Technical Notes for yesterday
Dow Jones Industrial Average moved above 33,272.34 and Dow Jones Industrial Average SPDRs $DIA moved above $332.04 extending an intermediate uptrend.
Industrial SPDRs $XLI moved above $96.91 extending an intermediate uptrend.
Financial services ETFs led the advance yesterday following release of the July CPI report. $KBE moved above $49.72, $KRE moved above $64.67 and $IAK moved above $84.54 extending intermediate uptrends
Financial services stocks dominated the list of big cap equities moving higher:
American Express $AXP moved above $160.88 extending an intermediate uptrend.
Citigroup $C moved above intermediate resistance at $53.72.
Bank of New York Mellon moved above $440.3 completing a base building pattern
Goldman Sachs moved above intermediate resistance at $345.24
JP Morgan moved above $118.24 completing a reverse Head & Shoulders pattern
MetLife moved above intermediate resistance at $64.67
Dow Chemical $DOW an S&P 100 stock moved above $53.79 completing a reverse Head & Shoulders pattern.
Brookfield Asset Management $BAM.A.TO a TSX 60 stock moved above $65.84 extending an intermediate uptrend.
Manulife Financial $MFC.TO a TSX 60 stock moved above $23.76 completing a double bottom pattern.
Canadian Tire $CTC.A.TO a TSX 60 stock moved above $171.73 extending an intermediate uptrend.
SNC Lavalin $SNC.TO a TSX 60 stock moved above intermediate resistance at $26.07 extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 10th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 10th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 10th 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)
S&P 500 Momentum Barometers
The intermediate term Barometer added 9.60 to 82.40 yesterday. It remains Overbought. Trend remains up.
The long term Barometer added 6.40 to 42.00 yesterday. It changed from Oversold to Neutral on a move above 40.00. Trend remains up.
TSX Momentum Barometers
The intermediate term Barometer added 9.24 to 67.23 yesterday. It changed from Neutral to Overbought on a move above 60.00. Trend remains up.
The long term Barometer added 3.78 to 40.75 yesterday. It changed from Oversold to Neutral on a move above 40.00. Trend remains up.
Disclaimer: Seasonality ratings 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
