Tech Talk for Friday August 25th 2017

Tech Talk for Friday August 25th 2017




by Don Vialoux, Timingthemarket.ca

Don Vialoux on BNN Television

Join us at Market Call Tonight at 5:30 PM EDT today.

Observations

News that Amazon plans to cut prices at Whole Foods after completion of the takeover next Monday had a significant impact on Consumer Staple stocks involved with food and food distribution.

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The approach by Hurricane Harvey in the Gulf of Mexico is impacting a variety of stocks:

Natural gas prices are rising as gas producing platforms in the Gulf shut down

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Gasoline prices are increasing as approximately one third of U.S. oil refining capacity is shut down

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Sugar prices rise as cane sugar production along the Gulf is threatened

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Insurance stocks decline in anticipation of property damage claims

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StockTwits Released Yesterday @EquityClock

Price of oil consolidating around declining trend line resistance as stockpiles continue to decline. See http://www.equityclock.com/2017/08/23/stock-market-outlook-for-august-24-2017/

July was a weak month for #housing with existing home sales down by 14.5% (NSA) (Average: -6.2%) #Economy $MACRO

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Emerging markets iShares $EEM moved above $44.58 extending an intermediate uptrend.

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VALE $VALE moved above $10.39 extending an intermediate uptrend.

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China iShares $FXI moved above $43.50 extending an intermediate uptrend.

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Fairfax Financial $FFH.CA moved above $615.47 on news extending an intermediate uptrend.

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Technical action by S&P 500 stocks to 10:15: Bullish. Breakouts: $BBY $DG $DLPH $DLTR $SIG $TSCO $PVH $TJX $STZ $COL $ESS $O

Technical breakdowns by S&P 500 stocks to 10:15: $HRL $MDLZ $SJM $AIG

Editor’s Note: After 10:15 AM EDT, breakouts included ES, HPQ and EXC. Breakdowns included KR and CVS.

Shopify $SHOP moved above $105.79 to all-time high extending an intermediate uptrend.

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Another base metal breakout! Lundin Mining $LUN.CA moved above $9.64 extending an intermediate uptrend.

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Junior Gold Miner ETF $GDXJ moved above $33.98 re-affirming intermediate uptrend.

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Editor’s Note: Silver stocks and their related ETF also had a good day on the charts

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Loblaw $L.CA moved below $67.46 extending an intermediate downtrend. U.S. grocers also down.

Editor’s Note: Amazon’s announcement spilled into Canadian food distributor stocks

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for August 24th 2017

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Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for August 24th 2017

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Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for August 24th 2017

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Green: Increase from previous day

Red: Decrease from previous day

Schachter Energy Report

Josef’s latest monthly report was released on Wednesday. Highlights include:

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Full report by subscription is available at https://www.schachterenergyreport.ca/category/ser/

S&P 500 Momentum Barometer

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The Momentum dropped 1.40 to 44.60 yesterday. It remains intermediate neutral and trending down.

TSX Momentum Barometer

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The Momentum added 2.90 to 46.06 yesterday. It is intermediate neutral 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