Tech Talk for Wednesday November 8th 2017

Tech Talk for Wednesday November 8th 2017




by Don Vialoux, Timingthemarket.ca

Observations

Russell 2000 Index moved below 1,482.53 setting new downtrend.

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China iShares moved above $46.61 to a 27 month high extending an intermediate uptrend.

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Real Estate iShares moved above $81.78 to an all-time high extending an intermediate uptrend.

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Lithium ETF moved above $39.83 to an all-time high extending an intermediate uptrend.

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Interesting anomaly! Uranium stocks and their related ETF moved strongly higher yesterday. Most of the gain came from strength in Cameco.

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‘Tis the season for strength in Cameco to the end of the year!

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Significant technical weakness (Relative strength, Short term momentum, 20 day moving average) was recorded by the U.S. S&P Financial sector yesterday.

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Weakness was most notable in regional bank stocks and their related ETF. KRE completed a double top pattern on a move below $55.52

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StockTwits Released Yesterday

Priceline.com $PCLN moved below $1,774.40 on news completing a Head & Shoulders pattern.

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TripAdvisor $TRIP moved below $35.34 on news extending an intermediate downtrend.

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Expeditors $EXPD moved above $60.81 to an all-time high extending an intermediate uptrend.

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Disney $DIS, a Dow Jones Industrial stock moved above $100.98 completing a double bottom pattern.

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‘Tis the season for strength in Disney $DIS to early May!

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for November 7th 2017

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Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for November 7th 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 November 7th 2017

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Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

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The Barometer lost another 1.20 to 64.40 yesterday. It remains intermediate overbought and trending down.

TSX Momentum Barometer

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The Barometer added 0.29 to 69.58 yesterday. It remains intermediate overbought and trending down.

CSTA Event

Oakville Chapter of CSTA is holding its next meeting this evening. Time is 7:00 PM EST. Location is Oakville City Hall. Speaker is Petra Hess. Topic is ‘Where to Enter the Early Stages of a Potential Trend Change’

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