Technical Notes for yesterday
Editor’s Note: North American equity markets opened strongly lower yesterday after the release of a “hotter than expected” September CPI report. By 10:00 AM EDT, indices entered into a spectacular “outside reversal”, a technically bullish event that is occurring when equity indices are extremely oversold. The following notes show the technical breakdowns recorded by indices, ETFs and individual equities prior to the reversal:
Dow Jones Industrial Average briefly dropped below 28,715.85 touching a two year low.
TSX Composite Index briefly dropped below $10,169.86 touching a 21 month low.
Selected ETFs briefly dropped below intermediate support: XLF, XLV, EZU, EWY, EWI, EFA, EZA, PIN, DIA, RSP, IEV, IWM, IAI, IHI, KBE, IYT, PHO, IHI, ZEM.TO
Selected S&P 100 stocks briefly dropped below intermediate support: AXP, BAC, BRK.B, IBM, MA, V, DOW, LOW
Selected NASDAQ 100 stocks briefly dropped below intermediate support: FAST, BIDU, CDW, EBAY, FISV, GOOG, MELI, NXPI, VRSN, TMUS, IDXX
Selected TSX 60 stocks dropped below intermediate support: NA, MFC, RY, CNR, GIB.A, CSU
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for October 13th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for October 13th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for October 13th 2021
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Repeat of Larry Williams’ video entitled “Up, up and away”
Up, Up & Away | Larry Williams Special Presentation (10.12.22) – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 6.80 to 17.60 yesterday. It remains Oversold. It also showed more evidence of recovering from a bottom.
The long term Barometer added 2.40 to 18.80 yesterday. It remains Oversold. It also showed more evidence of recovering from a bottom.
TSX Momentum Barometers
The intermediate term Barometer added 3.39 to 30.08 yesterday. It remains Oversold, but shows short term signs of recovery.
The long term Barometer added 2.54 to 26.27 yesterday. It remains Oversold, but shows short term signs of recovery.
Disclaimer: Seasonality ratings 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
