Tech Talk for Wednesday October 21st 2020

October 21, 2020

2 minute read

by Don Vialoux, EquityClock.com

Technical Notes for Tuesday October 20^th

Magna International (MG), a TSX 60 stock moved above $71.00 extending an intermediate uptrend.

Base Metals ETN (DBB), one third each in copper, zinc and aluminum, moved above $15.81 extending an intermediate uptrend.

Spot Copper futures moved above $3.12 to $3.15 per lb. extending an intermediate uptrend.

Southern Copper (SCCO), one of the biggest copper producers in the world, moved above $49.12 extending an intermediate uptrend.

Hudbay Minerals (HBM.TO), a Canadian copper miner moved above Cdn$6.34 extending an intermediate uptrend.

Freeport McMoran (FCX), another major copper producer moved above $17.50 extending an intermediate uptrend. Responding to higher copper prices.

Philip Morris (PM), an S&P 100 stock moved below $$73.45 after reporting third quarter results completing a double top pattern.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for October 20^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for October 20^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 20^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Presidential Cycle

Stockcharts offered a panel of technical experts to discuss the topic. Following is a link:

https://www.youtube.com/watch?v=01N6lB4Nwos&feature=youtu.be&ab_channel=StockCharts

S&P 500 Momentum Barometer

The Barometer added 2.01 to 63.05 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 2.39 to 53.33 yesterday. It remains intermediate neutral.

Disclaimer: Seasonality and technical ratings offered in this report and at

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

This post was originally publised at Vialoux's Tech Talk.

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.