by Don Vialoux, EquityClock.com
Responses to the FOMC announcement and Federal Chairman Powell’s news conference
The 2:00 PM EST comment by the Fed confirmed continuation of its asset tapering program until March as anticipated. Comments by Chairman Powell were interpreted as more “hawkish” than anticipated. Responses in selected markets from 2:00 PM to the close at 4:00 PM EST were as follows:
S&P 500 Index moved lower
The U.S. Dollar ETN moved higher
Yield on 10 year Treasuries moved higher
Gold ETN moved lower
Commodity prices moved lower with U.S. Dollar strength
Technical Notes released yesterday at
Pepsico $PEP a NASDAQ 100 stock moved below intermediate support at $166.75
American Express $AXP a Dow Jones Industrial Average stock moved above $176.82 resuming an intermediate uptrend.
Synopsys $SNPS a NASDAQ 100 stock moved below $287.02 extending an intermediate downtrend.
General Electric $GE an S&P 100 stock moved below $88.17 extending an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Jan.26th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Jan.26th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Jan.26th 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)
Market Buzz
Greg Schnell asks ”Gold and Oil: Charts of Strength”? Following is a link:
https://www.youtube.com/watch?v=abpK5e2wDNw
Next Canadian Association for Technical Analysis Meeting
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Event: |
CATA Meeting Jan 27 with Jake Wujastyk from TrendSpider |
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Date/Time: |
Thursday, January 27, 2022, 8:00 PM until 10:00 PM |
For membership information, see cata@canadianata.org
S&P 500 Momentum Barometers
The intermediate term Barometer slipped another 1.40 to 30.26 yesterday. It remains Oversold and trending down.
The long term Barometer dropped another 3.81 to 45.69 yesterday. It remains Neutral and trending down.
TSX Momentum Barometers
The intermediate term Barometer eased 0.45 to 36.65 yesterday. It remains Oversold.
The long term Barometer slipped 1.36 to 47.05 yesterday. It remains Neutral and trending down.
Disclaimer: Seasonality and technical ratings offered in this report and at
www.equityclock.comare 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.
