by Don Vialoux, EquityClock.com
Technical Notes for Thursday March 18th
Canadian National Railway (CNR), a TSX 60 stock moved above $148.27 to an all-time high extending an intermediate uptrend.
Wheat ETN (WEAT) moved below $6.02 completing a double top pattern.
The CRB Index and its related ETN (GLG) was notably weaker yesterday mainly due to the drop in crude oil prices.
The exception among commodities was the price of Palladium.
Investor’s Digest
An interview with Don Vialoux on stock market prospects is released electronically today in Investor’s Digest. Focus is on the outlook for commodities and commodity sensitive stocks. Very timely given the weakness today in commodity prices: an opportunity to accumulate on weakness!
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 18th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 18th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 18th 2021
Green: Increase from previous day
Red: Decrease from previous day
All seasonality ratings are based on performance relative to the S&P 500 Index
S&P 500 Momentum Barometers
The intermediate Barometer dropped 4.01 to 74.95 yesterday. It remains Overbought and is rolling over
The long term Barometer slipped 1.20 to 86.57 yesterday. It remains Extremely Overbought and is rolling over.
TSX Momentum Barometers
The intermediate Barometer dropped 2.84 to 70.62 yesterday. It remains Overbought and is rolling over.
The long term Barometer dropped 2.37 to 78.67 yesterday. It changed from Extremely Overbought to Overbought on a move below 80.00 and is rolling over.
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.
