by Don Vialoux, EquityClock.com
Technical Notes released yesterday at
Dow Jones Industrial Average $DJIA moved below its 20 day moving average at 35,310 yesterday and briefly below its 50 day moving average at 35,023 today. It completes a double to pattern on a move below 34,690.
American Express $AXP a Dow Jones Industrial Average stock moved below $157.33 extending an intermediate downtrend.
While stocks slipped on Tuesday, it was the defensive segments of the market that realized the bulk of the selling pressures. equityclock.com/2021/09/07/… $XLP $XLU $XLRE $IEF $TLT $GLD
Docusign $DOCU a NASDAQ 100 stock moved below $281.28 completing a double top pattern.
T-Mobile $TMUS a NASDAQ 100 stock moved below another intermediate support level at $132.49 extending an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for September 8th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for September 8th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 8th 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 from www.EquityClock.com
The Dow Jones Industrial Average has a history of moving lower between now and the second week in October followed by resumption of an intermediate uptrend.
S&P 500 Momentum Barometers
The intermediate term Barometer was unchanged at 59.72 yesterday. It remains Neutral.
The long term Barometer dropped another 1.80 to 76.95 yesterday. It remains Overbought and trending down.
TSX Momentum Barometers
The intermediate term Barometer dropped 4.46 to 57.43 yesterday. It changed from Overbought to Neutral on a drop below 60.00.
The long term Barometer dropped 2.48 to 71.78 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.
