Markets

Tech Talk for Wednesday June 22nd 2016

byDon Vialoux, EquityClock.com

June 22, 2016

2 minute read

by Don Vialoux, Timingthemarket.ca

Observations

“Brexit” remains a focus. Traders are guessing that the U.K. will remain within the European Economic Community.

Response to Janet Yellen’s testimony before the Senate Finance Committee was muted. Yellen testifies before a House committee today.

StockTwits Released Yesterday

British Pound rebounds to test long term trend line ahead of referendum.

Technical action by S&P 500 stocks to 10:15: Quiet. No breakouts. One breakdown: $HBAN

Editor’s Note: After 10:15 AM EDT, technical action by S&P 500 stocks was mixed. Breakouts: MAC and PG. Breakdowns: ADS and LLY

Nice breakout by $PG above resistance at $83.70 to a 16 month high extending an intermediate uptrend.

Traders are guessing that Brexit will not happen. $EWU briefly moved above $16.55.

Trader’s Corner

Daily Seasonal/Technical Equity Trends for June 21^st 2016

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for June 21^st 2016

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for March June 21^st 2016

Green: Increase from previous day

Red: Decrease from previous day

Special Free Services available through www.equityclock.com

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 cap securities and indices. To login, simply go to http://www.equityclock.com/charts. Following is an example:

S&P 500 Index Momentum Barometer

The Barometer slipped 0.28 to 61.32. The Barometer remains overbought and in an intermediate downtrend.

TSX Composite Index Momentum Barometer

The Barometer slipped 3.46 to 65.80. The Barometer remains overbought and in an intermediate downtrend

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

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.