News & Commentary

Latest News & Daily Commentary

Darden Restaurants Inc. (DRI)

Darden Restaurants (DRI) shares staged a major breakout yesterday, blasting through $92.50 to complete a bullish Ascending Triangle and to signal the start of a new advance. Next potential upside resistance appears near $107.50. Initial support appears in the $90.00 to $92.50 area between a round number and the recent breakout point.

Sector Scopes Update & iShares US Regional Banks ETF (IAT)

It has been a mixed week for technical action across asset classes. The signs of stabilization in equity markets that had emerged last week have evaporated this week with signs emerging of a deepening and broadening correction. In this week’s issue of Equity Leaders Weekly, we look at what deteriorating technicals in the sector scopes charts and the US Regional Banks are telling us about investor sentiment.

Metro Inc. (MRU.TO)

Grocer Metro Inc. (MRU.TO) spent much of 2020 to date in consolidation mode, although higher lows indicated continued underlying accumulation, and bullish Triple Top and Spread Double Top breakouts remained active. This month, accumulation has accelerated with the shares completing a bullish ascending triangle pattern, completing a consolidation phase, and signaling the start of a new advance.

Twitter Inc. (TWTR)

Earlier this month, Twitter (TWTR) staged a 12% correction following a 38% advance, which was slightly less than a common 38% retracement. In the last few days, the shares have turned back upward and appear to be resuming the uptrend which started back in March. A breakout over $44.00 would complete a bullish double top pattern and signal the start of a new upleg with next potential upside resistance tests near $45.80.

Zoom Video Communications Inc. (ZM)

Through 2020, Zoom Video Communications (ZM) shares have been under steady accumulation, advancing in a rising channel of higher highs and higher lows. Earlier this month, the shares staged a correction which was contained within a previous gap and the channel. Since establishing support near $345 the primary uptrend has resumed and yesterday the shares staged a major breakout, clearing $475 to trade at a new all-time high.

Canada Goose (GOOS.TO)

A long-term downtrend in parka producer Canada Goose (GOOS.TO) bottomed out in a 3-day Morning Star candlestick pattern back in March. For the last six months, the shares have been base building, with higher lows below $35.00 forming a bullish Ascending Triangle pattern.
GOOS.TO staged a major breakout on Friday, blasting through $35.00 (which reverses polarity to become initial support), and rallying up through $38.50. Next potential upside resistance appears near $45.00 based on a measured move, followed by the $50.00 round number on trend.

WestRock Company (WRK)

Packaging producer WestRock (WRK) shares staged a major breakout yesterday, blasting through $35.00 which reverses polarity to become initial support, and snapping a long-term downtrend line. With accumulation accelerating, next potential resistance tests appear near $42.75 and $45.00 based on previous highs, then $46.00 based on a measured move and the $50.00 round number.

Sector Scope Update & iShares Residential Real Estate Capped ETF (REZ)

The equity market correction which unfolded in some high momentum stocks in the early part of September appears to have run its course for now. The worst of the damage appears to have been contained to selected high momentum stocks, mainly in technology and communications, which had become particularly overbought technically by early September. Scheduled news flow, both economic and corporate, is light for the coming week as is common near the end of the quarter between earnings. In this week’s issue of Equity Leaders Weekly, we look at what the sector scopes charts are telling us about investor sentiment toward broad markets and specific sectors and also at the impact of low interest rates on the residential real estate sector.

Delta Air Lines Inc. (DAL)

Since bottoming out in May, Delta Air Lines (DAL) shares have been steadily regaining lost altitude, initially rallying toward $37.50 then establishing support at a higher low near $25.00 before regaining $30.00 again and advancing toward $35.00.
Initial upside resistance appears in the $37.00 to $37.50. A breakthrough there would confirm the start of a new uptrend with next resistance tests after that potentially near $42.50 at the top of an old gap, then $50.00 where a measured move and a round number converge. Initial support appears near $32.50 then $30.00.

The North West Company (NWC.TO)

The North West Company (NWC.TO) has soared 60 spots in the SIA S&P/TSX Composite Index Report climbing from the red zone to the top of the Yellow Neutral Zone, one spot outside of the Green Zone. Since bottoming out in March, shares have been under renewed accumulation. This week, the shares have broken through $31.50 to a new high, signaling the start of a new upleg.

Teck Resources Ltd. (TECK.B.TO)

Base metal miner Teck Resources Ltd. (TECK.B.TO) shares gained 4.8% yesterday and are up 17.0% in the last week. The stock has climbed up to top spot in the Green Favored Zone of the SIA S&P/60 Index Report. Upside resistance may first appear between $19.50 and $20.00 where a measured moved and round number converge, then near $22.75 where previous resistance and a measured move cluster.

Lyondellbasell IND NV (LYB)

Coming out of a spring recovery rally, LyondellBasell (LYB) shares spent the summer trending sideways with higher lows and lower highs forming a symmetrical consolidation triangle. Earlier this month, the shares broke out over $72.50, completing the triangle and signaling a new advance which continued with Friday’s breakout over $74.00.

Leggett & Platt Inc. (LEG)

The bullish trend seen in Bedding and furniture producer Leggett & Platt’s (LEG) shares has recently received positive confirmation from a Golden Cross of the 50-day average back above the 200-day average, and a breakout that filled in an old gap.
Next potential upside resistance appears at previous highs and lows near $47.50 and $53.50 with the $50.00 round number in between them. Initial support appears between $40.00 and $42.00.

Caterpillar Inc. (CAT)

The technical picture for Caterpillar (CAT) continues to improve with a number of recent bullish signals appearing lately, including, the snapping of a long-term downtrend line, breakouts over $145 and $150 to their highest level since early 2018, and a Golden Cross of the 50 and 200 day averages. Next potential upside resistance appears at the previous high near $162, followed by $175 where a round number and measured move converge.

Lumber Continuous Contract (LB.F) & Gasoline Continuous Contract (RB.F)

September has historically been one of the weakest months of the year for equity markets and this month has started with equities hitting some turbulence coming out of a strong August. Between the close on Wednesday September 2, and the close on Tuesday September 8, three trading days, the NASDAQ Composite fell 10.0%, the S&P 500 fall 6.9% and the S&P/TSX Composite slip 3.5%. In this week’s issue of Equity Leaders Weekly, we look at the implications for market sentiment from a recent downturn in the prices of Lumber and Gasoline.

General Motors (GM)

Recent gains in General Motors (GM) shares keep adding to a series of technically bullish developments over the last few months, including the completion of a Quadruple Top base in May and the snapping of a downtrend line in August. Clearing $30.75, the shares completed a bullish Spread Double Top pattern, signaling the start of a new upleg which remains active.

Viacom CBS Inc. CL B (VIAC)

Broadcaster ViacomCBS (VIAC) staged a major breakout on Friday clearing $28.00 to complete a bullish Ascending Triangle. Next potential upside resistance appears in the $34.00 to $35.00 area where a measured move and a round number cluster. Initial support appears at the 200-day average near $26.00.

PVH Corp. (PVH)

Clothing producer has staged a major breakout, blasting through $58.00 to complete a bullish Ascending Triangle base and then driving up through $60.00 toward its 200-day moving average. Next potential resistance appears in the $68.00 to $70.00 range where a measured move, round number and the June high converge. Initial support moves up to the $58.00 breakout point.

Alphabet Inc. – (GOOG)

Alphabet (GOOG) broke out to a new all-time high yesterday, confirming ongoing accumulation and signaling the start of a new advance in an uptrend which started back in March. Next potential upside resistance appears near $1,900 then $2,050 based on measured moves.

Russell 2000 Index (RLS.I) & Soybeans Continuous Contract (S.F)

In this week’s issue of Equity Leaders Weekly, we take a look at recent breakouts for the Russell 2000 and Soybeans as indicators of increasing breadth in equities and commodities.

Albemarle Corp. (ALB)

Specialty chemical producer Albemarle (ALB) shares have been under steady accumulation staging a major breakout on volume yesterday they closed at their highest level since late 2018.
Next potential upside tests appear at previous resistance near $105.00, then the $115.00-$120.00 area.

Advanced Micro Devices (AMD)

A major breakout is underway in Advanced Micro Devices (AMD) which rallied to a new all-time yesterday, completing its second bullish Ascending Triangle pattern of the year and signaling the start of a new upleg. Next potential resistance tests on trend appear near the $100.00 round number, Initial support appears near the $86.00 breakout point, then trend support near $82.00.

Expedia Group Inc. (EXPE)

Building on a recent bullish Spread Double Top breakout, Expedia (EXPE) broke through the $100.00 round number barrier and snapped a 45-degree downtrend line, confirming that a new uptrend is underway. Next potential upside resistance appears in the $116.00 to $120.00 range based on vertical and horizontal counts from the point and figure chart.

Norbord Inc. (OSB.TO)

Norbord Inc. manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers primarily in North America and Europe. The company reported better than expected earnings on August 5th by beating the estimate by 0.18/share which has given the stock increased momentum into this new upleg towards its 2018 highs of $58.92.

Consumer Discretionary ETF (XLY) vs. Consumer Staples ETF (XLP) & High Grade Copper Continuous Contract (HG.F)

In this edition of Equity Leaders Weekly, we look at a comparison point and figure chart of the Select Sector SPDR Consumer Discretionary ETF (XLY) vs. Select Sector SPDR Consumer Staples ETF (XLP), as well as the High Grade Copper Continuous Contract (HG.F).

Qualcomm Inc. (QCOM)

Qualcomm Inc. designs, develops, manufactures, and markets digital communication products worldwide. The company released favorable 3rd quarter financials on July 29th which caused the stock to gap and run above its prior all time high of $100 which was set way back in January 2000.

JDCOM ADS (JD)

Even throughout the broader market selloff, shares of JDCOM ADS (JD) performed quite well relative to the broader markets and was one of the earlier stocks to recover shortly thereafter. Most recently, price gapped and closed above its prior high of $69.17 when the company beat the earnings estimate by $1.09 which was reported on August 17th. Price has yet to come back down and test this newly formed support level.

Adobe Systems Inc. (ADBE)

Adobe Systems Inc. operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Adobe’s shares have been on a tear as of late, breaking out to new all time highs surpassing its old high back in Feb when the Pandemic induced sell off ensued. A new upleg looks to have potentially materialized when it confirmed its breakout point last week.

Agnico Eagle Mines Ltd. (AEM.TO)

After a brief period of relative weakness earlier in the spring, Agnico Eagle Mines had re-entered the Favored Zone of the SIA TSX 60 Index Report on June 30th. Since that time, the stock has had a very nice move from $86.93 to Friday’s close at $104.86 which is a positive 20.6% move while in the favored zone in less than 2 months. It currently remains in the Favored Zone of the SIA TSX 60 report in the #1 spot.

Stella Jones Inc. (SJ.TO)

Stella Jones Inc. which produces, markets, and sells pressure treated wood products in North America saw a surge in their share price on July 27th breaking through prior resistance around $38. After a week of consolidation SJ.TO gaped higher on Wednesday August 5th after reporting earnings of 1.02 beating the estimate of 0.74. Watch for potential near term minor support around the $45 round number.

S&P/TSX Composite Index (TSX.I) & the Select Sector SPDR Financial ETF (XLF)

This week in the Equity Leaders Weekly we take a look at our home market the S&P/TSX Composite Index (TSX.I), as well as a sector ETF from our neighbors to the south with a review of the Select Sector SPDR Financial ETF.

The Michaels Companies Inc. (MIK)

Since hitting a low of $1.00 back on March 18th, shares of MIK have surged 845% to close yesterday at $9.45. A breakout rally carried the shares above prior resistance at $8.68 completing a bullish Spread Double Top pattern and signaling the start of a new upleg.

Royal Caribbean Cruises Ltd. (RCL)

Leisure cruise line operator Royal Caribbean’s (RCL) shares have been on a steady climb since bottoming out this past March. Since the end of May RCL has not dropped below the yellow neutral zone within the SIA S&P 500 Index Report even though the leisure industry as a whole has been under immense pressure due to global travel shutdowns and restrictions.

Sun Life Financial (SLF.TO)

Financial Services provider Sun Life (SLF.TO) recently surged back above $53.50, a price that it has not been above since early March after hitting a low of $35.43 during the Corona Virus sell off. With its bullish SMAX score of 9, SLF.TO is exhibiting near-term strength against the asset classes.

Canadian Tire Corp. (CTC.A.TO)

Retailer Canadian Tire Corp. (CTC.A.TO) has bounced back after reporting a second-quarter loss amid temporary store closures and is looking to breakout over $130 and challenge levels it was at earlier this year in the $140 range.

Nike Inc. (NKE)

Athletic clothing producer Nike (NKE) staged a major breakout yesterday by blasting through the top of a $95-$105 trading range and closing above its prior all time high made last January of $105.62. Next potential measured resistance tests appear near $115 and then the $125 round number.

SPDR S&P Retail ETF & NASDAQ Biotech Index

In this week’s issue of Equity Leaders Weekly, we take a look at the activity US retail stocks is telling us about expectations for the upcoming round of retailer earnings, as well as what could be causing the recent weakness seen in the Biotechnology sector.

Union Pacific (UNP)

A major breakout is underway for railroad company Union Pacific (UNP) with the shares blasting through $190.00 to a new all-time high, completing a bullish Ascending Triangle pattern and signaling the start of a new upleg. Next potential upside resistance appears near the $200 round number.

Magna International (MG.TO)

A big breakout is underway in Auto parts producer Magna (MG.TO) this week with the shares clearing $65.00 and snapping a downtrend line. Next potential upside resistance tests on trend appear near $74.00 then the previous peak near $82.50.

Dow Inc. (DOW)

Chemical producer Dow Inc.’s shares are bumping up against the top of a $39.00 to $45.00 trading range. Higher lows indicate continuing underlying accumulation and a breakout would signal the start of a new upleg. Next potential upside resistance is near the $50.00 round number.

Daily Stock Report – Fedex Corp. (FDX)

Since snapping out of a downtrend in July, Fedex (FDX) shares have continued to steadily advance, driving through previous points of resistance on its way toward $183.50.

Daily Stock Report – Badger Daylighting (BAD.TO)

Building on a recent breakout over $30.00 which completed a bullish Double Top and signaled the start of a new upleg, Badger Daylighting (BAD.TO) has continued to climb, advancing on $36.00.

Dow Jones Transportation Average & USD/CAD

In this week’s issue of Equity Leaders Weekly, we take a look at the implications of recent declines in USDCAD, and at the Dow Jones Transportation Average as an indicator of market breadth.

Daily Stock Report – Mastercard (MA)

MasterCard (MA) staged a major breakout yesterday after spending July in a consolidation phase. The recovery trend has resumed this month with the shares completing a bullish Double Top pattern and advancing on $328.00. Next potential resistance appears at the February peak near the $350.00 round number.

Daily Stock Report – The Mosaic Company (MOS)

Fertilizer producer The Mosaic Company (MOS) gapped up yesterday after reporting earnings and confirmed the completion of an Ascending Triangle base. With the start of a new uptrend and the $14.00 breakout point becoming new support, shares have rallied to test their 200-day average near $15.75.

Daily Stock Report – Texas Instruments (TXN)

Since bottoming out in March, Texas Instruments (TXN) has completed a bullish double top pattern and has broken out to a new all-time high confirming that its underlying accumulation trend has resumed.

Daily Stock Report – Celestica (CLS.TO)

Celestica (CLS.TO) has staged a double breakout this week, first clearing $10.25 to complete a bullish Ascending Triangle pattern, and then clearing $11.00 to snap out of a long-term downtrend.

Gold & Russell 2000 Index

Although major central banks did not introduce any new money at their meetings this past month, they all indicated support towards continuing their current asset purchase programs if needed. In this week’s issue of Equity Leaders Weekly, we look at the recent breakout of Gold to new all time highs and recent gains in the Russell 2000 Index.

Daily Stock Report – Gap Inc. (GPS)

Gap (GPS) shares staged a major breakout yesterday, blasting through the top of a $10.00 to $14.00 trading range and also completing a bullish Ascending Triangle pattern.

Daily Stock Report – Intertape Polymer Group Inc. (ITP.TO)

Accumulation in Intertape Polymer Group (ITP.TO) has accelerated this month with the shares blasting up out of a symmetrical consolidation triangle, completing a bullish Triple Top and snapping out of a long-term downtrend.

Daily Stock Report – Weyerhauser (WY)

US forest products giant Weyerhauser (WY) has been trending back upward since March, with breakouts over $25.00 and the 50-day average. Next potential resistance appears between the $30.00 round number and the previous high near $31.00.

SIACharts featured in Wealth Professional Magazine

Wealth Professional magazine’s recent interview with SIACharts and President Paul Kornfeld.

Daily Stock Report – Interfor (IFP.TO)

Forest products producer Interfor (IFP.TO) shares recently snapped a long-term downtrend and established higher support near $14.00. Shares continue to climb toward the top of the Green Favored Zone in the SIA S&P/TSX Composite Index report.

Daily Stock Report – Whirlpool Corp (WHR)

Whirlpool (WHR) shares have been steadily rebounding since March and continue to climb this week, breaking out over $150 and snapping a long-term downtrend resistance line.

SIACharts Equity Leaders Weekly

In this week’s issue of Equity Leaders Weekly, we look at this week’s Silver price rally and recent gains in the Canadian S&P/TSX Index.

Daily Stock Report – Advanced Micro Devices Inc. (AMD)

A major breakout is underway in Advanced Micro Devices (AMD) this week with the shares blasting through the top of a $48.00 to $60.00 trading range to a new all-time high.

Daily Stock Report – Abiomed (ABMD)

Since bottoming out in March, Abiomed (ABMD) shares have been under strong accumulation, establishing an uptrend of higher lows, advancing from near $130 toward $300 with only one 3-box correction along the way.

Daily Stock Report – Twitter Inc. (TWTR)

Twitter (TWTR) shares staged a major breakout yesterday, clearing $36.00 and snapping a downtrend resistance line dating back to last September.

Daily Stock Report – PulteGroup Inc. (PHM)

PulteGroup (PHM) staged a major breakout last week clearing $36.90 to complete a bullish Quadruple Top pattern and signaling the start of a new advance. Next potential upside resistance appears in the $46.80 to $48.70 zone.

Daily Stock Report – L Brands Inc. (LB)

L Brands (LB) has resumed its recovery trend following a trading correction. This week, the shares gapped up through their 200-day average and have continued to climb, indicating increased investor interest.

SIACharts Equity Leaders Weekly

It has been another constructive week for equity markets around the world as the breadth of the current recovery continues to expand. Highlighted this week is the S&P 100 Index and the BMO India Equity Index ETF.

Daily Stock Report – Hanesbrands Inc. (HBI)

The recovery trend in Hanesbrands (HBI) continues to accelerate with yesterday’s 14.2% gain which completed a bullish Spread Double Top pattern and signaled the start of a new upleg.

DAILY STOCK REPORT – ALIGN TECHNOLOGY INC. (ALGN)

Since bottoming out in March, shares have been steadily recovering with higher lows on trend and a series of bullish Double Top breakouts indicating renewed accumulation.

DAILY STOCK REPORT – TECK RESOURCES LTD. (TECK.B)

TECK.B resumes recovery trend and completes a bullish Double Top pattern on its way back up above $15.00.

Daily Stock Report – Carrier Global Corp. (CARR)

Carrier Global Corp. shares bottomed out near $13.00, and since then, they have been under steady accumulation.

Daily Stock Report – Fortinet Inc. (FTNT)

Cybersecurity software producer Fortinet (FTNT) has been a mainstay within the Green Favored Zone of the SIA S&P 500 Index Report since November.

Equity Leaders Weekly – DAX.F and CL.F

DAX Continuous Contract (DAX.F) and Crude Oil Continuous Contract (CL.F)

New Website Released!

SIACharts has released a new website!

SIACharts featured in Wealth Professional Magazine

Wealth Professional magazine’s recent interview with SIACharts and President Paul Kornfeld.

New Website Released!

SIACharts has released a new website!

Darden Restaurants Inc. (DRI)

Darden Restaurants (DRI) shares staged a major breakout yesterday, blasting through $92.50 to complete a bullish Ascending Triangle and to signal the start of a new advance. Next potential upside resistance appears near $107.50. Initial support appears in the $90.00 to $92.50 area between a round number and the recent breakout point.

Metro Inc. (MRU.TO)

Grocer Metro Inc. (MRU.TO) spent much of 2020 to date in consolidation mode, although higher lows indicated continued underlying accumulation, and bullish Triple Top and Spread Double Top breakouts remained active. This month, accumulation has accelerated with the shares completing a bullish ascending triangle pattern, completing a consolidation phase, and signaling the start of a new advance.

Twitter Inc. (TWTR)

Earlier this month, Twitter (TWTR) staged a 12% correction following a 38% advance, which was slightly less than a common 38% retracement. In the last few days, the shares have turned back upward and appear to be resuming the uptrend which started back in March. A breakout over $44.00 would complete a bullish double top pattern and signal the start of a new upleg with next potential upside resistance tests near $45.80.

Zoom Video Communications Inc. (ZM)

Through 2020, Zoom Video Communications (ZM) shares have been under steady accumulation, advancing in a rising channel of higher highs and higher lows. Earlier this month, the shares staged a correction which was contained within a previous gap and the channel. Since establishing support near $345 the primary uptrend has resumed and yesterday the shares staged a major breakout, clearing $475 to trade at a new all-time high.

Canada Goose (GOOS.TO)

A long-term downtrend in parka producer Canada Goose (GOOS.TO) bottomed out in a 3-day Morning Star candlestick pattern back in March. For the last six months, the shares have been base building, with higher lows below $35.00 forming a bullish Ascending Triangle pattern.
GOOS.TO staged a major breakout on Friday, blasting through $35.00 (which reverses polarity to become initial support), and rallying up through $38.50. Next potential upside resistance appears near $45.00 based on a measured move, followed by the $50.00 round number on trend.

WestRock Company (WRK)

Packaging producer WestRock (WRK) shares staged a major breakout yesterday, blasting through $35.00 which reverses polarity to become initial support, and snapping a long-term downtrend line. With accumulation accelerating, next potential resistance tests appear near $42.75 and $45.00 based on previous highs, then $46.00 based on a measured move and the $50.00 round number.

Delta Air Lines Inc. (DAL)

Since bottoming out in May, Delta Air Lines (DAL) shares have been steadily regaining lost altitude, initially rallying toward $37.50 then establishing support at a higher low near $25.00 before regaining $30.00 again and advancing toward $35.00.
Initial upside resistance appears in the $37.00 to $37.50. A breakthrough there would confirm the start of a new uptrend with next resistance tests after that potentially near $42.50 at the top of an old gap, then $50.00 where a measured move and a round number converge. Initial support appears near $32.50 then $30.00.

The North West Company (NWC.TO)

The North West Company (NWC.TO) has soared 60 spots in the SIA S&P/TSX Composite Index Report climbing from the red zone to the top of the Yellow Neutral Zone, one spot outside of the Green Zone. Since bottoming out in March, shares have been under renewed accumulation. This week, the shares have broken through $31.50 to a new high, signaling the start of a new upleg.

Teck Resources Ltd. (TECK.B.TO)

Base metal miner Teck Resources Ltd. (TECK.B.TO) shares gained 4.8% yesterday and are up 17.0% in the last week. The stock has climbed up to top spot in the Green Favored Zone of the SIA S&P/60 Index Report. Upside resistance may first appear between $19.50 and $20.00 where a measured moved and round number converge, then near $22.75 where previous resistance and a measured move cluster.

Lyondellbasell IND NV (LYB)

Coming out of a spring recovery rally, LyondellBasell (LYB) shares spent the summer trending sideways with higher lows and lower highs forming a symmetrical consolidation triangle. Earlier this month, the shares broke out over $72.50, completing the triangle and signaling a new advance which continued with Friday’s breakout over $74.00.

Leggett & Platt Inc. (LEG)

The bullish trend seen in Bedding and furniture producer Leggett & Platt’s (LEG) shares has recently received positive confirmation from a Golden Cross of the 50-day average back above the 200-day average, and a breakout that filled in an old gap.
Next potential upside resistance appears at previous highs and lows near $47.50 and $53.50 with the $50.00 round number in between them. Initial support appears between $40.00 and $42.00.

Caterpillar Inc. (CAT)

The technical picture for Caterpillar (CAT) continues to improve with a number of recent bullish signals appearing lately, including, the snapping of a long-term downtrend line, breakouts over $145 and $150 to their highest level since early 2018, and a Golden Cross of the 50 and 200 day averages. Next potential upside resistance appears at the previous high near $162, followed by $175 where a round number and measured move converge.

General Motors (GM)

Recent gains in General Motors (GM) shares keep adding to a series of technically bullish developments over the last few months, including the completion of a Quadruple Top base in May and the snapping of a downtrend line in August. Clearing $30.75, the shares completed a bullish Spread Double Top pattern, signaling the start of a new upleg which remains active.

Viacom CBS Inc. CL B (VIAC)

Broadcaster ViacomCBS (VIAC) staged a major breakout on Friday clearing $28.00 to complete a bullish Ascending Triangle. Next potential upside resistance appears in the $34.00 to $35.00 area where a measured move and a round number cluster. Initial support appears at the 200-day average near $26.00.

PVH Corp. (PVH)

Clothing producer has staged a major breakout, blasting through $58.00 to complete a bullish Ascending Triangle base and then driving up through $60.00 toward its 200-day moving average. Next potential resistance appears in the $68.00 to $70.00 range where a measured move, round number and the June high converge. Initial support moves up to the $58.00 breakout point.

Alphabet Inc. – (GOOG)

Alphabet (GOOG) broke out to a new all-time high yesterday, confirming ongoing accumulation and signaling the start of a new advance in an uptrend which started back in March. Next potential upside resistance appears near $1,900 then $2,050 based on measured moves.

Albemarle Corp. (ALB)

Specialty chemical producer Albemarle (ALB) shares have been under steady accumulation staging a major breakout on volume yesterday they closed at their highest level since late 2018.
Next potential upside tests appear at previous resistance near $105.00, then the $115.00-$120.00 area.

Advanced Micro Devices (AMD)

A major breakout is underway in Advanced Micro Devices (AMD) which rallied to a new all-time yesterday, completing its second bullish Ascending Triangle pattern of the year and signaling the start of a new upleg. Next potential resistance tests on trend appear near the $100.00 round number, Initial support appears near the $86.00 breakout point, then trend support near $82.00.

Expedia Group Inc. (EXPE)

Building on a recent bullish Spread Double Top breakout, Expedia (EXPE) broke through the $100.00 round number barrier and snapped a 45-degree downtrend line, confirming that a new uptrend is underway. Next potential upside resistance appears in the $116.00 to $120.00 range based on vertical and horizontal counts from the point and figure chart.

Norbord Inc. (OSB.TO)

Norbord Inc. manufactures and sells wood-based panels for retail chains, contractor supply yards, and industrial manufacturers primarily in North America and Europe. The company reported better than expected earnings on August 5th by beating the estimate by 0.18/share which has given the stock increased momentum into this new upleg towards its 2018 highs of $58.92.

Qualcomm Inc. (QCOM)

Qualcomm Inc. designs, develops, manufactures, and markets digital communication products worldwide. The company released favorable 3rd quarter financials on July 29th which caused the stock to gap and run above its prior all time high of $100 which was set way back in January 2000.

JDCOM ADS (JD)

Even throughout the broader market selloff, shares of JDCOM ADS (JD) performed quite well relative to the broader markets and was one of the earlier stocks to recover shortly thereafter. Most recently, price gapped and closed above its prior high of $69.17 when the company beat the earnings estimate by $1.09 which was reported on August 17th. Price has yet to come back down and test this newly formed support level.

Adobe Systems Inc. (ADBE)

Adobe Systems Inc. operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Adobe’s shares have been on a tear as of late, breaking out to new all time highs surpassing its old high back in Feb when the Pandemic induced sell off ensued. A new upleg looks to have potentially materialized when it confirmed its breakout point last week.

Agnico Eagle Mines Ltd. (AEM.TO)

After a brief period of relative weakness earlier in the spring, Agnico Eagle Mines had re-entered the Favored Zone of the SIA TSX 60 Index Report on June 30th. Since that time, the stock has had a very nice move from $86.93 to Friday’s close at $104.86 which is a positive 20.6% move while in the favored zone in less than 2 months. It currently remains in the Favored Zone of the SIA TSX 60 report in the #1 spot.

Stella Jones Inc. (SJ.TO)

Stella Jones Inc. which produces, markets, and sells pressure treated wood products in North America saw a surge in their share price on July 27th breaking through prior resistance around $38. After a week of consolidation SJ.TO gaped higher on Wednesday August 5th after reporting earnings of 1.02 beating the estimate of 0.74. Watch for potential near term minor support around the $45 round number.

The Michaels Companies Inc. (MIK)

Since hitting a low of $1.00 back on March 18th, shares of MIK have surged 845% to close yesterday at $9.45. A breakout rally carried the shares above prior resistance at $8.68 completing a bullish Spread Double Top pattern and signaling the start of a new upleg.

Royal Caribbean Cruises Ltd. (RCL)

Leisure cruise line operator Royal Caribbean’s (RCL) shares have been on a steady climb since bottoming out this past March. Since the end of May RCL has not dropped below the yellow neutral zone within the SIA S&P 500 Index Report even though the leisure industry as a whole has been under immense pressure due to global travel shutdowns and restrictions.

Sun Life Financial (SLF.TO)

Financial Services provider Sun Life (SLF.TO) recently surged back above $53.50, a price that it has not been above since early March after hitting a low of $35.43 during the Corona Virus sell off. With its bullish SMAX score of 9, SLF.TO is exhibiting near-term strength against the asset classes.

Canadian Tire Corp. (CTC.A.TO)

Retailer Canadian Tire Corp. (CTC.A.TO) has bounced back after reporting a second-quarter loss amid temporary store closures and is looking to breakout over $130 and challenge levels it was at earlier this year in the $140 range.

Nike Inc. (NKE)

Athletic clothing producer Nike (NKE) staged a major breakout yesterday by blasting through the top of a $95-$105 trading range and closing above its prior all time high made last January of $105.62. Next potential measured resistance tests appear near $115 and then the $125 round number.

Union Pacific (UNP)

A major breakout is underway for railroad company Union Pacific (UNP) with the shares blasting through $190.00 to a new all-time high, completing a bullish Ascending Triangle pattern and signaling the start of a new upleg. Next potential upside resistance appears near the $200 round number.

Magna International (MG.TO)

A big breakout is underway in Auto parts producer Magna (MG.TO) this week with the shares clearing $65.00 and snapping a downtrend line. Next potential upside resistance tests on trend appear near $74.00 then the previous peak near $82.50.

Dow Inc. (DOW)

Chemical producer Dow Inc.’s shares are bumping up against the top of a $39.00 to $45.00 trading range. Higher lows indicate continuing underlying accumulation and a breakout would signal the start of a new upleg. Next potential upside resistance is near the $50.00 round number.

Daily Stock Report – Fedex Corp. (FDX)

Since snapping out of a downtrend in July, Fedex (FDX) shares have continued to steadily advance, driving through previous points of resistance on its way toward $183.50.

Daily Stock Report – Badger Daylighting (BAD.TO)

Building on a recent breakout over $30.00 which completed a bullish Double Top and signaled the start of a new upleg, Badger Daylighting (BAD.TO) has continued to climb, advancing on $36.00.

Daily Stock Report – Mastercard (MA)

MasterCard (MA) staged a major breakout yesterday after spending July in a consolidation phase. The recovery trend has resumed this month with the shares completing a bullish Double Top pattern and advancing on $328.00. Next potential resistance appears at the February peak near the $350.00 round number.

Daily Stock Report – The Mosaic Company (MOS)

Fertilizer producer The Mosaic Company (MOS) gapped up yesterday after reporting earnings and confirmed the completion of an Ascending Triangle base. With the start of a new uptrend and the $14.00 breakout point becoming new support, shares have rallied to test their 200-day average near $15.75.

Daily Stock Report – Texas Instruments (TXN)

Since bottoming out in March, Texas Instruments (TXN) has completed a bullish double top pattern and has broken out to a new all-time high confirming that its underlying accumulation trend has resumed.

Daily Stock Report – Celestica (CLS.TO)

Celestica (CLS.TO) has staged a double breakout this week, first clearing $10.25 to complete a bullish Ascending Triangle pattern, and then clearing $11.00 to snap out of a long-term downtrend.

Daily Stock Report – Gap Inc. (GPS)

Gap (GPS) shares staged a major breakout yesterday, blasting through the top of a $10.00 to $14.00 trading range and also completing a bullish Ascending Triangle pattern.

Daily Stock Report – Intertape Polymer Group Inc. (ITP.TO)

Accumulation in Intertape Polymer Group (ITP.TO) has accelerated this month with the shares blasting up out of a symmetrical consolidation triangle, completing a bullish Triple Top and snapping out of a long-term downtrend.

Daily Stock Report – Weyerhauser (WY)

US forest products giant Weyerhauser (WY) has been trending back upward since March, with breakouts over $25.00 and the 50-day average. Next potential resistance appears between the $30.00 round number and the previous high near $31.00.

Daily Stock Report – Interfor (IFP.TO)

Forest products producer Interfor (IFP.TO) shares recently snapped a long-term downtrend and established higher support near $14.00. Shares continue to climb toward the top of the Green Favored Zone in the SIA S&P/TSX Composite Index report.

Daily Stock Report – Whirlpool Corp (WHR)

Whirlpool (WHR) shares have been steadily rebounding since March and continue to climb this week, breaking out over $150 and snapping a long-term downtrend resistance line.

Daily Stock Report – Advanced Micro Devices Inc. (AMD)

A major breakout is underway in Advanced Micro Devices (AMD) this week with the shares blasting through the top of a $48.00 to $60.00 trading range to a new all-time high.

Daily Stock Report – Abiomed (ABMD)

Since bottoming out in March, Abiomed (ABMD) shares have been under strong accumulation, establishing an uptrend of higher lows, advancing from near $130 toward $300 with only one 3-box correction along the way.

Daily Stock Report – Twitter Inc. (TWTR)

Twitter (TWTR) shares staged a major breakout yesterday, clearing $36.00 and snapping a downtrend resistance line dating back to last September.

Daily Stock Report – PulteGroup Inc. (PHM)

PulteGroup (PHM) staged a major breakout last week clearing $36.90 to complete a bullish Quadruple Top pattern and signaling the start of a new advance. Next potential upside resistance appears in the $46.80 to $48.70 zone.

Daily Stock Report – L Brands Inc. (LB)

L Brands (LB) has resumed its recovery trend following a trading correction. This week, the shares gapped up through their 200-day average and have continued to climb, indicating increased investor interest.

Daily Stock Report – Hanesbrands Inc. (HBI)

The recovery trend in Hanesbrands (HBI) continues to accelerate with yesterday’s 14.2% gain which completed a bullish Spread Double Top pattern and signaled the start of a new upleg.

DAILY STOCK REPORT – ALIGN TECHNOLOGY INC. (ALGN)

Since bottoming out in March, shares have been steadily recovering with higher lows on trend and a series of bullish Double Top breakouts indicating renewed accumulation.

DAILY STOCK REPORT – TECK RESOURCES LTD. (TECK.B)

TECK.B resumes recovery trend and completes a bullish Double Top pattern on its way back up above $15.00.

Daily Stock Report – Carrier Global Corp. (CARR)

Carrier Global Corp. shares bottomed out near $13.00, and since then, they have been under steady accumulation.

Daily Stock Report – Fortinet Inc. (FTNT)

Cybersecurity software producer Fortinet (FTNT) has been a mainstay within the Green Favored Zone of the SIA S&P 500 Index Report since November.

Sector Scopes Update & iShares US Regional Banks ETF (IAT)

It has been a mixed week for technical action across asset classes. The signs of stabilization in equity markets that had emerged last week have evaporated this week with signs emerging of a deepening and broadening correction. In this week’s issue of Equity Leaders Weekly, we look at what deteriorating technicals in the sector scopes charts and the US Regional Banks are telling us about investor sentiment.

Sector Scope Update & iShares Residential Real Estate Capped ETF (REZ)

The equity market correction which unfolded in some high momentum stocks in the early part of September appears to have run its course for now. The worst of the damage appears to have been contained to selected high momentum stocks, mainly in technology and communications, which had become particularly overbought technically by early September. Scheduled news flow, both economic and corporate, is light for the coming week as is common near the end of the quarter between earnings. In this week’s issue of Equity Leaders Weekly, we look at what the sector scopes charts are telling us about investor sentiment toward broad markets and specific sectors and also at the impact of low interest rates on the residential real estate sector.

Lumber Continuous Contract (LB.F) & Gasoline Continuous Contract (RB.F)

September has historically been one of the weakest months of the year for equity markets and this month has started with equities hitting some turbulence coming out of a strong August. Between the close on Wednesday September 2, and the close on Tuesday September 8, three trading days, the NASDAQ Composite fell 10.0%, the S&P 500 fall 6.9% and the S&P/TSX Composite slip 3.5%. In this week’s issue of Equity Leaders Weekly, we look at the implications for market sentiment from a recent downturn in the prices of Lumber and Gasoline.

Russell 2000 Index (RLS.I) & Soybeans Continuous Contract (S.F)

In this week’s issue of Equity Leaders Weekly, we take a look at recent breakouts for the Russell 2000 and Soybeans as indicators of increasing breadth in equities and commodities.

Consumer Discretionary ETF (XLY) vs. Consumer Staples ETF (XLP) & High Grade Copper Continuous Contract (HG.F)

In this edition of Equity Leaders Weekly, we look at a comparison point and figure chart of the Select Sector SPDR Consumer Discretionary ETF (XLY) vs. Select Sector SPDR Consumer Staples ETF (XLP), as well as the High Grade Copper Continuous Contract (HG.F).

S&P/TSX Composite Index (TSX.I) & the Select Sector SPDR Financial ETF (XLF)

This week in the Equity Leaders Weekly we take a look at our home market the S&P/TSX Composite Index (TSX.I), as well as a sector ETF from our neighbors to the south with a review of the Select Sector SPDR Financial ETF.

SPDR S&P Retail ETF & NASDAQ Biotech Index

In this week’s issue of Equity Leaders Weekly, we take a look at the activity US retail stocks is telling us about expectations for the upcoming round of retailer earnings, as well as what could be causing the recent weakness seen in the Biotechnology sector.

Dow Jones Transportation Average & USD/CAD

In this week’s issue of Equity Leaders Weekly, we take a look at the implications of recent declines in USDCAD, and at the Dow Jones Transportation Average as an indicator of market breadth.

Gold & Russell 2000 Index

Although major central banks did not introduce any new money at their meetings this past month, they all indicated support towards continuing their current asset purchase programs if needed. In this week’s issue of Equity Leaders Weekly, we look at the recent breakout of Gold to new all time highs and recent gains in the Russell 2000 Index.

SIACharts Equity Leaders Weekly

In this week’s issue of Equity Leaders Weekly, we look at this week’s Silver price rally and recent gains in the Canadian S&P/TSX Index.

SIACharts Equity Leaders Weekly

It has been another constructive week for equity markets around the world as the breadth of the current recovery continues to expand. Highlighted this week is the S&P 100 Index and the BMO India Equity Index ETF.

Equity Leaders Weekly – DAX.F and CL.F

DAX Continuous Contract (DAX.F) and Crude Oil Continuous Contract (CL.F)

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