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Tech Talk is a free stock market letter service available at http://TimingTheMarkets.com and http://EquityClock.com written by notable analysts Don and Jon Vialoux. Interested in the methodologies and strategies presented by Tech Talk? The Horizons AlphaPro Seasonal Rotation ETF (trading on the... More
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  • Uncertain International Events Dissipating? 0 comments
    Dec 10, 2010 4:04 AM | about stocks: IRE, AIBYY, ZION, BBT

    Technical Action Yesterday

    Technical action by S&P 500 stocks remains bullish. Another 13 S&P 500 stocks broke resistance (AIG, BB&T Corp., BMC Software, CBS, Capital One, Eastman Kodak, Federated Investors, Fifth Third Bancorp, Janus, Pitney Bowes, Ryder, Stanley Black& Decker and Zion Bancorp) and two stocks broke support (SAIC Corp and Wisconsin Energy). The Up/Down ratio increased from 5.46 to (388/68=) 5.71

    Technical action by TSX Composite stocks was mixed. One TSX stock broke resistance (Taseko Mines) and one stock broke support (Primaris). The Up/Down ratio improved from 4.11 to (145/35=) 4.14.

    Interesting Charts

    Uncertain international events influencing equity markets appear to be dissipating. A good example is the recovery in Ireland’s key bank stocks.

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    Regional bank stocks continued to dominate the list of stocks breaking resistance (e.g. BB&T Bancorp, Fifth Third, Zion)

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    Stocks: IRE, AIBYY, ZION, BBT
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