by Don Vialoux, Timingthemarket.ca
Observations
The Bank of Canada maintained its overnight lending rate at 0.5% and offered a slightly dovish outlook on the Canadian economy. The Canadian Dollar was not impressed. It dropped US 0.27 cents to 77.60 (partially due to slight strength in the U.S. Dollar Index).
North American equity markets moved in a relative small trading range yesterday. Highlight was a move by the Dow Jones Transportation Average above 8,048.09 to a five month high.
StockTwits Released Yesterday @EquityClock
NASDAQ moving above resistance, closing at new all-time high.
Editor’s Note: The Index closed at another all-time high at the close yesterday
Technical action by S&P 500 stocks to 10:15: Mixed. Breakouts: $APA, $APC, $CNX, $OKE, $WLTW, $LUV. Breakdowns: $GIS, $KR, $WFM, $HST
Editor’s Note: After 10:15 AM EDT, breakouts included MHK, KMX and TSO while breakdowns included CLX, MJN and ALLE
Trader’s Corner
Daily Seasonal/Technical Equity Trends for September 7th 2016
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for September 7th 2016
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Sector Trends for September 7th 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 are examples:
Editor’s Note: The NASDAQ Composite Index, Apple as well as most economic sensitive sectors have a history of moving higher to mid-September followed by a correction into mid-October.
S&P 500 Momentum Barometer
The Barometer added 0.20 to 61.60 yesterday. It remains intermediate overbought and trending down.
TSX Momentum Barometer
The Barometer dropped 3.16 to 63.36 yesterday. 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
