by Don Vialoux, EquityClock.com
Responses to the FOMC decision at 2:00 PM EST yesterday.
The Fed maintained the Fed Fund rate at 0.00%-0.25%, but increased their monthly tapering from $15 billion to $30 billion. End of tapering changed from the end of June to the end of March. The announcement was in line with consensus. Reponses were as follows:
S&P 500 Index ($SPX) moved higher
Editor’s Note: The Index closed 3 points below its all-time closing high.
U.S. Dollar ETN (UUP) moved lower
10 year Treasury Bond Yield was mixed
Industrial commodity prices (GSG) moved slightly higher
Crude oil prices moved higher
Spot Gold and Silver bullion ETNs moved higher
Precious metal stocks and ETFs (GDX) moved higher
U.S. Financials ETFs (KBE) were mixed.
Technical Notes released to 2:00 PM EST yesterday at
Bristol-Myers $BMY an S&P 100 stock moved above intermediate resistance at $60.20.
Platinum ETN $PPLT moved below $84.50 extending an intermediate downtrend.
Silver equities remain under technical pressure partially due to year end tax loss selling. Pan American Silver $PAAS moved below $22.19 extending an intermediate downtrend.
TCOM $TCOM a NASDAQ 100 stock moved below $23.61 extending an intermediate downtrend.
Berkshire Hathaway $BRK.B an S&P 100 stock moved above $295.65 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable to mid-March. If a subscriber to EquityClock, see seasonality chart at :charts.equityclock.com/seas…
Cerner $CERN a NASDAQ 100 stock moved above intermediate resistance at $76.27.
Birchcliffe Energy $BIR.CA a "gassy" Canadian energy stock moved below $6.22 and $6.13 completing a Head & Shoulders pattern.
Technical Notes recorded after 2:00 PM EST Yesterday
Amgen $AMGN an S&P 100 stock moved above $217.43 completing a double bottom pattern.
Cisco $CSCO a Dpw Jones Industrial Average stock moved above $59.87 to an all-time high extending an intermediate uptrend. Seasonal influences are strongly favourable to mid-January. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/cisco-systems-inc-nasdaqcsco-seasonal-chart
Incyte $INCY a NASDAQ 100 stock moved above $71.85 completing a base building pattern. Season influences are strongly positive to the end of January. If an EquityClock subscriber, see seasonality chart at: https://charts.equityclock.com/incyte-corp-nasdincy-seasonal-chart
Cognizant $CTSH a NASDAQ 100 stock moved above $82.84 to an all-time high extending an intermediate uptrend. Seasonal influences are strongly positive to the end of February. If a subscriber to EquityClock, see seasonality chart at: https://charts.equityclock.com/cognizant-technology-solutions-corp-nasdaqctsh-seasonal-chart
Eli Lilly $LLY an S&P 100 stock moved above $274.98 to an all-time high extending an intermediate uptrend.
Nutrient $NTR.CA a TSX 60 stock moved above Cdn$91.15 to a multi-year high extending an intermediate uptrend. Seasonal influences are strongly positive to the end of February. If an EquityClock subscriber, see seasonality chart at: https://charts.equityclock.com/nutrien-ltd-tsentr-to-seasonal-chart
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Dec.15th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Dec.15th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Dec.15th 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).
Links offered by valued providers
Thank you to Mark Bunting and www.uncommonsenseinvestor.com for the following link:
Top 10 Analyst-Ranked Dow Jones Stocks – Uncommon Sense Investor
Market Buzz by Greg Schnell
https://www.youtube.com/watch?v=wliA7ztRmu8
The Canadian Technician by Greg Schnell
Two Forces at Play | The Canadian Technician | StockCharts.com
S&P 500 Momentum Barometers
The intermediate term Barometer added 4.21 to 55.11 yesterday. It remains Neutral.
The long term Barometer gained 1.20 to 69.54 yesterday. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 1.70 to 30.73 yesterday. It remains Oversold.
The long term Barometer slipped 0.23 to 50.00 yesterday. It remains Neutral.
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.
