Tech Talk for Thursday November 26th 2020

November 26, 2020

2 minute read

by Don Vialoux, EquityClock.com

Technical Notes for Wednesday November 25^th

NASDAQ Composite Index moved above 12,108.07 to an all-time high extending an intermediate uptrend.

Canadian forest product stocks continue moving higher. West Fraser Timber moved above $75.06 extending an intermediate uptrend.

U.S. Oil ETN (USO) moved above $31.19 resuming an intermediate uptrend.

Skyworks (SWKS), a NASDAQ 100 stock moved below $134.36 setting an intermediate downtrend.

Brazil iShares (EWZ) moved above $33.73 resuming an intermediate uptrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for November 25^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for November 25^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 25^th 2020

Green: Increase from previous day

Red: Decrease from previous day

Market Buzz

Greg Schnell “digs into a bull market”. Focus is on Miners and Industrial Metals. ‘Tis the season for the sector to move higher! Following is a link:

https://www.youtube.com/watch?v=CNwyfw6PfJ8&feature=youtu.be&ab_channel=StockCharts

Changes in Seasonality Ratings

Many equity indices, commodities and sectors change their seasonality ratings near the end of November/beginning of December. Following are selected seasonality charts that are changing based on two month forward projections

S&P 500 Momentum Barometer

The Barometer slipped 0.20 to 80.36 yesterday. It remains extremely intermediate overbought.

TSX Momentum Barometer

The Barometer added 0.14 to 69.77 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.