73.73 setting an intermediate downtrend.

clip_image005

SNC Lavalin $SNC.CA, a TSX 60 stock moved below $50.42 extending an intermediate downtrend.

clip_image006

Leveraged zinc ETN $LZIC.L moved below $7.00 completing a modified Head & Shoulders pattern. Stocks under pressure.

clip_image007

Celestica $CLS.CA moved below $18.34 completing a double top pattern.

clip_image008

Methanex $MX.CA moved below $56.95 completing a Head & Shoulders pattern.

clip_image009

IGM Financial $IGM.CA moved below $39.18 completing a double top pattern.

clip_image010

Weakness in $KMI and Cdn. Oil Sands producer stocks does not bode well for a favourable final B.C. provincial election count early next week.

clip_image011

clip_image012

clip_image013

Trader’s Corner

Daily Seasonal/Technical Equity Trends for May 18th 2017

clip_image015

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for May 18th 2017

clip_image017

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for May 18th 2017

clip_image019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

clip_image020

The Barometer added 2.00 to 46.20 yesterday. It remains intermediate neutral and in a downtrend.

TSX Momentum Barometer

clip_image021

The Barometer slipped another 0.99 to 43.72 yesterday. It remains intermediate neutral and in a downtrend.

Disclaimer: Seasonality and technical ratings offered in this report 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

Copyright © DV Tech Talk, Timingthemarket.ca