Vialoux's Tech Talk: Season for Ag Stocks? (June 18, 2014)

Interesting Charts

The calm before the storm! Equity markets were quiet yesterday
prior to release of news from the FOMC meeting today at 2:00 PM
EDT. Responses by equity markets to news during the past 11
meetings have been strong (ie. recorded greater than average
volatility). Responses on the downside exceeded responses on
the upside.

Technical Action by Individual Equities
Yesterday

Technical action by S&P 500 stocks remained quietly bullish
yesterday. Eight stocks broke resistance (GME, ETFC, CRM, CME,
MOS, QEP, FRX and ACT) and two stocks broke support (MDLZ,
BSX).

Among TSX 60 stocks, Potash Corp broke to new highs

Note the positive technical action by the fertilizer stocks.

Consensus Second Quarter Earnings Per Share
Estimates for TSX 60 Companies

Consensus estimates for TSX 60 companies show moderate gains on
a year over year basis. Average (median) gain is 6.8%. Thirty
nine companies are expected to report higher earnings, two
companies are expected to report no change and 18 companies are
expected to report lower earnings. Companies expected to record
the largest percent gains are Canadian Pacific and energy
companies. Companies expected to record the highest percent
declines are the gold companies.

*Median

Source: Zacks Investment Research

Special Free Services available
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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
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Following is an example:

POT.TO Relative to the S&P 500

POT.TO Relative to the Sector

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
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
Management (Canada) Inc.

Horizons Seasonal Rotation ETF HAC June
17^th 2014