by Don Vialoux, EquityClock.com
Technical Notes released yesterday at
Shipping volumes in January fell by the most for the first month of the year on record! equityclock.com/2022/02/15/… $MACRO $STUDY $IYT $DJT
Growth in US Industrial Production remains on an upswing, rising by 2.4% (NSA) in January, which is a positive divergence compared to the 0.2% decline that is the norm. Weather had a noticeable influence on the aggregate result. $STUDY $MACRO #Economy #Manufacturing
US Retail Sales dropped by 19.4% (NSA) in January, which is stronger than the 22.2% decline that is average for this first month of the year. Year-over-year comparisons are becoming tougher as the months go by. $STUDY $MACRO #Economy #Consumer #Retail $XRT $RTH
Oil Services ETF $OIH moved above $246.64 completing a long term reverse Head & Shoulders pattern.
Canadian oil service stocks also are stronger. Trican Well Services $TCW.CA moved above $3.68 extending an intermediate uptrend.
Danaher $DHR an S&P 100 stock moved below $264.17 extending an intermediate downtrend.
Shopify $SHOP.CA a TSX 60 stock moved below Cdn$990.00 extending an intermediate downtrend. Responded to lower than consensus quarterly earnings.
Precious metal prices are moving higher. Notably today is the Platinum ETN $PPLT on a move above $99.05 extending an intermediate uptrend
TSX Gold Index iShares $XGD.CA moved above $19.31 extending an intermediate uptrend.
Rogers Communications $RCI.B.CA a TSX 60 stock moved above Cdn$67.05 to an all-time high extending a long term uptrend
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Feb.16th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Feb.16th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Feb.16th 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 from valued providers
Thank you to Mark Bunting and www.uncommoninvestor.com for the following links:
Top Growth at a Reasonable Price Canadian Stocks from Brian Belski – Uncommon Sense Investor
Evaluating the Prospects for Big Tech’s Gang of Six – Uncommon Sense Investor
De-Globalization, Populism & How to Profit From It – Uncommon Sense Investor
Market Buzz
Greg Schnell asks, “Is a rally starting”?
Is A Rally Starting? | Greg Schnell, CMT | Market Buzz (02.16.22) – YouTube
Larry Williams asks, “Will there be a bear market”?
Will There Be A Bear Market? | Larry Williams (02.15.22) – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 1.12 to 41.88 yesterday. It remains Neutral.
The long term Barometer added 1.30 to 52.10 yesterday. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer slipped 0.73 to 64.76 yesterday. It remains Overbought. Trend is up.
The long term Barometer added 1.06 to 60.35 yesterday. It changed from Neutral to Overbought on a move above 60.00. Trend is up.
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.
