Tech Talk for Tuesday September 17th 2019
Following is a link:
http://www.equityclock.com/2019/09/16/stock-market-outlook-for-september-17-2019/
Note seasonality charts on Crude Oil Days of Supply and Empire State Manufacturing Survey.
Observations
Commodity prices spiked (primarily energy prices).
StockTwits released yesterday @EquityClock
TSX Energy iShares $XEG.CA moved above $9.17 extending an intermediate uptrend. Other Canadian energy breakouts this morning include $CVE.CA, $ERF.CA
U.S. Natural Gas ETN $UNG moved above $23.33 extending an intermediate uptrend
Arc Resources $ARX.CA, a Canadian "gassy" stock moved above $6.91 completing a base building pattern.
U.S. crude oil ETN $USO moved above$12.63 setting a new higher trading range.
Canadian Natural Resources $CNQ.CA, a TSX 60 stock moved above $36.66 extending an intermediate uptrend
Vietnam ETF $VNM moved above $15.94 setting an intermediate uptrend
ADP $ADP , a NASDAQ 100 stock moved below $157.95 completing a double top pattern.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for September 16th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for September 16th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 16th 2019
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
Headline reads, "Bolton thirteen, oil attack, wiggle high, corrective gold, less inverted, wishful bashing, expected cut"
Thank you to David Chapman and www.EnrichedInvesting.com for the following link:
Josef Schachter on BNNBloomberg's Market Call
Market Comment
https://www.bnnbloomberg.ca/market-call/josef-schachter-s-market-outlook~1780599
Past Picks
https://www.bnnbloomberg.ca/market-call/josef-schachter-s-past-picks~1780600
Top Picks
https://www.bnnbloomberg.ca/market-call/josef-schachter-s-top-picks~1780601
S&P 500 Momentum Barometer
The Barometer surprisingly added 1.00 to 71.80 yesterday despite weakness in broadly based U.S. equity indices. It remains intermediate overbought, but has yet to show signs of peaking.
TSX Momentum Barometer
The Barometer added another 2.59 to 63.79 yesterday. It remains intermediate overbought, but has yet to show signs of peaking.
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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