Technical Notes for yesterday
India ETF $PIN moved above $23.99 completing a short term double bottom pattern.
South Korea iShares $EWY moved above intermediate resistance at $68.39.
Amazon $AMZN a NASDAQ 100 stock moved above $2316.60 completing a short term double bottom pattern.
Netflix $NFLX a NASDAQ 100 stock moved above $195.89 completing a short term reverse Head & Shoulders pattern.
FedEx $FDX moved above $222.51 completing a double bottom pattern.
U.S. Oil ETN $USO moved above $87.84 extending an intermediate uptrend.
ARC Resources $ARX.TO moved above $19.60 extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for May 30th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for May 30th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for May 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
El-Erian: The Fed is Going to Have to Decide Between Two Policy Mistakes
https://www.youtube.com/watch?v=-f68-0oA52c
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 6.61 to 39.88 yesterday. It returned to Oversold on a drop below 40.00.
The long term Barometer slipped 1.40 to 37.27 yesterday. It remains Oversold.
TSX Momentum Barometers
The intermediate term Barometer slipped 1.32 to 32.60 yesterday. It remains Oversold.
The long term Barometer eased 3.08 to 38.77 yesterday. It returned to Oversold on a drop below 40.00.
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.
