by Don Vialoux, EquityClock.com
Seasonal weakness and greater volatility appears in North American equity markets
S&P 500 Index moved below its 20 day moving average
TSX Index moved below its 20 day moving average.
Dow Jones Industrial Average moved below its 20 day moving average
NASDAQ Composite Index moved below its 50 day moving average.
The VIX Index spiked.
Technical Notes released yesterday at
BHP Group $BHP moved below $84.54 completing a Head & Shoulders pattern. The company announced a major reconstruction of operations.
VALE SA $VALE one of the world’s largest base metals producer moved below $19.62 extending an intermediate downtrend.
Silver Equity ETF $SIL moved below $38.38, $38.22 and $38.10 setting a long term downtrend.
Palladium ETN $PALL moved below $229.16 extending an intermediate downtrend.
Salesforce $CRM a Dow Jones Industrial Average stock moved above $253.50 extending an intermediate uptrend.
TC Energy $TRP.CA a TSX 60 stock moved below $59.33 completing a Head & Shoulders pattern.
CGI Group $GIB a TSX 60 stock moved below US$88.09 completing a Head & Shoulders pattern.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 18th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 18th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 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
Is Zillow the Google of Real Estate?
Thank you to Mark Bunting and www.uncommonsenseinvestor.com for a link to the following comment and video:
This examination of Zillow is the first in a series of monthly, research-based videos we’re considering as a premium service to which we would charge a fair and reasonable amount for access.
After watching the video, please let us know if a premium service would be of interest to you by emailing the address below.
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Market Buzz
Greg Schnell discusses “a deep look into stocks”. Following is a link:
https://www.youtube.com/watch?v=75ncqHyGMcM
Seasonality Chart of the Day
Consumer Staples SPDRs XLP reached their peak of seasonal strength (relative to the S&P 500 Index) on August 18th, Units now enter a period of seasonal weakness to January.14th
On the charts, XLP maintained a positive technical profile until Wednesday: Units remained in an intermediate uptrend, remained above their 20 day moving average and their strength relative to the S&P 500 remained positive. However, short term momentum indicators (Daily Stochastics, RSI, MACD) rolled over from overbought levels yesterday. Traders are encouraged to take profits.
S&P 500 Momentum Barometers
The intermediate term Barometer plunged 6.61 to 56.71 yesterday. It changed from Overbought to Neutral on a move below 60.00 and is trending down.
The long term Barometer dropped 2.20 to 79.56 yesterday. It changed from Extremely Overbought to Overbought on a move below 80.00 and is trending down.
TSX Momentum Barometers
The intermediate term Barometer dropped 3.90 to 44.88 yesterday. It remains Neutral and trending down.
The long term Barometer dropped 2.93 to 65.37 yesterday. It remains Overbought and trending down.
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.
