by Don Vialoux, EquityClock.com
Radio interview on “Wolf on Bay Street”
Don Vialoux was interviewed by Wolf on Bay Street about second half 2021 North American equity prospects. The interview can be heard on Corus Radio 640 at 7:00 PM EDT on Saturday.
Technical Notes Released Yesterday at
Days of supply of oil is curling higher, abnormal for the summer season. equityclock.com/2021/08/04/… $CL_F $USO $XLE $XOP #Oil
NASDAQ Composite Index $COMPQ moved above $14,863.65 to an all-time high extending an intermediate uptrend.
eBay $EBAY a NASDAQ 100 stock moved below intermediate support at $67.28
Splunk $SPLK a NASDAQ 100 stock moved above $146.45 completing a reverse Head & Shoulders pattern.
CCL Industries $CCL.B.CA a TSX 60 stock moved above $72.27 to an all-time high extending an intermediate uptrend
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 5th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 5th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 5th 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
Seasonality Chart of the Day
Optimal time to own U.S. Global Jets ETF (Symbol: JETS) on a real and relative basis (relative to the S&P 500 Index) is from August 23rd to December 8th
Intermediate technicals remain bearish: Intermediate trend is down and units trade below their 20, 50 and 200 day moving averages. However, short term technicals including daily Stochastics, RSI and MACD have bottomed and have started to turn up. Units are highly sensitive to news on U.S. COVID infections.
Suggestion: Watch technicals closely for a possible entry point for a seasonal trade if and when intermediate technicals turn positive (most likely in September).
S&P 500 Momentum Barometers
The intermediate Barometer added 2.81 to 56.71 yesterday. It remains Neutral.
The long term Barometer added 0.40 to 83.97 yesterday. It remains Extremely Overbought.
TSX Momentum Barometers
The intermediate Barometer slipped 1.24 to 53.88. It remains Neutral.
The long term Barometer added 0.62 to 73.79 yesterday. It remains 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.
