by Don Vialoux, EquityClock.com
Technical Notes released yesterday at
Editor’s Note: U.S. equity indices recorded s stunning reversal yesterday. The S&P 500 realized a 6.8% gain from its opening low to its high at the close.
U.S. Dollar Index ETN $UUP moved above $26.07 extending an intermediate uptrend.
Canadian Dollar $CDW moved below intermediate support at US78.15 cents.
Major benchmarks are breaking levels of significant support, risking an expansion of the downfall of the equity market to areas beyond the technology sector. equityclock.com/2022/02/23/… $RSP $SPXEW $NYA $SPX $SPY $ES_F
Euro $XEU moved below 111.25 extending an intermediate downtrend.
Gold SPDRs $GLD moved above $178.85 extending an intermediate uptrend.
Sector SPDRs that broke support setting an intermediate downtrend included $XLK $XLB $XLP $XLV
Editor’s Note: All reversed by the end of the day.
U.S. financial service equities and related ETFs are the hardest hit sector. Financial SPDRs $XLF moved below $36.82 completing a Head & Shoulders pattern.
Industry ETFs breaking support setting intermediate downtrends included $IHF$TAN $IHI $CARZ $WOOD
Editor’s Note: All reversed by end of the trading day, notably TAN
International equity ETFs trading in U.S. Dollars moving below support setting intermediate downtrends included: $EWI $EWY $EEM $FXI $IEV $EWT $EIS $PIN
Editor’s Note: International equity indices and related ETFs also recovered but their recovery was less impressive.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Feb.24th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Feb.24th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Feb.24th 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
Links from Mark Bunting and www.uncommonsenseinvestor.com
Four Companies with Pricing Power – YouTube
Volatility & Lower Prices Present Opportunity for Long-Term Investors – Uncommon Sense Investor
S&P 500 Momentum Barometers
The intermediate term Barometer dropped another 1.80 to 24.25 yesterday. It remains Oversold, but has yet to show signs of bottoming.
The long term Barometer added 0.20 to 37.27 yesterday. It remains Oversold.
TSX Momentum Barometers
The intermediate term Barometer added 2.45 to 50.66 yesterday. It remains Neutral.
The long term Barometer added 0.18 to 53.30 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.
