by Don Vialoux, Timing the Market
Interesting Charts
Long term Treasury prices continue to climb despite tapering by the Fed by $10 billion per month. Higher Treasury prices imply a slowdown in the U.S. economy. Equity investors: Caveat Emptor!
Technical Action by Individual Equities Yesterday
Technical action by S&P 500 was mildly bullish prior to today’s employment report. Eleven S&P 500 stocks broke resistance and six stocks broke support
Weekly Technical Review of Select Sector SPDRs
Technology
· Intermediate trend remains neutral (Score: 0.5)
· Units remain above their 20 day moving average (Score: 1.0)
· Strength relative to the S&P 500 Index remains neutral (Score: 0.5)
· Technical score was unchanged at 2.0 out of 3.0
· Short term momentum indicators are trending up.
Materials
· Intermediate trend remains neutral
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index changed from neutral to negative.
· Technical score slipped to 1.5 from 2.0 out of 3.0
· Short term momentum indicators changed from up to mixed.
Industrials
· Intermediate trend remains neutral
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index changed from positive to neutral
· Technical score slipped to 2.0 from 2.5 out of 3.0.
· Short term momentum indicators are trending up.
Consumer Discretionary
· Intermediate trend remains up.
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index remains negative
· Technical score remains at 2.0 out of 3.0
· Short term momentum indicators are trending up.
Financials
· Intermediate trend remains neutral.
· Units remain above their 20 day moving average.
· Strength relative to the S&P 500 Index remains negative
· Technical score remains at 1.5 out of 3.0.
· Short term momentum indicators are trending up
Energy
· Intermediate trend remains up.
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index remains positive.
· Technical score remains at 3.0
· Short term momentum indicators are trending up.
Consumer Staples
· Intermediate trend remains up
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index changed from neutral to positive
· Technical score improved to 3.0 from 2.5 out of 3.0.
· Short term momentum indicators are trending up.
Health Care
· Intermediate trend remains down.
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index remains neutral
· Technical score remained at 2.0 out of 3.0.
· Short term momentum indicators are trending up
Utilities
· Intermediate trend remains up
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index remains positive
· Technical score remains at 3.0 out of 3.0
· Short term momentum indicators are trending up.
Summary of Weekly Seasonal/Technical Parameters for SPDRs
Key:
Seasonal: Positive, Negative or Neutral on a relative basis applying EquityClock.com charts
Trend: Up, Down or Neutral
Strength relative to the S&P 500 Index: Positive, Negative or Neutral
Momentum based on an average of Stochastics, RSI and MACD: Up, Down or Mixed
Twenty Day Moving Average: Above, Below
Please note that seasonal influences change from Positive to Neutral next week for XLB, XLI, XLE and XLK.
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PHLX Semiconductor Seasonal Chart
FP Trading Desk Headline
FP Trading Desk headline reads, “The global economic rebound may be weaker than you think”. Following is a link:
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Disclaimer: Comments, charts and opinions offered in this report by www.timingthemarket.ca 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. Don and Jon Vialoux are Research Analysts with Horizons ETFs Management (Canada) Inc. All of the views expressed herein are the personal views of the authors and are not necessarily the views of Horizons ETFs Investment Management (Canada) Inc., although any of the recommendations found herein may be reflected in positions or transactions in the various client portfolios managed by Horizons ETFs Investment Management (Canada) Inc.
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Horizons Seasonal Rotation ETF HAC May 1st 2014
Copyright © Don Vialoux, Jon Vialoux, Brooke Thackray
