by Don Vialoux, EquityClock.com
Technical Notes for August 13th
Cisco (CSCO), a Dow Jones Industrial Average stock moved below $43.30 completing a double top pattern. The company lowered fiscal first quarter guidance.
Micron (MU), a NASDAQ 100 stock moved below $47.10 setting an intermediate downtrend.
The stock was downgraded by Deutsche Bank from Buy to Hold. Target price was reduced from $48 to $40.
KLA Tencor (KLAC), a NASDAQ 100 stock moved above $209.30 to an all-time high extending an intermediate uptrend.
Nikkei Average moved above 23,185.85 to 23,249.61 yesterday extending an intermediate uptrend.
Trader’s Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for August 13th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for August 13th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 13th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer slipped 3.01 to 79.16 yesterday. It changed from extremely intermediate overbought to intermediate overbought on a drop below 80.00.
TSX Momentum Barometer
The Barometer added 0.69 to 78.20 yesterday. It remains intermediate overbought.
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
