Tech Talk for Thursday December 31st 2020

by Don Vialoux, EquityClock.com

 

Next Tech Talk Report

Tomorrow, January 1st, is an official holiday for North American equity markets. Next report is scheduled for release on Monday.

Technical Notes for Wednesday December 30th

U.S. Dollar Index ETN moved below $24.19 to a two year low extending an intermediate downtrend.

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Wheat ETN (WEAT) moved above $6.16 completing a two year base building pattern.

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Starbucks (SBUX), an S&P 100 stock moved above $106.09 to an all-time high extending an intermediate uptrend.

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Visa (V), a Dow Jones Industrial Average stock moved above $217.02 to an all-time high extending an intermediate uptrend.

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Toronto Dominion Bank (TD), a TSX 60 stock moved above $72.50 extending an intermediate uptrend.

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 30th 2020

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 30th 2020

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for December 30th 2020

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Green: Increase from previous day

Red: Decrease from previous day

 

Trade ideas for 2021

Greg Schnell discusses Sector Rotation with a focus on the Materials and Energy sectors. If your are a Canadian investor, you will want to watch this video. Following is a link:

https://www.youtube.com/watch?v=Wa3YFqFOB2o&ab_channel=StockCharts

 

S&P 500 Momentum Barometer

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The Barometer added 1.60 to 82.36 yesterday. It remains extremely intermediate overbought.

 

TSX Momentum Barometer

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The Barometer added 1.62 to 72.561 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.

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