by Don Vialoux, Timingthemarket.ca
StockTwits released yesterday
Crude oil soars despite multi-decade highs in the Days of Supply of the commodity.
Nice breakout by TSX Gold Index above $149.83 to complete a base building pattern.
U.S. Precious Metals ETFs breaking resistance today include $GDX and $WITE. Also, nice breakout by $PAAS
Editor’s Note: Silver stocks joined the gold stocks
Base Metal stocks also joined the parade.
Commodity prices were helped by a plunge in the U.S. Dollar Index
Conversely, nice breakout by the Euro!
And a corresponding pop in the Canadian Dollar!
Technical action by S&P 500 stocks yesterday
Lots of volatility, but in the end, technical action remained quietly bullish. Breakouts: AES, CTL, EW, KMB, PXD. Breakdown: LOW.
Trader’s Corner
Technical scores generally moved higher yesterday when equity indices, commodities and sectors moved above their 20 day moving average.
Daily Seasonal/Technical Equity Trends for February 3rd 2016
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for February 3rd 2016
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Sector Trends for February 3rd 2016
Green: Increase from previous day
Red: Decrease from previous day
Interesting Charts
Nice breakout by Silver above $14.64!
‘Tis the season for silver to move higher until mid-April!
Technical score for the Materials sector increased to 2 from -4 when strength relative to the S&P 500 Index turned positive and the Index moved above its 20 day moving average.
‘Tis the season for strength in the Materials sector into May!
Strength in the Materials sector is related to strength in the Chemical sub-sector.
Technical score for the Industrial sector increased to 2 from -4 when strength relative to the S&P 500 Index turned positive and the Index moved above its 20 day moving average.
‘Tis the season for strength in the Industrial sector into May!
Disclaimer: Seasonality and technical ratings 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.
Copyright © DV Tech Talk, Timingthemarket.ca
