Vialoux's Technical Talk - Sept. 10, 2014

Interesting charts

Growing technical evidence that U.S. equity markets have rolled
over and entered into at least a short term correction! Typical
in the month of September! Short term momentum indicators
(Stochastics falling below 80%, RSI trending lower from near
70%, MACD recording a negative crossover at an overbought
level, breaks below short term support levels).

Economic sensitive sectors are leading the weakness:

The VIX Index spiked, typical for September

Currencies are having an impact on equity markets. The Canadian
Dollar and the Japanese Yen broke support relative to the U.S.
Dollar Index.

StockTwits Yesterday @EquityClock

S&P stocks surprisingly quiet at 11:00 AM given fall by the
Index. 2 stocks broke resistance: $MDT, $PH. Two stocks broke
support: $GCI, $MCD.

Strength in the U.S. Dollar is starting to impact stocks such
as MCD.

$FM.CA broke support at $23.65. Following seasonal pattern for
metal stocks.

Technical Action by Individual
Equities

By the close yesterday, technical action on the downside
escalated. Four S&P 500 stocks broke resistance and nine
stocks broke support. Notable on the list of stocks breaking
support were energy stocks (BHI, BTU, CNX)

Tech Talk at the Toronto World Money
Show

Following is a link:

http://www.moneyshow.com/tradeshow/toronto/world_moneyShow/expert-details.asp?speakerid=6672FT1&scode=036364

Monitored Technical/Seasonal Trade
Ideas

Adding to the Sell/Short List. See charts above

A security must have a Technical Score of 1.5 – 3.0 to be on
this list.

Green: Increased Technical
Score

Red: Reduced Technical
Score

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.

Individual equities mentioned in StockTwits are not
held personally or in HAC.

Horizons Seasonal Rotation ETF HAC September
9^th 2014