by Don Vialoux, EquityClock.com
Technical Notes for yesterday at
US Dollar has turned higher, presenting a headwind to this favoured seasonal trade for the third quarter. equityclock.com/2021/08/09/… $USDX $UUP $USDU $GLD $GDX
Financial SPDRs $XLF moved above $38.45 to an all-time high extending an intermediate uptrend.
BMO Canadian Bank Equal Weight ETF $ZEB.TO moved above $36.75 to an all-time high extending an intermediate uptrend.
Docusign $DOCU a NASDAQ 100 stock moved above $310.51 to an all-time high extending an intermediate uptrend.
Monster Beverages $MNST a NASDAQ 100 stock moved above $99.24 to an all-time high extending an intermediate uptrend.
Kinross Gold $KGC a TSX 60 stock moved below US$5.98 extending an intermediate downtrend
Canadian Pacific $CP.CA a TSX 60 stock moved below $89.16 setting an intermediate downtrend. Responding to its offer to acquire Kansas City Southern at US$300 per share.
Wheaton Precious Metals $WPM a TSX 60 stock moved below US$42.45 setting an intermediate downtrend.
Nutrien $NTR.CA a TSX 60 stock moved above $79.05 to a 6 year high extending an intermediate uptrend. The company reported higher than consensus second quarter results and offered positive guidance.
SNC Lavalin $SNC.CA a TSX 60 stock moved above $33.92 and $34.20 to reach a two year high extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 10th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for August 10th 2021
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
Seasonality Chart of the Day
Nice pop in Nutrien yesterday after announcing better than consensus second quarter results! More importantly, the company offered positive guidance. ‘Tis the season for the stock to move higher on a real and relative basis (relative to the S&P 500 Index) until at least the end of September and frequently to the end of the year!
S&P 500 Momentum Barometers
The intermediate term Barometer added 2.00 to 63.53 yesterday. It remains Overbought.
The long term Barometer added 0.80 to 94.97 yesterday. It remains Extremely Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 2.17 to 53.62 yesterday. It remains Neutral.
The long term Barometer slipped 1.80 to 70.05 yesterday. It remains 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
This post was originally publised at Vialoux's Tech Talk.
