by Don Vialoux, EquityClock.com
Technical Notes released yesterday at
Canadian Dollar briefly moved above US80.32 cents completing a bottoming pattern. ‘Tis the season for the Canadian Dollar to move higher relative to the U.S. Dollar from mid-March to mid-July and frequently to mid-October!
Lululemon $LULU a NASDAQ 100 stock moved above $353.62 extending an intermediate uptrend. Seasonal influences are favourable to June 5th. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/lululemon-athletica-inc-nasdaqlulu-seasonal-chart
While a number of points on the yield curve are inverting, typically you need to see broad participation in the flattening of the curve for it to be an accurate predictor of a recession in the year ahead. equityclock.com/2022/03/29/… $TNX $TYX $STUDY
Amgen $AMGN a NASDAQ 100 stock moved above $242.63 extending an intermediate uptrend.
NextEra $NEE an S&P 100 stock moved above $85.40 extending an intermediate uptrend.
Intuitive Surgical $ISRG a NASDAQ 100 stock moved above $304.68 extending an intermediate uptrend.
Merck $MRK a Dow Jones Industrial Average stock moved above $81.83 extending an intermediate uptrend.
Xcel Energy $XEL a NASDAQ 100 stock moved above $72.06 extending an intermediate uptrend. Seasonal influences are favourable to June 26th. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/xcel-energy-inc-nysexel-seasonal-chart
Dow Jones U.S. Railway Index $DJUSRR moved above 3836.16 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable to June 2nd. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/railroad-industry-djusrr-seasonal-chart
Canadian Pacific $CP.CA a TSX 60 stock moved above Cdn$103.88 to an all-time high extending an intermediate uptrend
Rogers Communications $RCI.B.CA a TSX 60 stock moved above $69.53 to an all-time high extending an intermediate uptrend.
Dollarama $DOL.CA a TSX 60 stock moved above $71.07 to an all-time high extending an intermediate high following a 10% dividend increase.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 30th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 30th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 30th 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 from Valued Providers
Comments from Mark Bunting and www.uncommonsenseinvestor.com
Three High Quality, High Volatility Stocks to Consider – Uncommon Sense Investor
Three Reasons Recession Fears Overblown – Uncommon Sense Investor
Market Buzz: Greg Schnell says “20 year trends are breaking”
https://www.youtube.com/watch?v=vZOE-3SfweI
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 6.61 to 69.14 yesterday. It remains Overbought, but shows early technical signs of a possible short term peak.
The long term Barometer dropped 2.61 to 57.92 yesterday. It changed from Overbought to Neutral on a move below 60.00.
TSX Momentum Barometers
The intermediate term Barometer slipped 1.85 to 71.74 yesterday. It remains Overbought and showing early signs of rolling over.
The long term Barometer gained 1.59 to 66.96 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.
