by Don Vialoux, Timingthemarket.ca
Observations
U.S. highlights yesterday included the Biotech, Home Builder and the “gassy” sectors. Home Builders were helped by higher than expected July New Home Sales. “Gassy” stocks and related ETFs were helped by an improving technical profile for natural gas. Hurricane season is approaching.
StockTwits Released Yesterday
New concerns emerge in the seasonal gold trade as miners start to underperform the commodity.
Editor’s note: Several gold equities broke short term support including Goldcorp and Eldorado.
Technical action by S&P 500 stocks to 10:00: Bullish. Breakouts: $BWA, $CCL, $WAT, $LRCX, $WU, $URI.
Editor’s Note: After 10:00 AM EDT, the following S&P 500 stocks broke resistance: MCO, CFG, V, DHI and TMK. Breakdowns included NOC and PGR.
Nice breakout by $ZEB.CA above $23.67 to an all-time high following $BMO.CA report!
Cdn. banks moving to new highs include $BNS.CA, $NA.CA, $BMO, $RY.CA
Nice breakout by $BBH above resistance at $118.52 extending intermediate uptrend!
‘Tis the season for strength in the Biotech sector to mid-September! $BBH, $IBB, $FBT
Nice breakout by $GIB above $49.50 reaching all-time high extending intermediate uptrend.
Breakout by S&P Materials Index above 308.20 reaching 1 year high extending intermediate uptrend! Also, $XLB
Trader’s Corner
Daily Seasonal/Technical Equity Trends for August 23rd 2016
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for August 23rd 2016
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Sector Trends for August 23rd 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 Momentum Barometer
The Barometer added 1.60 to 70.20 yesterday. It remains intermediate overbought and trending down.
TSX Composite Momentum Barometer
The Barometer slipped 0.43 to 70.64 yesterday. It remains intermediate overbought and rolling over.
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
