Vialoux's Tech Talk: May 13, 2014

by Don Vialoux, Timing the Market
Interesting Charts

All-time closing highs were registered yesterday by the S&P 500 Index, Dow Jones Industrial Average and Dow Jones Transportation Average. The S&P 500 Index closed just below its all-time intraday high at 1,987.28.

The VIX Index responded by testing a multi-year low.

Strongest sector was Technology.

Not all sectors moved higher. Oil services and related ETFs were notably weaker.

As noted by a technical analyst on CNBC’s Fast Money last week, strength in S&P 500 stocks has been selective (i.e. some but not all sectors are moving higher as demonstrated by Percent of S&P 500 stocks trading above their 50 day moving average).

In international markets, India and related ETFs led the advance. Results of India’s recent national election are expected to be released shortly. A “Pro-Capitalist” party is expected to win.

Greece equities and related ETFs moved in the opposite direction.

Base metal prices rose strongly following strength in the Shanghai Composite Index. Nickel and its related ETN have “gone parabolic”.

Technical Action by Individual Equities Yesterday

Technical action was bullish yesterday. Nineteen S&P 500 stocks broke resistance and none broke support. Notable stocks breaking resistance to all-time highs were Oracle and General Dynamics.

Two TSX 60 stocks broke to all-time highs, Canadian Pacific and Canadian National Railway.

Horizons ETFs Market Sector Technical Scorecard

Tech Talk and Horizons have partnered to develop a weekly report showing changed in seasonal and technical trends for a variety of actively traded markets and sectors. Following is a link to the report published yesterday based on seasonal and technical conditions existing after the close on Friday relative to the previous week.

http://www.horizonsetfs.com/campaigns/TechnicalReport/index.html

Color codes in the report included lots of red this week implying significant technical deterioration from the previous week.

Horizons Simulated Trading Competition Using ETFs

Horizons launches its simulated trading competition using ETFs on May 20^th. Everyone is welcome. Cost to participants is zero. Should be fun! Following is a link giving more details and a connection to register:

http://thebiggestwinner.stocktrak.com/home.aspx

CSTA Event

Javed Mirza, technical analyst for RBC Capital is presenting to the Toronto chapter:

Time: 4:30-6:00 PM

Date: Tuesday May 27^th

Topic: A Trend & Cycle Review of the Canadian Market

More information and registration is available at www.csta.org

Special Free Services available through www.equityclock.com

Equityclock.com is offering free access to a data base showing seasonal studies on individual stocks and sectors. The data base holds seasonality studies on over 1000 big and moderate cap securities and indices. To login, simply go to http://www.equityclock.com/charts/

Following is an example:

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.

Twitter comments (Tweets) are not offered on individual equities held personally or in HAC.

Horizons Seasonal Rotation ETF HAC May 12^th 2014

Copyright © Don Vialoux, Jon Vialoux, Brooke Thackray