by Don Vialoux, Timingthemarket.ca
Technical Action by S&P 500 stocks yesterday
Technical action was mixed. Nine S&P 500 stocks broke intermediate resistance and 10 stocks broke support. Financial stocks dominate the list of stocks breaking resistance. Utility stocks dominated the list of stocks breaking support.
Interesting Charts
Merge rumors about Agrium and Potash Corp had a significant impact on fertilizer stocks and related ETFs
Strength in Canadian Bank stocks and Manulife triggered a move by the TSX Financial Index to above 253.50 to a 15 month high.
Strength in the U.S. Dollar is having a negative impact on commodity prices
Trader’s Corner
Daily Seasonal/Technical Equity Trends for August 30th 2016
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for August 30th 2016
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Sector Trends for August 30th 2016
Green: Increase from previous day
Red: Decrease from previous day
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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 slipped 1.60 to 62.00. It remains in an intermediate overbought and trending down.
TSX Composite Momentum Barometer
The Barometer dropped another 4.46 to 56.22. It remains intermediate overbought and trending down.
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
