Tech Talk for Wednesday March 23rd 2022

by Don Vialoux, EquityClock.com

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

The performance of the NASDAQ 100 relative to the S&P 500 Index has shed the “froth” that was derived during the pandemic and retraced back to its long-term rising range. equityclock.com/2022/03/21/… $NDX $QQQ $XLK $STUDY

clip_image001

Base metals iShares $PICK moved above $50.28 expanding an intermediate uptrend.

clip_image002

Industrial SPDRs $XLI moved above $102.71 extending an intermediate uptrend.

clip_image003

Amazon. $AMZN an S&P 100 stock moved above $3,276.69 completing a double bottom pattern. Seasonal influences are favourable to June 17th . If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/amazon-com-inc-nasdaqamzn-seasonal-chart

clip_image004

Tesla $TSLA a NASDAQ 100 stock moved above $942.77 extending an intermediate uptrend.

clip_image005

Editor’s Note: Amazon.com and Tesla are 40% of Consumer Discretionary SPDRs (XLY).

Apple $AAPL an S&P 100 stock moved above intermediate resistance at $168.91.

clip_image006

Nvidia $NVDA a NASDAQ 100 stock moved above $50.28 setting an intermediate uptrend.

clip_image007

ASML $ASML moved above intermediate resistance at $691.24.

clip_image008

Canadian National Railway $CNR.CA a TSX 60 stock moved above $167.26 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable to May 30th. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/canadian-national-railway-company-tsecnr-seasonal-chart

clip_image009

Natural gas ETN $HUN.TO moved above Cdn$14.00 extending an intermediate uptrend.

clip_image010

Canadian "gassy" stocks such as Birchcliffe Energy $BIR.CA are responding to higher North American natural gas prices. Nice breakout by Birchcliffe above Cdn.$7.33! Seasonal influences for the sector are favourable to earlyJune. If a subscriber to EquityClock, see seasonality chart at

https://charts.equityclock.com/birchcliff-energy-tsebir-seasonal-chart

clip_image011

Open Text $OTEX a TSX 60 stock moved above US$43.36 completing a double bottom pattern.

clip_image012

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 22nd 2022

clip_image014

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for March 22nd 2022

clip_image016

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for March 22nd 2021

clip_image018

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)

 

S&P 500 Momentum Barometers

clip_image019

The intermediate term Barometer added 3.61 to 57.92 yesterday. It remains Neutral. Trend remains up.

clip_image020

The long term Barometer added 2.20 to 52.10 yesterday. It remains Neutral. Trend remains up.

 

TSX Momentum Barometers

clip_image021

The intermediate term Barometer added 2.05 to 76.19 yesterday. It remains Overbought. Trend remains up.

clip_image022

The long term Barometer slipped 0.14 to 66.67 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.

Total
0
Shares
Previous Article

Supply Chains Can't Catch a Break

Next Article

What About the Russian Generals?

Related Posts
Subscribe to AdvisorAnalyst.com notifications
Watch. Listen. Read. Raise your average.