by Don Vialoux, Timingthemarket.ca

Upcoming BNN Appearance:

Jon Vialoux will be on BNN’s Market Call Tonight at 5:30pm ET this evening taking your calls on Technical Analysis and Seasonal Investing.  CALL TOLL-FREE 1-855-326-6266,  EMAIL marketcall@bnn.ca,  or TWEET @MarketCall  Be sure to send in your video questions for priority response on air.


Observations

Volatility spiked on concerns about stability of the Trump Administration. Volatility is expected to continue today when August index and equity futures and options reach expiry.

Key U.S. equity indices responded by moving below their 20 and 50 day moving averages.

clip_image001

clip_image002

clip_image003

clip_image004

Notice the high negative correlation between price of the S&P 500 Equal Weight ETF (RSP) and the VIX Index. RSP already has declined 3.2% from its high on July 25th

clip_image005

clip_image006

StockTwits Released Yesterday @EquityClock

Days of supply of oil down to lowest level in almost 2 years. See

http://www.equityclock.com/2017/08/16/stock-market-outlook-for-august-17-2017/

Retail SPDRs moved below $38.53 extending their intermediate downtrend.

clip_image007

Technical action by S&P 500 stocks to 10:00: Quiet. Breakouts: $BF.B $HSY. Breakdown: $MPC

Editor’s Note: After 10:00 AM EDT, breakdowns included AIG, CSCO, BHGE, GLW. XLNX, BLK, DGX, AKAM and AIZ. No breakouts.

Maple Leaf Foods $MFI.CA moved above $35.33 to an all-time high extending an intermediate uptrend.

clip_image008

The Volatility Index $VIX is up 3.01 to 14.75. ‘Tis the season for higher volatility until mid-October!

clip_image010

Trader’s Corner

Daily Seasonal/Technical Equity Trends for August 17th 2017

clip_image012

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for August 17th 2017

clip_image014

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for August 17th 2017

clip_image016

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

clip_image017

The Barometer dropped 11.80 to 43.00 yesterday. It has declined to slightly intermediate oversold and trending down.

TSX Momentum Barometer

clip_image018

The Barometer slipped 1.67 to 43.75 yesterday. It remains slightly intermediate oversold and trending down.

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