Technical Notes for yesterday
“Gassy” stocks continue to advance. Advantage Oil and Gas $AAV.TO moved above Cdn$11.75 to a 14 year high extending an intermediate uptrend.
Oil services stocks on both sides of the border continue to move higher. Precision Drilling $PD.TO moved above Cdn$107.67 to a five year high extending an intermediate uptrend.
JD.com $JD a NASDAQ 100 stock moved above intermediate resistance at $63.68
Altria Group $MO an S&P 100 stock moved below $50.60 completing a double top pattern.
Rogers Communications $RCI.B.TO a TSX 60 stock moved below Cdn$62.67 extending an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for June 8th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for June 8th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for June 8th 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
Mark Bunting and www.uncommonsenseinvestor.com offers the following:
Six Reasons for Optimism About the Economy & Stocks – Uncommon Sense Investor
Greg Schnell discusses “Starting principles for analyzing price”.
https://www.youtube.com/watch?v=a1HOQa9A4ks&feature=youtu.be
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 11.90 to 36.60 yesterday. It returned to Oversold from Neutral on a drop below 40.00.
The long term Barometer dropped 3.61 to 34.87 yesterday. It remains Oversold.
TSX Momentum Barometers
The intermediate term Barometer dropped 3.42 to 33.63 yesterday. It remains Oversold.
The long term Barometer slipped 0.71 to 41.26 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.
