Tech Talk for Tuesday October 12th 2021

by Don Vialoux, EquityClock.com

Technical Notes released yesterday at

$StockTwits.com@EquityClock

Base Metals ETN $DBB (one third each in copper, zinc and aluminum) moved above $21.82 to an all-time high extending an intermediate uptrend

Base metal stocks are responding to higher base metal prices. Teck Resources $TECK a TSX 60 stock moved above US$27.08 extending an intermediate uptrend.

Aerospace & Defense stocks and related ETFs $ITA and $PPA are moving higher led by Lockheed Martin $LMT on a move above $357.23. Nice short term reverse Head & Shoulders pattern!

Big Bank U.S. stocks and related ETF $KBE are moving higher prior to release of third quarter results starting on Wednesday. KBE moved above $55.60 to an all-time high.

Automobile ETF $CARZ moved above $60.23 setting an intermediate uptrend.

Comcast $CMCSA an S&P 100 stock moved below $53.21 and $54.36 setting an intermediate downtrend.

AT&T $T an S&P 100 stock moved below $26.37 extending an intermediate downtrend.

U.S. Telecommunications iShares $IYZ moved below intermediate support at $32.29. Weakness in $T was a major reason.

Editor’s Note: Weakness in Comcast also was an important contributor

Emerson Electric $EMR an S&P 100 stock moved below $93.25 completing a Head & Shoulders pattern.

Fiserv $FISV a NASDAQ 100 stock moved below $105.48 extending an intermediate downtrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Oct.11^th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for Oct.11^th 021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Oct.11^th 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 (except TSX)

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 2.81 to 38.28 yesterday. It changed from Neutral to Oversold on a move below 40.00.

The long term Barometer dropped 1.80 to 66.33 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.