Tech Talk for Thursday November 12th 2020

November 12, 2020

2 minute read

by Don Vialoux, EquityClock.com

Technical Notes for Wednesday November 11^th

Gold stocks are under technical pressure. Gold iShares (XGD) moved below $21.02 extending an intermediate downtrend. Franco-Nevada, a TSX 60 stock moved below Cdn$175.85 extending an intermediate downtrend. Wheaton Precious Metals (WPM), a TSX 60 stock moved below US$43.89 extending an intermediate downtrend.

Nutrien (NTR), a TSX 60 stock moved above $55.42 extending an intermediate uptrend.

Telus (T), a TSX 60 stock moved above $24.82 resuming an intermediate uptrend.

Cameco (CCO.TO and CCJ), a TSX 60 stock moved above Cdn$13.02 and US$11.80 on news that the U.S. Senate has drafted a proposal to purchase uranium oxide for a reserve.

Canadian Pacific (CP), a TSX 60 stock moved above Cdn$432.27 extending an intermediate uptrend.

Algonquin Power (AQM). A TSX 60 stock moved above $21.62 to an all-time high extending an intermediate uptrend.

Moderna (MRNA), a NASDAQ 100 stock moved above $81.37 after the company indicated plans to release shortly an update on its COVID 19 vaccine.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 11^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 11^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 11^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Market Buzz

Greg Schnell says, “This move is just getting started”. Focus is on the energy sector. Following is a link:

https://www.youtube.com/watch?v=U_-PV_Esc8s&feature=youtu.be&ab_channel=StockCharts

S&P 500 Momentum Barometer

The Barometer added another 4.61 to 83.57 yesterday. It changed from intermediate overbought to extremely intermediate overbought on a move above 80.00.

TSX Momentum Barometer

The Barometer added 0.80 to 69.81 yesterday. It remains intermediate overbought.

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.