Technical Notes for yesterday
NASDAQ Composite Index moved below 10,565.13 extending an intermediate downtrend.
S&P/TSX 60 Index moved below 1,104.88 extending an intermediate downtrend.
TSX Financials iShares $XFN.TO moved below $42.09 extending an intermediate downtrend.
Bank of Montreal $BMO a TSX 60 stock moved below $117.50 extending an intermediate downtrend.
Brookfield Infrastructure $BIP.UN a TSX 60 stock moved below $46.41 extending an intermediate downtrend.
Bausch Health $BHC.TO a TSX 60 stock moved below support at Cdn$9.06 completing a double top pattern.
Netflix $NFLX an S&P 100 stock moved below $214.69 extending an intermediate downtrend.
NASDAQ 100 stocks moving below intermediate support included TCOM, ASML, SNPS, KLAC, ADI and JD.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for October 11th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for October 11th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for October 11th 2021
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Quint Tatro says “People are underestimating how quickly CPI data can fall this year”
People are underestimating how quickly CPI data can fall this year, says Quint Tatro – YouTube
Chart of the Day
Lumber futures recently entered their period of seasonal strength from October 1st to February 5th. Technicals have started to improve. Yesterday, futures moved above their 20 day moving average (Added 2 to score) and strength relative to the S&P 500 Index turned positive from neutral (Add 2 to score). Technical score increased yesterday from -2 to +2. Intermediate trend remains down (Score:-2) and the three daily momentum indicators are trend higher (Score: 2)
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 0.80 to 11.80 yesterday. It remains Oversold.
The long term Barometer added 0.20 to 16.60 yesterday. It remains Oversold.
TSX Momentum Barometers
The intermediate term Barometer plunged 5.08 yesterday. It remains Oversold.
The long term Barometer dropped 2.97 to 21.61 yesterday. It remains Oversold.
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
