by Don Vialoux, Tech Talk
Weekly Select Sector SPDR Review
Technology
· Intermediate trend is up. Resistance has formed at $30.96.
· Units remain above their 20, 50 and 200 day moving averages.
· Short term momentum indicators are trending down.
· Strength relative to the S&P 500 Index remains positive.
Materials
· Intermediate trend is up. Resistance has formed at $36.63.
· Units remain just above their 50 and 200 day moving averages and below their 20 day moving average.
· Short term momentum indicators are trending down.
· Strength relative to the S&P 500 Index remains neutral, but showing signs of turning negative.
Consumer Discretionary
· Intermediate trend is up.
· Units trade above their 20, 50 and 200 moving averages
· Short term momentum indicators are overbought.
· Strength relative to the S&P 500 Index remains positive.
Industrials
· Short and intermediate trend is up. A bearish key reversal was recorded on August 21st. Resistance has formed at $37.39
· Units remain above their 50 and 200 day moving average and below their 20 day moving averages.
· Short term momentum indicators are trending down.
· Strength relative to the S&P 500 Index turned from positive to negative.
Energy
· Short and intermediate trend is up. Resistance has formed at $73.03.
· Units remain above their 50 and 200 day moving averages and below their 20 day moving average.
· Short term momentum indicators are trending down.
· Strength relative to the S&P 500 Index has changed from positive to negative.
Financials
· Short and intermediate trend is up. Resistance has formed at $15.38.
· Units trade above their 20, 50 and 200 day moving averages.
· Short term momentum indicators are trending down.
· Strength relative to the S&P 500 Index remains neutral, but is showing signs of turning positive.
Consumer Staples
· Short and intermediate trend is up. Resistance has formed at $36.00. A bearish key reversal signal was recorded on August 21s .
· Units remain above their 50 and 200 day moving averages and below their 20 day moving average.
· Short term momentum indicators are trending down.
· Strength relative to the S&P 500 Index has been negative, but is showing signs of change.
Health Care
· Short and intermediate trend is up. Units touched an all-time high yesterday.
· Units remain above their 20, 50 and 200 day moving averages.
· Short term momentum indicators are neutral.
· Strength relative to the S&P 500 Index has been negative, but has turned positive.
Utilities
· Intermediate trend is down. Next support is at $36.00.
· Units remain below their 20 and 50 day moving averages, but remain below their 200 day moving average.
· Short term momentum indicators are oversold, but have yet to show signs of bottoming.
· Strength relative to the S&P 500 Index remains negative.
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Canadian Tire Corporation Limited (TSE:CTC) Seasonal Chart
Disclaimer: Comments and opinions offered in this report at www.timingthemarket.ca 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.
Don and Jon Vialoux are research analysts for Horizons Investment Management Inc. All of the views expressed herein are the personal views of the authors and are not necessarily the views of Horizons Investment Management Inc., although any of the recommendations found herein may be reflected in positions or transactions in the various client portfolios managed by Horizons Investment Management Inc
Horizons Seasonal Rotation ETF HAC September 5th 2012
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