Tech Talk for Wednesday April 20th 2016

April 20, 2016

2 minute read

StockTwits Released Yesterday @equityclock

Technical action by S&P 500 stocks to 10:15: Bullish. Breakouts: $DISCK, $TGT, $PG, $TGT, $PG, $BK, $TMK, $ABC, $MDT, $UNH, $PWR, $SWK, $AA, $EMN, $FCX, $IFF

Editor’s Note: After 10:15 AM EDT, another 6 S&P 500 stocks broke resistance: UPS, CSCO, XRX, DD, PFE, LYB, NI. No breakdowns.

Agriculture ETF $MOO is responding to higher grain prices. Nice breakout above $47.54.

Health Care stocks continue to outperform. Nice breakout by UnitedHealth Group $UNH to an all-time high!

Another breakout by a DJIA stocks! Procter & Gamble broke resistance at $83.07 to reach a 12 month high.

Commerce Bank $CM.CA moved above resistance at $99.40 to extend an intermediate uptrend.

Editor’s Note: Scotia Bank also broke resistance to extend an intermediate uptrend.

Oil Services ETF $OIH moved above resistance at $28.08 to extend an intermediate uptrend.

More Dow Jones Industrial Average stocks breaking resistance to extend uptrends: $DD $CSCO

Trader’s Corner

Daily Seasonal/Technical Equity Trends for April 19^th 2016

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 19^th 2016

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for March April 19^th 2016

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

Barometer drifted slightly lower yesterday from an intermediate overbought level

TSX Momentum Barometer

Barometer drifted slightly lower yesterday from an intermediate overbought level.

Interesting Charts

Continuing weakness in the U.S. Dollar Index had a direct positive impact on commodity prices.

European equity indices and related ETFs continue to outperform the S&P 500 Index

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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.