Vialoux's Tech Talk: June 5, 2014

June 5, 2014

2 minute read

by Don Vialoux, Timing the Market

Jun 05

Interesting Charts

The TSX Composite Index broke above resistance at 14,765.15 to reach a six year high. The Index is testing its all-time high at 15,154.77.

Much of the strength yesterday is attributed to weakness in the Canadian Dollar relative to the U.S. Dollar. The Canuck Buck recorded a short term breakdown following release of the disappointing April Merchandise Trade report and following comments made by the Bank of Canada implying slower than expected economic growth.

Copper is under technical pressure. It broke short term support and its 20 day moving average. Copper has just ended its annual seasonal “sweet spot”.

Selected international equity markets are showing early technical signs of rolling over. They are underperforming the S&P 500 Index and are testing/breaking below their 20 day moving average. Their favourable seasonal influences recently expired.

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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 June 4^th 2014

Author

Don Vialoux, EquityClock.com

Don Vialoux is the author of free daily reports on equity markets, sectors, commodities and Exchange Traded Funds. All of the views expressed herein are his personal views although they may be reflected in positions or transactions in the various client portfolios. Daily reports are available at http://www.timingthemarket.ca.