Tech Talk for Wednesday January 5th 2022

Technical Notes released yesterday at

StockTwits.com@EquityClock

U.S. large cap bank stocks are responding to the jump in U.S. Treasury rates. They benefit from a widening of interest rate spreads. Wells Fargo $WFC moved above $52.36 extending an intermediate uptrend. Bank of New York $BK moved above $$60.48.

American Express $AXP moved above $170.58 resuming an intermediate uptrend.

IBM $IBM a Dow Jones Industrial Average stock moved above intermediate resistance at $137.62. Seasonal influences are favourable until at least mid-February. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/international-business-machines-corp-nyseibm-seasonal-chart

Energy SPDRs $XLE moved above $58.65 extending an intermediate uptrend. Seasonal influences are favourable to at least the end of February and frequently to the end of April. If a subscriber to EquityClock,see seasonality chart at https://charts.equityclock.com/energy-select-sector-spdr-fund-nysexle-seasonal-chart

Exxon Mobil $XOM a Dow Jones Industrial Average stock moved above $65.65 extending an intermediate uptrend. Seasonal influences are favourable to the end of February. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/exxon-mobil-corporation-nysexom-seasonal-chart

Base Metals iShares $PICK moved above $42.83 completing a double bottom pattern

Boeing $BA a Dow Jones Industrial Average stock moved above $212.68 completing a short term double bottom pattern. Seasonal influences are favourable to late February. If a subscriber to EquityClocks, see seasonality chart at https://charts.equityclock.com/the-boeing-company-nyseba-seasonal-chart

Caterpillar $CAT a Dow Jones Industrial Average stock moved above $216.47 resuming an intermediate uptrend. Seasonal influences are favourable to the end of April. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/caterpillar-inc-nysecat-seasonal-chart

PACCAR $PCAR a NASDAQ 100 stock moved above $90.05 extending an intermediate uptrend. Seasonal influences are favourable to the end of April. If an EquityClock subscriber, see seasonality chart at https://charts.equityclock.com/paccar-inc-nasdaqpcar-seasonal-chart

Long term U.S. Government Treasuries iShares $TLT moved below intermediate support at $144.12

Workday $WDAY moved below $258.22 setting an intermediate downtrend.

Tech stocks under pressure. Breakdowns below intermediate support this morning by $TWTR $ZM $CRWD

Another high tech breakdown! Netflix $NFLX a NASDAQ 100 stock moved below $581.74 extending an intermediate downtrend.

DexCom $DXCM a NASDAQ 100 stock moved below $510.49 completing a Head & Shoulders pattern.

Teck Resources $TCK.B.CA a TSX 60 stock moved above Cdn$36.95 extending an intermediate uptrend. Seasonal influences are favourable to April. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/teck-resources-tseteckb-seasonal-chart

Canadian Natural Resources $CNQ.CA a TSX 60 stock moved above Cdn$54.99 extending an intermediate uptrend. Seasonal influences are favourable to at least the end of February and frequently to the end of April. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/canadian-natural-resources-limited-tsecnq-seasonal-chart

Bank of Montreal $BMO.CA a TSX 60 stock moved above $141.37 to an all-time high extending an intermediate uptrend.

Canadian tech stocks also under technical pressure Shopify $SHOP.CA a TSX 60 stock moved below Cdm$1645.00 and $1615.00 setting an intermediate downtrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Jan.4^th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for Jan.4^th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Jan.4^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 added another 5.21 to 78.16 yesterday. It remains Overbought and trending higher.

The long term Barometer added 0.60 to 76.55 yesterday. It remains Overbought and trending higher.

TSX Momentum Barometers

The intermediate term Barometer slipped 2.45 to 53.15 yesterday. It remains Neutral.

The long term Barometer added 2.52 to 62.61 yesterday. It remains Overbought and trending higher.

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