Technical Notes for yesterday
Gold and silver stocks are advancing on higher gold and silver prices. A short term double bottom pattern was completed by First Majestic $FR.TO on a move above Cdn$10.94.
Israel iShares $EIS moved above $65.84 completing a double bottom pattern.
Incyte $INCY a NASDAQ 100 stock moved below $72.35 setting an intermediate downtrend.
Advanced Micro Devices $AMD a NASDAQ 100 stock moved above $104.22 extending an intermediate uptrend.
T-Mobile $TMUS a NASDAQ 100 stock moved above $135.15 extending an intermediate uptrend.
Monster Beverages $MNST a NASDAQ 100 stock moved above $90.24 extending an intermediate uptrend.
Teck Resources a TSX 60 stock $TECK $TECK.B.TO moved above U.S. $44.93 and advanced above Cdn$56.67 to an all-time high extending an intermediate uptrend.
Commerce Bank $CM.TO a TSX 60 stock moved above Cdn$70.76 completing a short term double bottom pattern.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for June 2nd 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for June 2nd 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 2nd 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 a Valued Provider
Larry Williams discusses “Where do we go from here and will this rally last”?
S&P 500 Momentum Barometers
The intermediate term Barometer advanced 11.22 to 44.69 yesterday. It returned to Neutral from Oversold on a recovery above 40.00.
The long term Barometer added 2.40 to 37.07 yesterday. It remains Oversold.
TSX Momentum Barometers
The intermediate term Barometer advanced 11.06 to 42.92 yesterday. It changed to Neutral from Oversold on a move above 40.00. Trend is up.
The long term Barometer added 5.75 to 45.13 yesterday. It changed to Neutral from Oversold on a move above 40.00. Trend is up.
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.
