Tech Talk for Tuesday May 14th 2019
U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points in pre-opening trade.
Coca Cola added $0.42 to $48.47after Morgan Stanley upgraded the stock to Overweight from Equal Weight. Target was increased to $55 from $52.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/05/clip_image0011-4.png "clip_image001[1]")
Deere (DE $146.28) is expected to open lower after JP Morgan downgraded the stock to Underweight from Neutral.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/05/clip_image0021-5.png "clip_image002[1]")
Tyson Foods added $0.93 to $80.50 after Credit Suisse upgraded the stock to Outperform from Neutral.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/05/clip_image0031-4.png "clip_image003[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/05/13/stock-market-outlook-for-may-14-2019/
Note seasonality charts on Gold and Bitcoin.
Observation
The VIX Index spiked on growing trade war fears between China and the U.S.
Related South East country ETFs were collateral damage. EWH and EWJ moved below support.
StockTwits released yesterday @EquityClock
Technical action by S&P 500 stocks to 10:00: Bearish. Breakouts: $CME $XEL $DTE. Breakdowns: $HBI $KSS $BK $GWW $KEYS $WHR $SWKS $RL $TXT
Auto ETF $CARZ moved below support at $32.53
Fertilizer ETF $SOIL completed a double top pattern on a move below $9.11.
BMO Equal Weight Global Base Metals ETF $ZMT.CA moved below support at 43.45.
Teck Resources $TECK $TECK.B.CA, a TSX 60 stock moved below support at $21.26 U.S. and $28.28 Cdn.
Frontier iShares $FM moved below $27.95 completing a double top pattern.
Finning International $FTT.CA moved below $22.44 extending an intermediate downtrend.
Retail SPDRs $XRT moved below $43.25 completing a double top pattern.
Dow Jones Industrial Average $INDU $DIA moved below its 200 day moving average at 25,423.02
Energy SPDRs $XLE moved below support at $62.81.
Technical action by S&P 500 stocks from 10:00 AM to 1:00 PM: Bearish. Breakout: $CMS. Breakdowns: $DLTR $WBA $HAL $A $ITW $NLSN $FTNT
Editor's Note: WBA is a Dow Jones Industrial stock
Europe iShares $IEV moved below $43.00 completing a double top pattern.
Husky Energy $HSE.CA, a TSX 60 stock moved below $13.21 extending an intermediate downtrend.
U.S. Utilities surged on lower U.S longer term interest rates $AEP $NEE $PNW $CMS $XLU
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for May 13th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for May 13th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for May 13th 2019
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
Link to David Chapman's weekly report compliments of www.EnrichedInvesting.com
S&P 500 Momentum Barometer
The Barometer plunged 20.00 to 36.60 yesterday. It changed to intermediate oversold from intermediate neutral on a move below 40, but continues to trend down.
TSX Momentum Barometer
The Barometer added 1.26 to 44.54 yesterday. It remains intermediate neutral and trending down.
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
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