by Don Vialoux, EquityClock.com
Technical Notes for August 31st
Coffee ETN (JJOFF) moved above $1.07 extending an intermediate uptrend.
George Weston (WN), a TSX 60 stock moved below $94.73 setting an intermediate downtrend.
Trader’s Corner
Note the short term downward momentum shift by equity indices! The VIX Index responded accordingly by moving above its 50 day moving average.
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for August 31st 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for August 31st 2020
Red: Decrease from previous day
Green: Increase from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 31st 2020
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
Thank you to David Chapman and www.EnrichedInvesting.com for a link to the following weekly report. Headline reads, “Record march, rising divergences, mania phase, job optimism, daily layoffs, Fed focus, precious correction” Following is the link:
S&P 500 Momentum Barometer
The Barometer dropped 6.01 to 76.35 yesterday. It changed from extremely intermediate overbought to intermediate overbought on a move below 80.00
TSX Momentum Barometer
The Barometer plunged 8.97 to 66.51 yesterday. It remains intermediate overbought, but established an intermediate downtrend.
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
This post was originally publised at Vialoux's Tech Talk.
