Tech Talk for Tuesday April 19th 2016

April 19, 2016

2 minute read

StockTwits Released Yesterday @equityclock

Price of sugar entering a seasonal strong period that runs through the end of July.

Technical action by S&P 500 stocks to 10:00: Quiet. Two stocks broke intermediate resistance: $JBHT and $DIS. None broke support.

Editor’s Note: After 10:00 AM, another 7 S&P 500 stocks broke intermediate resistance levels: PCLN, MCO, COP, IVZ, MSFT, IP and AVY.

Europe ETFs are breaking out and extending intermediate uptrends on positive strength relative to the S&P 500.

Selected base metal stocks $TCK $RIO $BHP are breaking to new highs extending intermediate uptrends.

Microsoft $MSFT moved above resistance at $56.44 to reach an all-time high extending intermediate uptrend.

Nice breakout by Husky Energy $HSE.CA above resistance at $17.09 extending intermediate uptrend.

Dow Jones Industrial Average moved above resistance at 17,977.75 to reach a 9 month high. Ditto for $DIA!

Trader’s Corner

Daily Seasonal/Technical Equity Trends for April 18^th 2016

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 18^th 2016

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for March April 18^th 2016

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

Percent increased slightly yesterday, but remains intermediate overbought

TSX Composite Momentum Barometer

Percent increased slightly yesterday, but remains intermediate overbought

Interesting Charts

Nice breakout by the DAX Index above 10,112.17 to complete a modified reverse head and shoulders pattern! The Index is showing early signs of outperformance relative to the S&P 500 Index

Grain prices continue to surge higher.

Market Vectors Pharmaceutical ETF completed a double bottom pattern on a move above $59.48

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Author

Don Vialoux, EquityClock.com

Don Vialoux is the author of free daily reports on equity markets, sectors, commodities and Exchange Traded Funds. All of the views expressed herein are his personal views although they may be reflected in positions or transactions in the various client portfolios. Daily reports are available at http://www.timingthemarket.ca.