by Don Vialoux, EquityClock.com
Technical Notes released yesterday at
Consumer Discretionary SPDRs $XLY moved below $189.90 completing a double top pattern. .
Latin America equity markets/ETFs such as $ILF recently have moved above base building patterns. Nice breakout by Brazil iShares $EWZ above $29.10 completing a double bottom pattern! Seasonal influences are favourable until early March. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/ishares-msci-brazil-capped-etf-nyseewz-seasonal-chart
Silver stocks and related equity ETFs $SIL are responding to higher silver prices. Silver bullion iShares $SVR.CA moved above $11.76. Notably stronger this morning is Hecla Mining $HL on a breakout above $5.38. Seasonal influences for Hecla and silver equities/ETFs are favourable until at least the end of February and frequently to May. If a subscriber to EquityClock, see seasonality chart on Hecla at https://charts.equityclock.com/hecla-mining-company-nysehl-seasonal-chart
Gold equity ETFs are moving above recent trading ranges setting intermediate uptrends. $GDX moved above $32.08, $GDXJ moved above $42.22. Seasonal influences are favourable to the end of February.
TSX Global Gold iShares $XGD.CA moved above intermediate resistance at Cdn$18.33. Seasonal influences are strongly favourable until late February. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/ishares-sptsx-global-gold-index-etf-tsexgd-to-seasonal-chart
Other precious metals ETNs and futures also are recording impressive gains this morning. Platinum ETN $PPLT moved above $93.56 extending a short term uptrend. Seasonal influences are strongly positive to late February. If a subscriber to EquityClock, see seasonality chart at
https://charts.equityclock.com/etfs-physical-platinum-shares-nysepplt-seasonal-chart
Another precious metals breakout! Palladium ETN $PALL moved above $187.94 extending an intermediate downtrend. Seasonal influences are strongly positive until the end of February. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/etfs-physical-palladium-shares-nysepall-seasonal-chart
Barrick Gold $ABX.CA and $GOLD moved above short term resistance at Cdn$24.25 following news that fourth quarter production exceeded consensus. Seasonal influences are strongly positive to the end of February. If a subscriber to EquityClock, see seasonality chart at
https://charts.equityclock.com/barrick-gold-corp-tseabx-seasonal-chart
Another gold stock breakout! Kinross $K.CA and $KGC a TSX 60 stock moved above US$5.84 setting an intermediate uptrend. Seasonal influences are favourable until late February. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/kinross-gold-corp-nysekgc-seasonal-chart
More gold stock breakouts setting intermediate uptrends! Yamana $YRI.CA moved above Cdn$5.39, Agnico-Eagle $AEM moved above US$53.83 and First Majestic Silver $AG moved above US$11.70
WTI crude oil $WTIC moved above $$85.41 to a seven year high extending an intermediate uptrend. Seasonal influences are favourable to early March and frequently to the end of June. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/crude-oil-futures-cl-seasonal-chart
Saputo $SAP.CA a TSX 60 stock moved below $27.36 extending an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Jan.19th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Jan.19th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Jan.19th 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)
Links offered by valued providers
Thank you to Mark Bunting and www.uncommonsenseinvestor.com for the following links:
Are You Ready If a Crash is Coming? – Uncommon Sense Investor
Six Reasons to Get Less Bullish on Banks – Uncommon Sense Investor
Greg Schnell discusses “Navigating down markets and weakness”
Navigating Down Markets and Weakness | Greg Schnell, CMT | Market Buzz (01.19.22) – YouTube
Greg Schnell asks “Is the market headed for a much bigger pullback”?
JC Parets discusses “Rotating into international markets”.
Rotation To International | JC Parets, CMT | All Star Charts (01.19.22) – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped another 5.81 to 44.69 yesterday. It remains Neutral and trending down.
The long term Barometer slipped another 2.81 to 59.32 yesterday. It changed from Overbought to Neutral on a drop below 60.00 and continues to trend down.
TSX Momentum Barometers
The intermediate term Barometer added 4.37 to 53.24 yesterday. It remains Neutral.
The long term Barometer added 3.11 to 57.41 yesterday. It remains Neutral.
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.