by Don Vialoux, Timing the Market
(Editor’s Note: Next Tech Talk report is available on Tuesday May 27th)
Stock Twits Released Yesterday
(Price charts were added )
Nice breakout by $PPLT above 145.18. Seasonal influences are positive until early June.
Five of Canada’s six bank stocks moved to all-time highs this morning. Ditto for $ZEB
Editor’s Note: ZEB is an equally weighted bank ETF based on Canada’s top six banks
Nice breakout by $IBB above 235.84. Seasonal influences are positive until early June
Technical Action by Individual Equities Yesterday
Technical action by S&P 500 stocks was quietly neutral. Six S&P 500 stocks broke resistance (DLTR, HRB, HES, MON, ACT, ABBV) and four stocks broke support (HRL, PDCO, AES, HPQ). Monsanto and Hess broke to six year highs. Hess announced sale of its retail operations. Notable on the downside was Hewlett Packard after announcing major layoffs. Patterson Dental broke through several levels of support.
Technical action by TSX 60 stocks was exceptionally bullish yesterday. Five TSX 60 stocks broke resistance (CM, TD, IMO, CPG, CCT). The Memorial Day holiday trade on Monday for the TSX 60 Index is lining up nicely.
Weekly Technical Review of Select Sector SPDRs
Technology
· Intermediate trend remains up (Score: 1.0)
· Units remain above their 20 day moving average (Score:1.0)
· Strength relative to the S&P 500 Index remains positive (Score: 1.0)
· Technical score based on the above indicators remains at 3.0 out of 3.0.
· Short term momentum indicators are trending up, but are overbought.
Materials
· Intermediate trend remains up
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index remains positive
· Technical score remains at 3.0 out of 3.0
· Short term momentum indicators are trending down.
Industrials
· Intermediate trend remains up.
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index changed from positive to neutral
· Technical score slipped to 2.5 from 3.0 out of 3.0
· Short term momentum indicators are trending down.
Consumer Discretionary
· Intermediate trend remains up
· Units moved above their 20 day moving average
· Strength relative to the S&P 500 Index changed from negative to neutral
· Technical score improved to 2.5 from 1.0 out of 3.0
· Short term momentum indicators improved from down to mixed
Financials
· Intermediate trend remains neutral
· Units moved above their 20 day moving average
· Strength relative to the S&P 500 Index remains negative
· Technical score improved to 1.5 from 0.5 out of 3.0.
· Short term momentum indicators are trending down.
Energy
· Intermediate trend remains up.
· Units moved above their 20 day moving average
· Strength relative to the S&P 500 Index remains neutral
· Technical score improved to 2.5 from 1.5 out of 3.0
· Short term momentum indicators are trending down.
Consumer Staples
· Intermediate trend remains up.
· Units remain below their 20 day moving average
· Strength relative to the S&P 500 Index changed from neutral to negative
· Technical score slipped to 1.0 from 1.5 out of 3.0
· Short term momentum indicators are trending down.
Health Care
· Intermediate trend remains down.
· Units remain above their 20 day moving average
· Strength relative to the S&P 500 Index changed from neutral to positive
· Technical score improved to 2.0 from 1.5 out of 3.0
· Short term momentum indicators are trending up, but are overbought
Utilities
· Intermediate trend remains up
· Units remain below their 20 day moving average
· Strength relative to the S&P 500 Index remains negative.
· Technical score remains at 1.0 out of 3.0
· Short term momentum indicators are trending down, but are oversold.
Summary of Weekly Seasonal/Technical Parameters for SPDRs
Key:
Seasonal: Positive, Negative or Neutral on a relative basis applying EquityClock.com charts
Trend: Up, Down or Neutral
Strength relative to the S&P 500 Index: Positive, Negative or Neutral
Momentum based on an average of Stochastics, RSI and MACD: Up, Down or Mixed
Twenty Day Moving Average: Above, Below
Special Free Services available through www.equityclock.com
Equityclock.com is offering free access to a data base showing seasonal studies on individual stocks and sectors. The data base holds seasonality studies on over 1000 big and moderate cap securities and indices. To login, simply go to http://www.equityclock.com/charts/
Following is an example:
FP Trading Desk Headline
FP Trading Desk headline reads, “Don’t get tricked by sell in May”. Following is a link:
http://business.financialpost.com/2014/05/22/dont-get-tricked-by-sell-in-may/
Disclaimer: Comments, charts and opinions offered in this report by www.timingthemarket.ca and 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. Don and Jon Vialoux are Research Analysts with Horizons ETFs Management (Canada) Inc. All of the views expressed herein are the personal views of the authors and are not necessarily the views of Horizons ETFs Management (Canada) Inc., although any of the recommendations found herein may be reflected in positions or transactions in the various client portfolios managed by Horizons ETFs Management (Canada) Inc.
Horizons Seasonal Rotation ETF HAC May 22nd 2014
Copyright © Don Vialoux, Jon Vialoux, Brooke Thackray
