News & Commentary

Latest News & Daily Commentary

Duke Energy Corp. (DUK)

For the last two years, Duke Energy (DUK) has been under accumulation, steadily advancing in a step pattern of rallies followed by periods of consolidation at higher levels. Each time the shares have broken out to the upside, the previous resistance level has reversed polarity to become new support

Electronic Arts Inc. (EA)

Video game producer Electronic Arts (EA) has been rapidly climbing up the rankings in the SIA NASDAQ 100 Index Report. In recent weeks, EA has moved up out of the red zone, where it has spent most of the last four years, to the top of the Yellow Neutral Zone. Yesterday, it finished in 28th place, up 4 spots on the day and up 22 positions in the last month, it’s highest placing since April of 2020. EA is currently sitting two spots outside of the green zone, where it has not been since August of 2018.

Monster Beverage Corp. (MNST)

Having successfully established support near $72.50, a previous resistance level that reversed polarity, Monster Beverage (MNST) shares have been bouncing back. In recent weeks, the shares have been climbing on increasing volumes, a sign of renewed accumulation.

Dow Jones Transportation Average (DTX.I) & SPDR S&P Retail ETF (XRT)

An up and down week has been quite damaging for equity markets. Two spike rally attempts quickly ran out of gas, causing many indices to fail before reaching Low Pole Warnings and falter short of their previous breakdown points, all signs that point to a “sell the rally” mentality’ are signs of continuing distribution in a bear market. In this issue of Equity Leaders Weekly, we look what breakdowns by transportation stocks and retail stocks are telling us about investor sentiment.

Keyera Corp. (KEY.TO) May 19, 2022

This five-year chart highlights the significance of recent gains for Keyera (KEY.TO) shares. Clearing $32.50 last year overcame a long-term hurdle and the ensuing correction was contained by a higher low near $27.00. In recent months, a bullish Ascending Triangle has been forming, a sign of continuing accumulation that was successfully completed by yesterday’s close.

Organon & Co. (OGN) May 18, 2022

Drugmaker Organon (OGN) which was spun out of Merck last year, has ben trending upward within the SIA S&P 500 Index Report since January. After six months of trending sideways between $28.00 and $38.00, Organon (OGN) has been under accumulation since December, with a series of higher lows building a bullish Ascending Triangle base. Since establishing support at a higher low near $31.50 earlier this month, Organon has been in on an upswing, clearing $36.00 yesterday.

Element Fleet Management (EFN.TO)

After steadily sinking for 18 months, Element Fleet Management (EFN.TO) has rocketed back up the relative strength rankings within the SIA S&P/TSX Composite Index Report in the last few days, returning to the Green Favored Zone for the first time since November of 2020. Yesterday, EFN.TO jumped another 18 positions to 55th place.

Ritchie Bros Auctioneers Inc. – (RBA.TO)

Ritchie Bros (RBA.TO) shares have come under renewed accumulation in the last week, rallying up from support in the mid $60s, snapping a downtrend line, causing a bearish descending triangle pattern to fail, and testing $80 all on an uptick in volume.

Merck & Company Inc. (MRK) May 13, 2022

A major breakout is underway in Merck (MRK) shares this week. Continuing an upswing that started back in the winter, the shares have broken through $90.00 to a new-all time high, with this weeks’ Bullish Engulfing candle indicating continuing accumulation.

The J.M Smucker Company – (SJM) May 12, 2022

Accumulation in JM Smucker (SJM) shares have accelerated since January of 2021 when a rally up through $120 successfully completed a bullish Ascending Triangle pattern and a 3 ½ year period of base building. Since then, the shares have been under consistent accumulation advancing in a Rising Channel of higher highs and higher lows. At the end of last year, the shares broke through their 2016 peak to new all-time highs. A subsequent correction bottomed out at another higher low and the shares have since rebounded.

SIA Comparison Portfolios: Select SPDR Consumer Staples ETF (XLP) vs. Select SPDR Consumer Discretionary ETF (XLY) & Sector Scopes Monthly Update May 2022

It has been another rough week for stock markets as the headwinds from a struggling world economy, high inflation and the prospect of more monetary tightening continued to increase, especially with the US 10-year treasury note yield climbing up above 3.00%. In this issue of Equity Leaders Weekly, we look at the relative performance of the Consumer Staples sector compared with Consumer Discretionary and take our monthly look at Sector Scopes.

NRG Energy Inc. (NRG) May 11, 2022

NRG Energy (NRG) has attracted significant new interest in the last few day, blasting up off of a successful retest of $36.00 support, gapping up through its 50-day moving average and snapping a downtrend line that had been emerging since September, all on a big spike in volume.

Newell Rubbermaid Inc. (NWL)

Household products/staples producer Newell Rubbermaid (NWL) was the top performer in the SIA S&P 500 Index Report yesterday, soaring 7.9% on a day that the index plunged 3.2%. With this rally, NWL returned to the Green Favored Zone for the first time since March, finishing in 111th place, up 105 positions on the day and up 176 places in the last month.

Albemarle Corp. (ALB) May 9, 2022

Albemarle (ALB) staged a decisive breakout last week. Rallying up off of a higher low, the shares staged two breakaway gaps to the upside followed by a Bullish Engulfing Day. Along the way, the shares snapped a downtrend line and completed a bullish Ascending Triangle pattern with a breakout over $225, which may reverse polarity to become initial support.

Westrock Company (WRK)

Westrock (WRK) shares staged a major breakout yesterday which completed the second bullish Ascending Triangle pattern of the current recovery trend which started with a successful retest of $40.00 support back in March. A big surge in volume when the shares first started to recover, and a smaller increase in volume as the shares rallied in the face of a falling market yesterday indicate increasing investor interest and accumulation.

Phillips 66 (PSX) May 5, 2022

A major breakout is underway in Phillips 66 (PSX) shares this week. One of a relatively small number of stocks yet to regain their pre 2020 Market Crash highs, the shares have been building a base for recovery below $90.00 for the last year and a half. This week, PSX has broken out over $90.00 to trade at its highest level since January of 2020, completing a bullish Ascending Triangle base and also breaking out of the $62.50 to $90.00 range that prevailed over the last year, both combining to signal the start of a new advance.

Russell 2000 Index (RLS.I) & Natural Gas Continuous Contract (NG.F)

The last week has been a very mixed one for stock markets which plunged into the end of April, then rebounded into the first days of May. Gains accelerated late Wednesday after Fed Chair Powell indicated that rate hikes of 0.50% per meeting remain possible at upcoming meetings but further acceleration to 0.75% or more is not currently under consideration. In this issue of Equity Leaders Weekly, we look at recent strength in the price of natural gas and at what the Russell 2000 Index is telling us about market breadth and sentiment.

Mohawk Industries Inc. (MHK)

A major turnaround is underway in Mohawk Industries (MHK) shares. Since peaking nearly a year ago, the shares had been under distribution, falling from near $230.00 toward $120.00 where support finally emerged over the last couple of months. Last week, new investor interest arrived in a big way with the shares staging a breakaway gap upward on a spike in volume. Following a retest of $140.00 as new higher support, MHK has continued its upward course this week.

Capital Power Corp (CPX.TO)

With investors turning toward traditionally defensive sectors such as electric utilities, Capital Power (CPX.TO) has been attracting renewed interest. Over the last few weeks, Capital Power has quickly climbed back up the rankings in the SIA S&P/TSX Composite Index Report, snapping out of a downtrend and rising from the red zone back up into the Green Favored Zone for the first time since September.

Pinduoduo Inc. (PDD) May 2, 2022

Pinduoduo (PDD) shares appear to be turning the corner. It appears that a year-long downtrend finally bottomed out in March in a big selling climax and final flush of weak hands when the shares gapped down for a couple of days and then gapped back up all on massive volume for the stock, which looks like a textbook bullish Island Bottom.

Waste Management Inc. (WM) April 29, 2022

Waste Management (WM) shares moved into the green favored zone for the first time since March of 2020. Looking at the weekly candlestick chart the shares have successfully tested the 200 and 50 day simple moving averages on increased volume.

Cenovus Energy Inc. (CVE.TO) April 28, 2022

Cenovus Energy reported yesterday a more than seven-fold jump in quarterly profit that surpassed analyst estimates. They also announced they are nearly tripling their dividend from its base $0.14 to $0.42 per share annually beginning in the second quarter. Cenovus bought rival Husky Energy last year to create Canada’s second largest oil and gas producer and saw its net earnings rise to $1.63B or $0.81 per share, up from $220M last year. The company has also reduced its net debt and increased its 2022 capital expenditure forecast by $220M.

High Grade Copper Continuous Contract (HG.F) & iShares China Large Cap ETF (FXI)

It has been a volatile week in the equity markets once again around the world as risk aversion remains a dominant theme these days. In this week’s edition of the Equity Leaders Weekly, we are going to take a look at the High Grade Copper Continuous Contract (HG.F) given China is a major consumer of Copper and the iShares China Large Cap ETF to get a perspective of how the China equity markets have been performing.

AbbVie Inc. (ABBV) April 27, 2022

AbbVie Inc. (ABBV) shares have continued its relative strength move that saw it climb out of the Unfavored Zone in December of last year and then moving into the Favored zone of the SIA S&P 100 Index report on January 10th at a price of $134.99. Today, the shares are at $156.18 representing a 15.7% gain in less than 4 months’ time.

George Weston Ltd. (WN.TO)

Continuing a relative strength recovery trend that saw it climb up out of the red zone over the first half of 2021 and consolidate in the yellow zone through late 2021 and early 2022, George Weston (WN.TO) has returned to the Green Favored Zone in the SIA S&P/TSX Composite Index Report for the first time since the spring of 2020. Yesterday, it moved up another 11 positions to 59th place.

United Airlines Holdings Inc. (UAL)

A major breakout is underway in United Airlines (UAL) shares. Last week, the shares staged a breakaway gap on a spike in volume that signaled a surge in new investor interest. This move carried the shares back up above $50.00 and appears to have completed a bullish Reverse Head and Shoulders base pattern, signaling the start of a new recovery trend.

Target Corp. (TGT)

A major turnaround is underway in Target Corp. (TGT) shares. Between February and April, TGT completed a bullish Reverse Head and Shoulders base. The head of the pattern saw a selling climax followed by a breakaway gap to the upside on a big spike in volume, which indicated a decisive change in sentiment. Earlier this month, TGT broke through the $230.00 neckline to complete the base and signal the start of a new recovery trend which continues to this day.

PHLX Oilfield Services Index (OSX.I) & iShares MSCI Taiwan ETF (EWT)

It has been a short, sideways week for equity markets. Stocks fell heading into the holiday weekend and have bounced back a bit to start a new week, but not enough to offset their previous declines, leaving markets essentially in a holding pattern for the moment. In this issue of Equity Leaders Weekly, we consider the wider implications of recent weakness in Taiwan shares and at a breakout in the oilfield service sector.

Bath & Body Works Inc. (BBWI)

Last week, Bath & Body Works decisively broke out of a downtrend, completing a bullish Falling Wedge pattern, regaining $50.00 and climbing back above its 50-day moving average. This week, the shares have continued to climb, confirming the start of a new upswing and trending toward a test of $60.00 where a breakout would confirm the start of a recovery trend.

Caterpillar Inc. (CAT)

Last month, a downswing in Caterpillar (CAT) shares bottomed out after being contained by support near $180, a previous breakout point. Since then, the shares have been bouncing back within their wider, well established trading range. Recently, the shares have been climbing on higher volumes, a sign of increased accumulation and yesterday they closed above $230 for the first time since June of 2021.

Marriott International (MAR)

Hotelier Marriott International (MAR) continues to steadily march up the rankings within the Green Favored Zone of the SIA S&P 500 Index Report. Yesterday, it finished in 74th place, up 11 spots on the day and up 36 positions in the last month.

Dow Inc. (DOW)

Back in December, a downtrend in Dow (DOW) shares bottomed out with a successful retest of support near $52.50. Since then, the shares have been steadily recovering in a Rising Channel of higher highs and higher lows. Dow snapped a downtrend line to signal the start of the current recovery trend and has staged a series of successful breakouts, the latest coming on Thursday when the shares blasted through $65.00 on a jump in volume, a sign of increasing investor interest.

iShares MSCI Japan Index Fund (EWJ) & Sector Scopes Update March 2022

In this issue of Equity Leaders Weekly, we take our monthly look at sector scopes and at what recent declines in Asia Pacific indices, particularly Japan, may be telling us about sentiment and risk tolerance toward international equities.

Lululemon Athletica Inc. (LULU)

A classic bullish Flag pattern appears to be underway in lululemon (LULU) shares. After bottoming out near $275 last month, earlier this month, the shares broke out over $325 and blasted through their 50-day moving average on a big spike in volume, kicking off a rally (the first pole) that carried the shares up toward $375. The shares then paused for a couple of weeks near $375 (the flag part). Yesterday, LULU broke out over $385 on a smaller uptick in volume and appears to have kicked off the second pole phase of the pattern, which would be confirmed by a close above $400.

The Kraft Heinz Company (KHC)

Back in March of 2020, a long-term downtrend in Kraft Heinz (KHC) shares bottomed out and was snapped in the summer of 2020. Since then, the shares have remained under accumulation and have been forming a large bullish ascending triangle base of higher lows below $43.50 resistance where a breakout would confirm the start of a new uptrend.

Sandstorm Gold Ltd (SSL.TO)

Sandstorm Gold (SSL.TO), a royalty company, has soared up the rankings in the SIA S&P/TSX Composite Index Report since the start of this year from deep in the red zone to the Green Favored Zone which it recently re-entered for the first time since the summer of 2020. Yesterday, Sandstorm finished in 46th place, up six spots on the day and up 11 positions in the last month.

Alimentation Couche-Tard Inc. (ATD.TO)

A major breakout is underway in Alimentation Couche-Tard (ATD.B) shares. Back in July of 2021, the shares completed a bullish Ascending Triangle pattern with a breakout over $45.00, a level that reversed polarity and became support while the shares moved into a higher range between there and $53.00. Last month, the shares successfully retested channel and long-term uptrend support and haven’t looked back since, soaring to new all-time highs above $55.00 and signaling the start of a new upleg by blasting through $53.00 which may reverse polarity to become initial support.

Cameco Corp. (CCO.TO)

Cameco (CCO.TO) has been under renewed accumulation since February, steadily advancing in a Rising Channel of higher highs and higher lows. Last month, Cameco broke out over $35.00 to complete a bullish Ascending Triangle and then settled into a higher trading range between $32.50 and $37.50. Yesterday, they broke out again to another new high on an uptick in volume, indicated continuing investor interest and the start of a new upleg.

Union Pacific Corp. (UNP)

Technical conditions for Union Pacific (UNP) have weakened dramatically over the last week. Since peaking near $275 a few days ago, UNP shares have been rapidly losing ground on a spike in volumes, a sign of increased selling pressure. The shares have broken down below their 50-day moving average and snapped an upward line with a downward breakaway gap that also took the shares back under $250.

CBOE Interest Rate 30-year (TYX.I) & iShares US Home Construction ETF (ITB)

Equity market confidence has eroded over the last few days. While the threat that more sanctions could be levied on Russia over the Ukraine war has impacted European market action, here in North America, the focus of investors has turned back to the growing headwind of tightening monetary policy. In this week’s issue of Equity Leaders Weekly, we look at the implications of a major trend change in the US 30-year treasury yield, particularly for the homebuilding sector.

AcuityADS Holdings Inc. (AT.TO)

A new recovery trend appears to be getting underway in AcuityADS (AT.TO) shares. AT.TO spent 2021 under distribution but appears to have bottomed out last month in what looks like a final washout below $3.00 after a couple of months of consolidation. In recent weeks, the shares have come under renewed accumulation, first completing a bullish Reverse Head and Shoulders base (circled) and then a bullish Ascending Triangle with a breakout over $4.00.

Toromont Industries (TIH.TO)

Heavy equipment distributor Toromont Industries (TIH.TO) has been climbing back up the rankings in the SIA S&P/TSX Composite Index Report for the last month. Yesterday, it moved up 6 positions to 60th place to the top of the Yellow Neutral Zone, one position outside of the green zone where it has not been since September.

Peyto Exploration (PEY.TO)

This five-year chart highlights the strength of the current recovery trend in Peyto Exploration (PEY.TO) shares. In March of 2020, a long-term downtrend for PEY.TO finally bottomed out and the shares spent the rest of that year base building. In early 2021, Peyto broke out of an Ascending Triangle base and hasn’t looked back since, spending the last year steadily climbing in a Rising Channel of higher highs and higher lows. Last week the shares broke out over $12.00 to their highest level since 2017, confirming that accumulation continues.

Aritzia Inc. (ATZ.TO)

Last month, a breakdown and selloff in Aritzia (ATZ.TO) shares was contained by previous support near the $40.00 round number. Since then, the shares have been bouncing back. A breakout over $50.00 on Wednesday completed a small Reverse Head and Shoulders base signalling the start of a new upswing.

NASDAQ Composite Index (NASD.I) & iShares MSCI Germany Fund (EWG)

In last week’s issue of Equity Leaders Weekly, we looked at the turnaround in US small cap stocks. This week, we investigate the resurgence in European Indices, particularly Germany and at the NASDAQ as an example of renewed interest US momentum/growth sectors plays.

Apple Inc. (AAPL)

A close above $182.00 would take the shares to a new high, complete a bullish spread double top pattern and confirm that the primary uptrend has resumed. Should that occur, vertical and horizontal counts suggest next potential resistance could appear near $200.90, $217.45 or $235.40 on trend. Initial support appears near $164.80 based on a 3-box reversal.

Host Hotels & Resorts Inc. (HST)

A major breakout is underway in Host Hotels (HST) shares. For nearly a year, the shares were stuck in a sideways trading range between $15.00 and $18.50. Over that time an upward trend of higher lows emerged and last month, the shares staged a bullish Ascending Triangle breakout. Although that move faltered, the shares settled into a higher $16.50 to $19.50 trading range, and yesterday HST broke out to another new high.

Tesla Motors Inc. (TSLA)

Over the last few days, Tesla Motors (TSLA) has soared back up the rankings in the SIA S&P 100 Index Report, climbing up from deep in the red zone, blasting through the yellow zone and returning to the Green Favored Zone for the first time since November. Yesterday TSLA jumped another 12 positions to 25th place and it is up 73 spots in the last month.

Dexcom Inc. (DXCM)

Dexcom (DXCM) a medical device company that produces glucose monitors for diabetes patients, has been climbing up the rankings in the SIA S&P 500 Index Report for the last month from deep in the red zone back up into the Green Favored Zone for the first time since November. Yesterday, DXCM finished in 113th place, up 28 spots on the day and up 242 positions in the last month.

Monolithic Power Systems Inc. (MPWR)

A winter correction in Monolithic Power Systems (MPWR) appears to have run its course and its underlying uptrend appears to be resuming. The winter selloff bottomed out near $350, close to the center of a previous $300-$400 trading range and since then, the shares have been rebounding. First they snapped a downtrend line and this week, they broke out over $465 to complete a bullish Ascending Triangle pattern.

Russell 2000 Index (RLS.I) & S&P/TSX Composite Index (TSX.I)

Stock market action has settled down a bit over the last week. The recent shocks of the Ukraine war starting, commodity prices soaring and both North American central banks starting to raise this month have passed and new expectations appear to have been priced in by investors. In this issue of Equity Leaders Weekly, we look at what recent strength in Canadian stocks and a rebound in US small caps are telling us about investor sentiment.

United Rentals Inc. (URI)

This three-year chart highlights the importance of yesterday’s breakout by United Rentals (URI). Back in December, URI successfully retested support near $285 and since then, it has been clawing back lost ground. Two weeks ago, the shares broke out over their 50-day moving average and since then, accumulation has accelerated. Yesterday, URI broke out over $350, calling off a bearish head and shoulders top pattern that had been forming and confirming the start of a new upswing.

Arista Networks Inc. (ANET)

A classic upturn is underway in Arista Networks (ANET) shares. After gapping up in November, the shares peaked in December and then fell back in a correction through January which bottomed out in February when another breakdown was quickly rejected. It turns out that was the head of a reverse Head and Shoulders base that started forming in late January.

Lithium Americas Corp (LAC.TO)

With commodity prices climbing and resource producers attracting renewed interest, Lithium Americas (LAC.TO) has returned to the Green Favored Zone in the SIA S&P/TSX Composite Index Report from a short dip down into the red zone. Yesterday the shares jumped 51 positions to 54th place.

Nvidia Corp. (NVDA)

Nvidia (NVDA) staged a major breakout on Friday. Since peaking in November, NVDA had been under distribution, establishing a downtrend of lower highs. Through February and March, support started to emerge above the $200.00 round number. Last week, the shares started to climb on increasing volumes, a sign of renewed accumulation that was confirmed on Friday with the shares breaking through $250.00, snapping a downtrend line and retaking their 50-day moving average. Initial support appears at the 50-day moving average near $245.00.

Deere & Co. (DE)

Farm equipment producer Deere & Co (DE) has been climbing up the rankings in the SIA S&P 500 Index Report since December and recently reached its highest ranking since May of 2021. Yesterday, DE finished in 36th place, up 4 spots on the day and up 22 positions in the last month.

Paramount Global – Class B (PARA)

Movie, streaming and cable giant Paramount Global (PARA) spent most of the last year stuck in the red zone of the SIA S&P 500 Index report but has roared up the rankings lately, recently returning to the Green Favored Zone for the first time since March of 2021. Yesterday, PARA finished in 98th place, up 17 spots on the day and up 381 positions in the last month.

CBOE Interest Rate 10-year (TNX.I) & Dow Jones Transportation Average (DTX.I)

In this issue of Equity Leaders Weekly, we take our monthly look at the implications of rising US interest rates and an interesting divergence by the Dow Transports.

AON Plc. (AON)

Back in January, a pullback in AON (AON) shares was contained by support near $260.00, a former resistance level. Since then, signs of renewed accumulation have become more apparent. A new upward trend of higher lows as emerged, the shares snapped out of a 5-month downtrend and yesterday, AON broke out over $300.00 and completed a bullish Ascending Triangle pattern.

Pfizer Inc. (PFE)

Continuing an upward trend in relative strength that began nearly a year ago deep in the red zone, Pfizer (PFE) recently bottomed out at a higher low within the SIA S&P 500 Index Report and has returned to the Green Favored Zone from a short dip into the yellow zone. Yesterday, Pfizer jumped 44 positions to 120th place and it is up 6 spots in the last month.

Welltower Inc.

A major breakout is underway in Welltower (WELL) shares. After steadily climbing up out of the March 2020 market bottom, Welltower had been stuck in a sideways trading range since May. Last week it broke through $90.00 to signal the start of a new advance which would be confirmed if the shares can close above their 2019 peak which was near $92.25.

Fortuna Silver Mines Inc. (FVI.TO)

A new recovery trend appears to be getting underway in Fortuna Silver Mines (FVI.TO) shares. A long-term downtrend bottomed out in a selling climax below $4.00 back in December and through January and February, the shares built a base for recovery in the $4.00 to $5.25 range. This month, the shares have turned decisively upward, completing a bullish Ascending Triangle pattern and then snapping out of a long-term downtrend.

Wheat Continuous Contract (W.F) & Sector Scopes Monthly Update March 2022

Yesterday stock markets, particularly in Europe rebounded, while gold and oil dropped back. It remains to be seen if this was a dead cat bounce or the start of a larger reversal of fortune. In this issue of Equity Leaders Weekly, we take our monthly look at sector scopes and at inflation in grain prices.

Dollarama Inc. (DOL.TO)

For nearly two years, Dollarama (DOL.TO) has been under accumulation, steadily advancing in a rising channel of higher highs and higher lows. This week, the shares have broken out to a new all-time high, confirming that their upward trend remains intact. Measured moves from previous trading ranges suggest potential upside resistance near $74.50 then $80.00. Initial support appears near $65.00 then $60.00

Loblaw Companies Ltd. (L.TO)

Benefitting from a rotation of capital into defensive sectors like Consumer Staples, grocery and drug store operator Loblaw Companies (L.TO) has returned to the Green Favored Zone of the SIA S&P/60 Index Report, continuing an upward trend in the rankings which started about a year ago. Yesterday, L.TO finished in 13th place, up 4 spots on the day and up 9 positions in the last week.

Eli Lilly & Co. (LLY)

With consumer staples companies starting to attract renewed interest, personal products producer Eli Lilly (LLY) recently returned to the Green Favored Zone in the SIA S&P 100 Index Report. LLY had been steadily drifting downward in the rankings since September but has turned decisively back upward over the last few weeks. Yesterday, LLY finished in 10th place, up 3 spots on the day and up 20 positions in the last month.

IAMGOLD Corp. (IMG.TO)

Iamgold (IMG.TO) continues to build a base for recovery. Since bottoming out in September, the shares have slapped out of a downtrend and established a higher low above $3.00. In Friday, the shares closed at their highest level since May of 2021.

Yamana Gold Inc. (YRI.TO)

A major upturn is underway in Yamana Gold (YRI.TO). After spending nearly a year under distribution following its summer 2020 peak, Yamana spent the second half of 2021 building a base for recovery in the $4.80 to $5.80 range. The shares recently broke out of this base and have established higher support above $6.00 now, indicating that a new recovery trend has started.

Cameco Corp. (CCO.TO)

For the last two years, since the March 2020 market bottom, Cameco (CCO) has been under accumulation, advancing in a step pattern of rallies followed by periods of consolidation at higher levels. Since the latest correction ended in January, the shares have been bouncing back and accumulation appears to be accelerating with the shares gapping upward and snapping a downtrend line in the last few days.

Crude Oil Continuous Contract (CL.F) & iShares US Aerospace & Defense ETF (ITA)

It has been another volatile week for world markets with several sizeable reversals of sentiment day to day and sometimes even hour to hour. The war between Russia and Ukraine and the implementation of sanctions on Russia’s banking system and energy distribution has sent shockwaves through stocks, bonds, commodities and currencies. In this issue of Equity Leaders Weekly, we take a look at renewed interest in defense stocks and at the long-term context of recent action in the price of oil.

General Dynamics Corp. (GD)

General Dynamics (GD) spent over three and a half years from mid-2018 to January 2022 stuck in the red unfavored zone of the SIA S&P 100 Index Report. In the last few weeks, GD has rocketed up the rankings on renewed interest in defense contractors, recently returning to the Green Favored Zone for the first time since June of 2018. Yesterday GD finished in 14th place, up 8 spots on the day and up 22 positions in the last month.

Raytheon Technologies Corp (RTX)

Defense contractor Raytheon Technologies (RTX) appears to finally be getting its day in the sun. After spending nearly all of the last decade stuck in the red zone of the SIA S&P 500 Index Report, Raytheon has rocketed up the rankings lately and recently returned to the Green Favored Zone for the first time since 2010. Yesterday, the shares finished in 10th place, up 6 spots on the day and up 24 positions in the last month.

Nucor Corp. (NUE)

For the last six months, Nucor (NUE) shares have been trending sideways between $88.00 and $128.00, consolidating gains made in a previous advance up from near $45.00. Last month, Nucor successfully retested the bottom of this zone and since then, it has been on the rebound. Last week, the shares successfully tested support at their 50-day moving average near $111.75 as support then rallied up off of it to a new all-time high, blasting through the top of its previous range on Friday on increased volume, a sign of renewed interest.

Live Nation Entertainment Inc. (LYV)

Since we last mentioned concert promoter Live Nation (LYV) as a potential reopening play in the October 4th edition of the Daily Stock Report, the shares have gained 26.0%. Boosted by a positive quarterly sales report and strong advance ticket sales, Live Nation jumped 23 positions to 19th place within the Green Favored Zone of the SIA S&P 500 Index Report.

S&P 500 Index (SPX.I) & iShares S&P 500 Growth ETF (IVV) Vs. iShares S&P 500 Value ETF (IVE)

Stock markets around the world have continued to retreat with major US indices falling back to levels not seen since last summer. Increasing tensions and the spiral into the open war between Russia and Ukraine which started overnight have been center stage, pushing pretty much everything else into the background. In this issue of Equity Leaders Weekly, we look at the recent breakdown by US indices as the current downswing deepens, and at the eternal tug-of-war battle between Growth and Value.

Wesdome Gold Mines Ltd. (WDO.TO)

A big upswing is underway in Wesdome Gold Mines (WDO.TO) with the shares breaking through resistance in the $13.00-$13.50 area (which has reversed polarity and become initial support) to blast through the top of a sideways trading range that had formed above $10.00 over the last nine months, and to complete a bullish Ascending Triangle pattern.

Philip Morris International Inc. (PM)

With capital returning to defensive havens, even generally unloved sectors like tobacco have attracted renewed interest lately. Phillip Morris spent most of the last 5 years stuck in the red zone of the SIA S&P 100 Index Report. It started to climb back up the rankings last year and in the last few days it has returned to the Green Favored Zone for the first time since September of 2017. Yesterday, PM rose one position to 14th place and it is up 19 spots in the last month.

Topaz Energy Corp. (TPZ.TO)

Since joining the SIA S&P/TSX Composite Index Report in December, Topaz Energy (TPZ.TO) has been steadily working its way up the rankings in the Green Favored Zone. On Friday, it climbed another two positions to 42nd place.

Newell Rubbermaid Inc. (NWL)

A major upturn is underway in Newell Rubbermaid (NWL) shares. Last May, a long-term uptrend topped out and the shares fell under distribution which continued until October. The shares then spend the last four months building a base for recovery in the $20.00 to $24.50 range. In the last month, NWL has come under renewed accumulation with the shares climbing on higher volumes. The shares have broken out their base, cleared the $25.00 round number hurdle, and continue to advance.

Booking Holdings Inc. (BKNG)

Following its big rally up off of the 2020 market bottom, Booking Holdings (BKNG) spent most of 2021 stuck in a sideways trading range between $2,000 and $2,500 consolidating its gains. A November breakout turned to be false, but underlying support held through the ensuing correction, which occurred on falling volumes. Since December, accumulation has resumed with the shares climbing on increasing volumes. Yesterday, Booking broke out to a new all-time high above $2,700, signaling that the recent pause has ended and a new uptrend has commenced.

SPDR S&P Retail ETF (XRT) & Invesco Dynamic Leisure and Entertainment ETF (PEJ)

With the exception of a one-day relief rally, equity markets have continued to struggle, impacted by a number of cross currents. Much of the focus has been on the political tensions between Ukraine and Russia but in this issue of Equity Leaders Weekly, we take a look at current trends in the retail and leisure sectors.

Marriott International (MAR)

For over 18 months, Marriott International (MAR) has been under accumulation, climbing a step pattern of rallies followed by pauses at higher levels and establishing an uptrend of consistently higher lows. Yesterday, the shares staged a major breakout, gapping up and soaring to a new high on strong volume, a sign of renewed investor interest kicking off a new advance.

Expedia Group Inc. (EXPE)

Travel booking company Expedia Group (EXPE) has been steadily climbing back up the rankings in the SIA S&P 500 Index Report since December and advancing toward the top of the Green Favored Zone since January. Yesterday, Expedia finished in 28th place, up 6 positions on the day and up 67 spots in the last month.

New Gold Inc. (NGD.TO)

New Gold (NGD.TO) shares staged a major breakout on Friday over $2.25, a move that snapped a long-term downtrend line and completed a bullish Ascending Triangle pattern, combining to signal that base building is over and a new uptrend has commenced. All of this happening on a spike in volume confirms renewed investor interest.

Lundin Mining Corp. (LUN.TO)

Lundin Mining (LUN.TO) shares have turned decisively upward this week, breaking out over $11.50 to complete a bullish Ascending Triangle base which formed over the four months since a summer 2021 selloff bottomed out near $8.50 last September.

iShares US Insurance ETF (IAK) & Sector Scopes Monthly Update (Feb 2022)

Although there continues to be significant volatility in individual stocks and sectors, particularly around earnings reports, and most notably in the social media group lately, some of the overall headwinds that had been knocking equities down lately appear to be easing a bit. In this issue of Equity Leaders Weekly, we take out monthly look at sector scopes and at financials, particularly the insurance sector.

Principal Financial Group Inc. (PFG)

A year ago, Principal Financial (PFG) completed its recovery from the 2020 market crash with a bullish Ascending Triangle breakout. Since then, the shares have remained under steady accumulation, advancing in a Rising Channel of higher highs and higher lows. This week, the shares have broken out to another new all-time high, confirming their underlying uptrend continues.

American Express Company (AXP)

Since successfully retesting support in the $150s last month, American Express (AXP) has been under renewed accumulation. Starting with a high-volume bounce that regained the 50-day average, the shares had been climbing within their previous $150-$185 range for several days, snapping a downtrend line along the way. Yesterday the shares blasted through the top of the channel to a new all-time high, signaling the start of a new advance and the end of a consolidation phase.

DXC Technology Co. (DXC)

After spending October to January stuck in the red zone of the SIA S&P 500 Index Report, cloud computing and IT consulting company DXC Technology (DXC) has soared up the rankings in the last few days. Last week, DXC returned to the Green Favored Zone for the first time since August. Yesterday it jumped 51 spots to 53rd place and is now up 255 positions in the last month.

Dollarama Inc. (DOL.TO)

For over a year, Dollarama (DOL.TO) shares have been under steady accumulation, advancing in a rising channel of higher highs and higher lows since completing a huge bullish Ascending Triangle breakout in April of last year that signaled three years of struggle were over and the shares were resuming their upward course.

Meta Platforms Inc. (FB)

Recent trading in Meta Platforms (FB) highlights how SIA Charts rankings not only help advisors to identify opportunities with high relative strength, it also helps advisors to screen out stocks with weakening relative strength or at risk of significant underperformance. In the case of Meta, advisors had two relative strength warnings signals last fall, one when FB fell out of the green zone in the SIA S&P 500 Index Report, and one when FB entered the Red Unfavored Zone.

US Dollar Index Continuous Contract (DX2.F) & Crude Oil Continuous Contract (CL.F)

On the surface, it has been a better week for equity markets, particularly in the US and Europe, which finished January and started February off with strong rebound rallies. It remains unclear at this point, whether this upswing is the start of a significant turnaround for stocks or if it is a relief rally within an emerging downtrend. In this issue of Equity Leaders Weekly, we look at the implications across asset classes of a rising US Dollar, and at recent activity in energy markets.

Alphabet Inc. (GOOG)

Boosted by a stronger than expected earnings report and news of a 20-for-1 stock split coming, Alphabet (GOOG) shares soared 7.5% yesterday. However, when looking at a point and figure chart even though the recent bounce up off of $2,500 has been encouraging it has done nothing to change the sideways trend which has emerged since a high pole stalled out in September and a November breakout failed in a bull trap reversal. Currently the shares are still on a bearish Double Bottom pattern on a 2% chart although they are on a bullish Low Pole Warning on a 1% chart.

United Parcel Service Inc. (UPS)

After regaining the $200.00 round number level on Monday, UPS shares blasted off yesterday, staging a major breakaway gap up through resistance to a new al-time high on a big spike in volume, all combining to signal a surge in new interest and the start of a new advance.

Prairiesky Royalty Ltd. (PSK.TO)

Energy royalty company Prairiesky (PSK.TO) has returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report for the first time since November, continuing a climb up the rankings which started down in the red zone a month ago. Yesterday, the shares finished in 51st place, up 7 spots on the day and up 90 positions in the last month.

Celestica (CLS.TO)

Celestica (CLS.TO) shares spent the better part of three years stuck in a sideways trading range between $8.00 and $12.00. Accumulation resumed in July after the shares bounced up off support at a higher low near $9.00. Since then, they have been trending upward and in November, they broke out to the upside, signaling the start of a new uptrend. Last week, the shares completed a Bullish Engulfing candle and popped to their highest level since the summer of 2018 on a jump in volume, indicating increasing investor interest.

Methanex Corp. (MX.TO)

Methanex (MX.TO) has been steadily climbing back up the rankings in the SIA S&P/TSX Composite Index Report this month, rising back up out of the red zone and returning to the Green Favored Zone for the first time since October. Yesterday, the shares finished in 57th place, up 20 spots on the day and up 96 positions in the last month.

Russell 2000 Index (RLS.I) & CBOE 10-Year Interest Rate Continuous Contract (TNX.I)

It has been a tumultuous week for equity markets with several large intraday swings indicating a volatile environment. The prospect of interest rate increases in both the US and Canada, with both the Fed and the Bank of Canada hinting that they could start raising rates at their next meetings in March, sent investors fleeing from risk markets into defensive havens. In this issue of Equity Leaders Weekly, we take a look at the implications of a breakdown by the Russell 2000, and at the recent rise in US traded interest rates.

Archer-Daniels Midland Company – (ADM)

Archer Daniels Midland (ADM), an agricultural commodity trading and storage company, recently returned to the Green Favored Zone of the SIA S&P 500 Index Report and has climbed to its highest level since 2009 after spending most of the last 13 years stuck in the red zone. Yesterday, ADM finished in 61st place, up 37 spots on the day and up 143 positions in the last month.

EOG Resources Inc. (EOG)

US oil & natural gas producer EOG Resources (EOG) returned to the Green Favored Zone of the SIA S&P 500 Index Report and since then, it has climbed 30.7%, including a 20.4% gain so far this month. Yesterday, EOG finished in 6th place up 102 spots in the last month.

Richelieu Hardware Ltd. (RCH.TO)

Specialty hardware and building supply retailer Richelieu Hardware (RCH.TO) recently returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report and has climbed to its highest position since November of 2020. Yesterday the shares finished in 29th place, up 24 spots on the day and up 96 positions in the last month.

Baker Hughes Company (BKR)

Oilfield service giant Baker Hughes (BKR) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report, continuing a relative strength uptrend that started in the red zone in December. On Friday the shared finished in 71st place up 29 spots on the day and up 208 positions in the last month.

Netflix Inc. (NFLX)

Technical conditions for Netflix (NFLX) shares have been deteriorating for several weeks now. After spending the first half of 2021 stuck in a sideways range, the shares staged a summer rally which peaked in November just short of $700.00 Since then, the shares have been under distribution, staging a series of Double Bottom breakdowns on November 30th, December 14th, and January 5th, two of which led into extended Low Pole declines.

NASDAQ Composite Index (NASD.I) & Emerging Resource Markets: iShares Latin America 40 ETF (ILF) and iShares MSCI Russia ETF

Although signs of distribution in equities have been emerging for several weeks, in the last week, downturns have become more decisive with breakdowns by the NASDAQ Composite indicating weakness in technology/communications stocks, and by the Russell 2000 indicating a broad-based aversion to small caps intensifying. In this issue of Equity Leaders Weekly, we dig deeper into the technology sector downturn, and at capital rotation into resource-sensitive emerging resource markets.

Labrador Iron Ore Royalty Corp. (LIF.TO)

Today’s Labrador Iron Ore (LIF.TO) chart is a good example of why we look to both Point and Figure and Candlestick for insights into market trends and support/resistance levels. The late summer selloff in LIF.TO shares was, in fact, contained by a long-term uptrend support line which dates back to the March 2020 market bottom. Since then, accumulation has resumed and the shares have been steadily recovering lost ground in a Rising Channel of higher highs and higher lows.

Caterpillar Inc. (CAT)

Back in October, a downward trend in Caterpillar (CAT) bottomed out with a series of successful support tests near $190.00. In recent weeks, the shares have snapped out of a downtrend, regained and held above their 50-day moving average, launched up off of the 50-day average and blasted through $220.00 to complete a bullish Ascending triangle pattern and have continued to climb. Since the start of this month, bullish signals have occurred on increased volumes, a sign of renewed accumulation.

Baytex Energy Corp (BTE.TO)

Earlier this month, Baytex Energy (BTE.TO) returned to the Green Favored Zone in the SIA S&P/TSX Composite Index Report and has continued to steadily march up the rankings. Yesterday it finished in 9th place, up 1 spot in the day and up 29 positions in the last month.

National Bank of Canada (NA.TO)

Back in December, a correction in National Bank of Canada* (NA.TO) shares was contained by support at a previous low near $93.25. Since then, the shares have been bouncing back and their technical situation has improved. Last week, the shares regained their 50-day moving average near $99.00 (which reverses polarity to become initial support and then the $100.00 round number

MetLife Inc. (MET)

Insurance companies have been attracting renewed interest along with banks lately. Yesterday, MetLife (MET) returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time in about six months, continuing an upswing in the rankings which started in August. Yesterday the shares finished in 25th spot, up 4 places on the day and up 15 positions in the last month.

Halliburton Co. (HAL)

With crude oil and natural gas prices on the rise again, and winter drilling season underway, oilfield service companies have been attracting renewed interest from investors. Halliburton (HAL) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time in two months, bouncing back from a drop into the red zone. Yesterday, HAL finished in 78th place, up 16 spots on the day and up 206 positions in the last month.

Sector Scopes Monthly Review & High Grade Copper Continuous Contract (HG.F)

First Quantum Minerals Ltd. (FM.TO)

Over the last four months, shares of copper producer First Quantum Minerals (FM.TO) have snapped out of a downtrend and established higher support near $26.50. Yesterday, FM.TO broke out over $31.00 on increased volumes, signaling renewed investor interest and the start of a new upleg that has already moved to within striking distance of the May peak near the $35.00 round number.

Canadian Imperial Bank Of Commerce (CM.TO)

Banks on both sides of the border have been climbing and moving up in the relative strength rankings this week heading into the start of US Bank Earnings Week on Friday. Yesterday, CIBC* (CM.TO) returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report from a short dip into the yellow zone. Yesterday it finished in 51st place, up 5 spots on the day and up 16 positions in the last month.

Bank of Montreal (BMO.TO)

For over a year, Bank of Montreal (BMO.TO) shares have been under steady accumulation, climbing in a step pattern of rallies followed by pauses at consistently higher levels. On Friday, the stock broke out to a new all-time high, signaling the start of a new rally phase, and confirming that its underlying uptrend remains intact. A measured move from previous consolidation ranges suggests potential upside resistance near $150.00 on trend. Initial support moves up to the 50-day average near $137.50.

Canfor Corp. (CFP.TO)

Lumber and pulp producer Canfor (CFP.TO) has been steadily climbing back up the rankings in the SIA S&P/TSX Composite Index Report since bottoming out in August. Late last week, Canfor (CFP.TO) shares staged a major breakout, decisively closing above $30.00 for the first time since May and completing a bullish Ascending Triangle base pattern which had been forming since August.

Crescent Point Energy Corp. (CPG.TO)

The five-year weekly chart highlights just how technically important yesterday’s major breakout on volume by Crescent Point Energy (CPG.TO) is. Not only have the shares ended months of sideways consolidation, they completed a long-term base, breaking out to their highest level since the summer of 2018 and confirming a previous bullish Ascending Triangle breakout.

BMO Equal Weight Oil & Gas Index ETF* (ZEO.TO) & iShares Expanded Technology-Software Sector ETF (IGV)

This year’s New Year’s rally, which extended the Santa Claus Rally that ran through the last ten days of 2021, has quickly come to a screeching halt. Investors appear to have quickly recognized that many of the issues which plagued sentiment in late November and early December not only haven’t gone away, they may actually be worsening. In this issue of Equity Leaders Weekly, we contrast recent action in the software and energy sectors as examples of rotation between equity market groups.

Devon Energy Corp. (DVN)

The technical picture for Devon Energy (DVN) shares has improved significantly over the last few weeks. Building on a bullish Morning Star candlestick reversal pattern (black circle on the chart) the shares regained their 50-day moving average and then retested it as new support. This week, a major breakout is underway with the shares soaring to new all-time highs on increased volumes.

Tesla Inc. (TSLA)

It has been a roller coaster ride for Tesla Motors (TSLA) shares over the last six months, but through these ups and downs, some very strong technical levels and patterns have emerged. The shares had weakened in December as founder Elon Musk sold some of his shares in a planned program, but roared back to life yesterday, popping 13.5% after the electric vehicle producer announced strong Q4 sales numbers.

Kimco Realty Corp. (KIM)

We finish the year with a change of pace. In the Daily Stock Report, we usually focus on stocks that are rocketing up/down the rankings in SIA Charts reports, entering/leaving the Green Zone or breaking out/down technically. There are stocks, however, which may be less flashy, but generate significant returns by remaining in the Favored Zone for an extended period of time.

Interfor Corp. (IFP.TO)

A major breakout is underway in Interfor (IFP.TO) shares. Recovering from a spring selloff, the shares have been steadily recovering lost ground since August, forming a bullish Ascending Triangle pattern of higher lows below $36.00. Yesterday, the shares blasted through that barrier to a new all-time high on a spike in volume, indicating a surge in investor interest. The shares continued to climb up through $40.00, confirming that a new upleg has started within a long-term bullish trend.

Dow Jones Utilities Average (DUX.I) & iShares MSCI United Kingdom ETF (EWU)

The Santa Claus Rally which started last week, has continued into this week but the initial rebound momentum has slowed. In this issue of Equity Leaders Weekly, we look at recent action in the Utilities sector and renewed interest in the UK market.

Fortinet Inc. (FTNT)

From November of 2020 through to October of this year, Cybersecurity software producer Fortinet (FTNT) shares were under steady accumulation, consistently advancing in a rising channel of higher highs and higher lows, while holding above their 50-day average. For the last two months, upward momentum slowed and the shares consolidated their gains. This week, the shares have resumed their long-term uptrend, breaking out over $350.00 to a new all-time high.

Nutrien Ltd. (NTR.TO)

Fertilizer producer Nutrien (NTR.TO) has been steadily climbing up the relative strength rankings in the SIA S&P/TSX 60 Index Report since May. So far this month, the shares are up 10.0%. Yesterday, Nutrien finished in 7th place, up 3 positions in the last week.

CF Industries Holdings Inc (CF)

Since returning to the Green Favored Zone of the SIA S&P 500 Index Report back in September from a trip down into the red zone, shares of fertilizer producer CF Industries (CF) are up 34.1%. The shares have continued to march toward the top of the rankings. Yesterday the shares moved up to 4th place, up 9 spots on the day and up 34 positions in the last month.

Micron Technology Inc. (MU)

Back in October, a six-month decline in computer memory producer Micron Technology (MU) shares was contained by an uptrend support line. Since then, distribution has reversed back into accumulation and MU’s primary uptrend has resumed. In recent weeks, the shares have regained and held above their 50-day average, snapped a downtrend line, and this week, have started to accelerate upward, clearing $90.00.

CVS Health Corp. (CVS)

With defensive stocks attracting renewed interest, long-beleaguered drug store chain CVS Health (CVS) has been climbing back up the rankings in the SIA S&P 100 Index Report, and yesterday it returned to the Green Favored Zone for the first time since May of 2016, over 51/2 years. CVS finished yesterday in 19th place, up 6 spots on the day and up 16 positions in the last month.

General Motors Company (GM)

General Motors (GM) has tumbled down out of the green zone of the SIA S&P 500 Index Report, back down into the Yellow Neutral Zone as its relative strength deteriorates. On Friday, the shares fell 13 spots to 29th position after the shares fell 5.5%.

Iron Mountain Inc. – (IRM)

A major breakout is underway in records management and document shredding service provider Iron Mountain (IRM) shares. Yesterday the shares blasted through $50.00 to a new all-time high, confirming the recent completion of a bullish Ascending Triangle pattern. Combined these breakouts signal that the consolidation phase which started back in August is over and that a new rally phase has started.

SPDR S&P Retail ETF (XRT) & Lumber Continuous Contract (LB.F)

It has been another week of mixed action for equities and commodities. Stock markets in North America, Germany, and Japan retreated for much of the last week, then bounced back yesterday. In this issue of Equity Leaders Weekly, we look at recent action in the price of Lumber, and at how the retail sector has been reflecting changes in investor sentiment.

Eli Lilly and Company (LLY)

Four months of rangebound consolidation in Eli Lilly (LLY) shares ended yesterday with a major breakout that resolved a sideways rectangle that had formed between $220 and $275 to the upside. A breakaway gap on a surge in volume signaled renewed investor interest in LLY and the start of a new upleg.

UnitedHealth Group Inc. (UNH)

For over a year, UnitedHealth (UNH) has been under accumulation, advancing in a step pattern of rallies followed by periods of consolidation at higher levels. After consolidating through November, UNH has embarked on a new rally phase this month, climbing to new all-time highs and advancing toward the $500 round number.

Trane Technologies PLC (TT)

Furnace and air conditioner producer Trane Technologies (TT) returned to the Green Favored Zone of the SIA S&P 500 Index Report from a two-month drop into the yellow zone. Yesterday, Trane moved into 125th place, up 18 positions in the day and up 95 spots in the last month.

Altus Group Ltd. (AIF.TO)

A major breakout is underway in Altus Group shares. Through 2021, the shares have been advancing in a step pattern of rallies followed by periods of consolidation at higher levels. Last week, the shares rallied on increasing volume, a sign of accelerating accumulation, and broke out to a new high over $68.00, completing a bullish Ascending Triangle pattern and signaling the start of a new rally phase.

DR Horton Inc. (DHI)

Between May and October, DR Horton (DHI) shares were under steady distribution but have turned things around in recent weeks. Since bottoming out in October, DHI has been recovering lost ground, and the technical situation has improved with the shares regaining their 50-day average, staging an upward gap and snapping a downtrend on their road to recovery.

Synopsys Inc. (SNPS)

Security and design software producer Synopsys (SNPS) continues the steady march up the rankings in the SIA S&P 500 Index Report that started back in May deep in the red zone. Yesterday the shares finished in 7th place, up 9 spots on the day and up 46 positions in the last month.

Sector Scopes Monthly Review & iShares MSCI ACWI ex US Index Fund (ACWX)

In this issue of Equity Leaders Weekly, we take our monthly look at Sector Scopes and investigate recent action in international markets.

Crescent Point Energy Corp. (CPG.TO)

Earlier this year, Crescent Point Energy Shares broke out of a long-term downtrend, then spent most of 2021 consolidating its original recovery gains between $4.00 and $6.50. This week, the shares have staged another major breakout, clearing $6.50 to trade at their highest level since the summer of 2018, signaling the start of a new upleg.

Simon Property Group Inc.

The last time we commented on Simon Property Group (SPG) was on the Aug 31st edition of the Daily Stock Report when the shares had experienced a 66.8% increase in price appreciation since first entering the Favored zone of the S&P 100 Index back in Nov 2020 at a price of $79.10. Today, the shares remain in the Favored Zone in the # 3 Spot at a price of $152.60 which now represents a 92.9% increase.

Vermilion Energy Inc. (VET.TO)

The technical picture for Vermilion Energy (VET.TO) continues to improve. Earlier this year, the shares completed a bullish Ascending Triangle base with a breakout over $10.00, then consolidated in a higher range between $7.00 and $11.00 for a few months. An October breakout and push toward $15.00 was followed by the recent low-volume correction where declines were contained above $11.00 as previous resistance reversed polarity to become support, a sign of continuing underlying accumulation.

Interfor Corp. (ITP.TO)

Over the last several weeks, the price of lumber has been bouncing back, sparking renewed interest in forest products stocks. Interfor (IFP.TO) has returned to the Green Favored Zone for the first time in about six weeks as it roars back from a sharp but short drop down into the red zone. Since a summer retreat bottomed out in August, it has become clear that IFP.TO shares have been trending sideways since March. Recent trading indicates that accumulation has resumed and the shares could be setting up for a breakout.

Micron Technology Inc. (MU)

Micron Technology (MU) has rebounded dramatically from is mid-October bottom. Over the last six weeks, the shares have regained and held above their 50-day average, snapped a downtrend line which completed a bullish Falling Wedge pattern cleared and retested $75.00 as support and broken through $85.00 previous resistance. Accumulation has accelerated in recent weeks with the shares gapping upward and continuing to climb on higher volumes.

Crude Oil Continuous Contract (CL.F) & BMO Long-Term US Treasury Bond Index ETF (ZTL.NEO)

The cautious turn in sentiment highlighted in last week’s edition of the Equity Leaders Weekly has accelerated in the last week with capital fleeing from equities and commodities and moving back into defensive havens including US bonds, the Japanese Yen, and gold. In this issue of Equity Leaders Weekly, we look at the state of the oil market amid recent volatility and at renewed interest in US bonds.

Apple Inc. (AAPL)

With a 3.1% gain on a rough day for the markets, Apple (AAPL) was the top performing stock in the NASDAQ 100 yesterday and one of only four stocks in the index to have a positive day. This outperformance propelled Apple up six spots in the relative strength rankings to 22nd place. With this move, Apple has returned to the Green Favored Zone for the first time since February.

Lam Research Corp (LRCX)

Over the last month, semiconductor equipment producer Lam Research (LRCX) has been moving back up the rankings in the SIA NASDAQ 100 Index Report, climbing up out of the red zone and returning to the Green Favored Zone for the first time since August. Yesterday the shares finished in 24th place up 15 spots on the day and up 36 positions in the last month.

Pfizer Inc. (PFE)

With a new COVID variant sparking renewed interest in companies who produce vaccines and treatments, Pfizer (PFE) rallied 6.1% and shot up the rankings in the SIA S&P 100 Index Report, returning to the Green Favored Zone and climbing to its highest position since January of 2019. On Friday, PFE finished in 12th place up 23 positions on the day and up 53 spots in the last month.

HP Inc. (HPQ)

A breakaway gap on a big surge in volume for HP Inc. (HPQ) has driven its shares up through its April peak to a new all-time high. The technical picture for HPQ had already been improving in recent weeks with the shares snapping out of a downtrend, breaking out of a bullish Falling Wedge pattern, regaining their 50-day average and finally, completing a bullish Ascending Triangle. Combined these signals confirm that accumulation has resumed in a big way.

BMO Equal Weight Banks Index ETF (ZEB.TO) & Platinum Continuous Contract (PL.F)

The tone of equity market trading over the last week or so has shifted from enthusiasm to caution. Part of this may be due to the usual US Thanksgiving week slowdown in trading activity but other factors appear to be at work as well. In this issue of Equity Leaders Weekly, we preview Canadian bank earnings week and what the price of platinum may be telling us about the future of the auto sector.

Suncor Energy Inc. (SU.TO)

Suncor Energy (SU.TO) shares have been trending upward for a year now and continue to steadily recover. A recent correction was contained above the previous breakout point near $31.00 and this week, the shares have launched up off of that level to trade at their highest levels since 2019, a sign of continuing accumulation.

Gildan Activewear Inc. (GIL.TO)

Gildan Activewear* (GIL.TO) has been steadily advancing for over a year now, building an uptrend of consistently higher lows and completing a series of bullish pattern breakouts, including the current Double Top. Most significantly, the shares have recently regained the $50.00 level and broken through their 2019 peak which was near $51.40 to a new all-time high, signaling that a long recovery phase has ended and a new advance has started.

Tesla Motors Inc. (TSLA)

With the recent selling pressure against Tesla Motors (TSLA) apparently subsiding, the shares have returned to the Green Favored Zone of the SIA S&P 500 Index Report from a brief dip into the yellow zone. Yesterday the shares moved up 9 positions to 124th place.

Thomson Reuters Corp. (TRI.TO)

Thomson Reuters (TRI.TO) has been under steady accumulation since breaking out in 2013, with only two significant speed bumps along the way, the broad market retreats of late 2018 and early 2020. The shares spent most of this year so far in a High Pole rally. Coming out of a small 4-box correction in September, their uptrend has resumed, especially since their recent Double Top breakout to a new all-time high.

Home Depot Inc. (HD)

Since bottoming out back in March, Home Depot (HD) has been under accumulation, steadily advancing in an uptrend of rallies followed by consolidation at higher levels. A spring rally was followed by a summer of consolidation that culminated in a bullish Ascending Triangle breakout last month. Since then, a bullish Flag pattern has emerged. The shares staged a sharp rally in October, followed by 3 weeks of sideways consolidation, and this week the shares have broken out into a second upleg. This breakout to new all-time highs has occurred on a jump in volume indicating increased investor interest.

ISE Homebuilders Index (RUF.I) & BMO Junior Gold Index ETF (ZJG.TO)

Broader equity market momentum has slowed in the last few days but a look beneath the hood indicates significant strength in several sectors. In this issue of Equity Leaders Weekly, we take a closer look at sector action in the marketplace, particularly US homebuilding and Canadian junior gold stocks.

Lowe’s Companies Inc. (LOW)

This 3-year candlestick chart highlights the strength of the current staircase accumulation pattern in Lowes Companies* shares with rallies followed by pauses at increasingly higher levels. The current rally phase kicked off with a rally on volume up off of $175 channel support followed by a successful retest of uptrend support near $200. Yesterday, the shares traded at a new all-time high above $250 intraday, indicating continuing investor interest.

Lululemon Athletica Inc. (LULU)

Exercise clothing retailer lululemon (LULU) has been steadily climbing up the rankings in the SIA NASDAQ 100 Index Report, recently returning to the Green Favored Zone for the first time since September of 2020. Yesterday, the shares finished in 16th place up 13 positions in the last month.

Oceanagold Corp. (OGC.TO)

Oceanagold (OGC.TO) is one of the first gold producers to return to the Green Favored Zone of the SIA S&P/TSX Composite Index Report since gold and silver broke out last week and ignited renewed interest in precious metal miners and explorers. Yesterday, the shares finished in 51st place, up 6 spots on the day and up 130 positions in the last month.

Shopify Inc. (SHOP.TO)

Accumulation accelerated dramatically in Shopify (SHOP.TO) shares on Friday. An 11.5% Friday pop on volume would have been enough to signal new interest but combining that with a rally up off the 50-day average, regaining $2,000 and blasting through its July peak to a new all-time high all indicate that a new upleg has started and confirm that the previous summer downtrend has ended.

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Seagate Technology Plc. – (STX)

With a major breakout over the $100.00 round number this week, Computer data storage and hard drive producer Seagate Technology (STX) has successfully completed six months of consolidation and kicked off a new upleg within a continuing long-term uptrend.

Sleep Country Canada Holdings Inc. (ZZZ.TO)

Sleep Country Canada (ZZZ.TO) has been in the Green Favored Zone of the SIA S&P/TSX Composite Index report since August, returning 17.5% over that time. Recently, relative strength has been increasing. Yesterday the shares finished in 28th place, up 6 spots on the day and up 11 positions in the last week.

Sector Scopes Monthly Review & Gold Continuous Contract (GC.F)

In this issue of Equity Leaders Weekly, we look at major breakouts for Gold and other precious metals, and take a monthly look at what the sector scopes are telling us about equity market sentiment and capital flows.

Nexgen Energy Ltd. – (NXE.TO)

Since breaking out of a $4.50-$6.00 sideways range back in the summer, NexGen Energy (NXE.TO) shares have remained under accumulation, with corrections being contained by higher lows above the 50-day moving average. Yesterday, the shares closed at a high on $8.00 and appear poised for a breakout.

Qualcomm Inc. (QCOM)

Qualcomm (QCOM), a producer of semiconductors for wireless communications, recently returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time since March. Yesterday, QCOM finished in 18th place, up 7 spots on the day and up 46 positions in the last month.

Canada Goose Holdings Inc. (GOOS.TO)

This three-year weekly chart highlights the strength of Friday’s big rally and massive breakout in Canada Goose (GOOS.TO) shares. After soaring 19.3% on a spike in volume, a signal of strong new bullish investor interest, the shares closed above $60.00 for the first time since May of 2019 and completed a 2 ½ year bullish Ascending Triangle base to signal the start of a new uptrend.

Nike Inc. (NKE)

Since bottoming out with the market in March of 2020, Nike (NKE) shares have been steadily advancing in a step pattern of rallies followed by periods of consolidation at higher levels. In recent weeks, the shares have started to climb again, regaining their 50-day average near $160.00 (which reverses polarity to become initial support) and breaking out to a new all-time high above $175.00 yesterday. Next potential upside resistance on trend appears in the $200.00 to $205.00 area where a round number and a measured move converge.

Russell 2000 Index (RLS.I) & SPDR S&P Retail ETF (XRT)

The turn of the calendar into November has brought equity markets into the most seasonally favorable time of the year, which runs more or less through April. In this issue of Equity Leaders Weekly, we look at the Russell 2000 Index and the retailing sector as indicators of increasing market breadth, and accelerating accumulation.

ATS Automation Tooling Systems Inc. (ATA.TO)

Throughout this year, ATS Automation Tooling Systems (ATA.TO) has been under accumulation, steadily advancing in a rising channel of higher highs and higher lows. This week the shares snapped a downtrend line, and rallied to a new all-time high on a jump in volume, indicating increased investor interest.

Franklin Resources Inc. (BEN)

Asset manager Franklin Resources (BEN) has soared up the rankings in the SIA S&P 500 Index Report since reporting positive earnings and announcing an acquisition, returning to the Green Favored Zone for the first time since July. The shares kicked off this week with a breakaway gap that snapped a downtrend line and have continued to rally, blasting through the top of their previous range to trade at their highest levels since early 2018.

KLA Corp. (KLAC)

Throughout 2021, KLA Corp. (KLAC) has been under accumulation with most corrections and downswings being contained at consistently higher lows, including one a few weeks ago, which helped to confirm the current uptrend. In the last few days price gains have accelerated on higher volume indicating increasing investor interest. Yesterday, the shares broke through $375 to a new all-time high, signaling the start of a new upleg.

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Broadcom Inc. (AVGO)

After soaring to start the year, Broadcom (AVGO) shares spent May to September in consolidation mode, trending sideways in two ranges first between $410 and $485, then between $475 and $510. Starting with a successful retest of $410 support in June, the shares had quietly come under renewed accumulation. This has become more apparent in the last two months with the shares completing two bullish Ascending Triangle breakouts, breaking out and holding above $500, plus their recent acceleration to new all-time highs.

Suncor Energy Inc. (SU.TO)

Suncor Energy staged a major breakout yesterday, gapping up on the open, regaining $30.00, and blasting through the top of the $21.50 to $31.50 trading range that had been in place since June, all on a spike in volume, indicting a surge of renewed bullish interest from investors and signaling the start of a new upleg within a larger recovery trend.

Dow Jones Industrial Average (DJI.I) & US Dollar/Canadian Dollar (USDCAD)

In this issue of Equity Leaders Weekly, we look at the implications of central bank decisions on the US Dollar / Canadian Dollar Exchange rate and provide an update on our discussion of Dow Theory from two weeks ago.

Hilton Worldwide Holdings Inc. (HLT)

Accumulation in Hilton Worldwide (HLT) shares continues to accelerate. Yesterday, the shares staged a major breakout, rallying up off of $135.00 support, which had previously been resistance, on a spike in volume, driving to a new all-time high, and forming a Bullish Engulfing candlestick pattern, all signaling the start of a new upleg.

Nvidia Corp. (NVDA)

Nvidia Corp. (NVDA)* staged a major breakout yesterday. For the last two months, the shares have been trending sideways between $200.00 and $230.00, consolidating a spring/summer advance. Yesterday, the shares gapped through resistance to a new all-time high on a jump in volume, competing a bullish Ascending Triangle pattern, signaling a surge in investor interest, and confirming the start of a new advance.

Advanced Micro Devices Inc. (AMD)

We don’t usually comment on stocks just before earnings reports, but the relative strength and technical action in computer chipmaker Advanced Micro Devices (AMD), who reports results after the close today, has been particularly intriguing. After climbing 13 spots yesterday and moving up 30 positions over the last month, AMD has returned to the Green Favored Zone of the SIA S&P 500 Index Report from a short dip into the yellow zone.

Finning International Inc. (FTT.TO)

Finning (FTT.TO) staged a major breakout last week. For six months, the shares had been stuck in a sideways range between $30.00 and $34.50, consolidating a previous advance that had started with a bullish ascending triangle breakout last November. In the last few days, the shares have attracted renewed interest from investors, climbing on increased volumes. The shares then staged a big breakaway gap breakout through the top of the range and have continued to climb to new highs.

Stantec Inc. (STN.TO)

A major breakout is underway in Stantec (STN.TO) shares. Yesterday, the shares rallied up off of their 50-day average, staged a breakaway gap to the upside and soared to a new all-time high on a spike in volume, all combining to indicate a surge in investor interest. Measured moves from recent trading ranges suggest potential upside resistance tests appear near $83.50 and then $84.25. Initial support appears at the bottom of the gap near $61.50.

S&P/TSX Composite Index (TSX.I) & Platinum Continuous Contract (PL.F)

Equities are coming off of a better week which saw major indices in the US and Canada bounce back. In this issue of Equity Leaders Weekly, we take a look at the forces driving recent gains in the S&P/TSX Composite Index and the price of Platinum, along with the implications of these moves.

Canadian National Railway Co. (CNR.TO)

A very bullish technical setup has emerged in Canadian National Railway (CNR.TO) shares. Yesterday, the shares surged upward, starting off with a bullish breakaway gap to the upside, then blasting through $160.00 to a new all-time high, signaling the start of a new advance

Enphase Energy Inc. (ENPH)

Enphase Energy (ENPH) shares have come under renewed accumulation since the start of this month. Rallying up off of a higher low near $145.00, the shares regained their 50-day average and have continued to climb. Yesterday, the shares broke through $180.00 resistance and snapped a downtrend line, confirming that a new upswing is underway.

Aritzia Inc. (ATZ.TO)

Since we last mentioned clothing retailer Aritzia* (ATZ.TO) in the August 25th issue of the Daily Stock Report, the shares have gained 24.1% and have remained near the top of the Green Favored Zone in the SIA S&P/TSX Composite Index Report. Yesterday, the shares moved up 5 positions to 2nd place.

Teck Resources Ltd. (TECK.B.TO)

After spending the summer stuck in a sideways consolidation range between $25.00 and $32.50, Teck Resources (TECK.B.TO) shares been under renewed accumulation since August. Earlier this month, the shares broke through $32.50, completing a bullish Ascending Triangle pattern and signaling the start of a new advance that has continued through to Friday’s record high close

Salesforce.com Inc. (CRM)

Over the last few months, the shares have generated a number of positive technical signals including snapping a downtrend line and then completing a series of bullish Double Top, Spread Double Top and Spread Triple Top breakouts. This week, the shares have broken through their September 2020 peak to new all-time highs, confirming that a new advance is underway.

Sector Scopes Monthly Review & Dow Jones Transportation Average (DTX.I)

In this issue of Equity Leaders Weekly, we take our monthly look at what the Sector Scopes are telling us about the market and at key levels for the transportation sector heading into a key week for earnings from the group.

Lithium Americas Corp. (LAC.TO)

Accumulation in Lithium Americas (LAC.TO) shares has accelerated dramatically this week. In the last two days, the shares have launched up, snapping a downtrend line, causing a bearish descending triangle pattern to fail, and breaking out to a new all-time high, all on a spike in volume. Combining these indicators signal the start of a new advance.

Cameco Corp. (CCO.TO)

Accumulation in Cameco Corp* (CCO.TO) resumed in a big way yesterday with the shares snapping a downtrend line and rallying on a spike in volume, a sign of renewed interest. Prior to this, a trading correction had been successfully contained above $25.00, were a round number, the 50-day moving average and a previous resistance level cluster.

CF Industries Holdings Inc (CF)

Fertilizer producer CF Industries (CF) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since June and continues to climb toward the top of the relative strength rankings. Yesterday it finished in 17th place up 6 spots on the day and up 341 positions in the last month.

Ford Motor Company (F)

Ford Motor Company (F) has attracted renewed interest recently. After peaking in June, Ford spent the summer under distribution as shown by the trend of lower highs, but in the last six weeks, bulls started to re-assert themselves, successfully defending $12.50, a former resistance level. In September, bulls started to gain the upper hand again with a breakout over $13.50 snapping a downtrend line and causing a bearish descending triangle pattern to fail. Since then, the shares have continued to climb and yesterday they broke out over $14.75 on increased volume, confirming the start of a new upswing.

Prudential Financial Inc. (PRU)

Prudential Financial (PRU) shares appear poised for a breakout. In a normal consolidation phase, the shares have been trending sideways in a $93.50 to $108.50 trading range since May, digesting an advance made earlier in the year. Last month, an attempt by bears to push the shares back under $100.00 support was quickly rejected and the shares have rebounded to retest the top of their current trading range.

Natural Gas Continuous Contract (NG.F) & iShares US Financials ETF (IYF)

It has been another rough week for equity markets around the world with big daily and even intraday swings in both directions. That being said, so far indices have held above key support levels, such as 2,100 for the Russell 2000, suggesting that we are currently in a downswing within a broader sideways trend. In this issue of Equity Leaders Weekly, we look at recent strength in the natural gas price and at renewed interest in US Financials as the start of earnings season approaches.

Bank of America Corp. (BAC)

A major breakout is underway in Bank of America shares. Since June, the shares have been trading between $36.50 and $43.50, consolidating gains made earlier in the year. Corrections were contained above the previous breakout point at the February 2020 peak, a sign of continuing underlying support. In the last couple of weeks, accumulation has resumed with the shares rallying up off a higher low. This week, the shares have broken out to a new all time high and have completed a bullish Ascending Triangle pattern, signaling the start of a new rally phase.

Whitecap Resources Inc. (WCP.TO)

Oil producer Whitecap Resources (WCP.TO) continues to climb within the Green Favored Zone of the SIA S&P/TSX Composite Index Report. Yesterday it finished in 11th place, up 4 spots on the day and up 154 positions in the last month as energy stocks continue to attract support from rising oil and natural gas prices.

Live Nation Entertainment Inc. (LYV)

Live Nation (LYV) shares staged a major breakout on Friday, blasting through the top of a $75.00 to $95.00 sideways trading range which had persisted for the last six months. The shares also reached a new high and completed a bullish Ascending Triangle breakout on a jump in volume, indicating increasing investor interest.

The Mosaic Company (MOS)

Over the course of the spring and summer, Fertilizer producer Mosaic Company (MOS) price action trends downshifted from an upward trend into a sideways consolidation range between $28.25 and $38.25. Following two successful tests of support at the bottom of this range, the shares have been on an upswing lately, breaking through $34.25, which has become new support, and rallying up above $35.00.

CBOE Interest Rate 10-Yr (TNX.I) & Crude Oil Continuous Contract (CL.F)

While much of the media focus in the last trading week of the quarter has been on the seasonal selloff across world stock markets, this trading action comes as part of a wider shift in capital flows and investment thinking. In this issue of Equity Leaders Weekly, we look at crude oil approaching a key technical turning point and at the implications of rising US traded interest rates.

Vermilion Energy Inc. (VET.TO)

A major breakout is underway in Vermilion Energy (VET.TO) shares which recently broke through $11.50 to reach their highest level since early 2020 and ending a six-month sideways consolidation phase.

Meg Energy Corp. (MEG.TO)

The recent increase in relative strength for the Energy sector relative to other industries was particularly clear yesterday when several Energy stocks were among the few gainers in yesterday’s market selloff. MEG Energy (MEG.TO), for example, with a gain of 1.25% yesterday and 19.8% in the last week, continued to move up within the Green Favored Zone of the SIA S&P/TSX Composite Index Report. Yesterday MEG.TO finished in 9th place up 3 spots on the day and up 100 places in the last month.

Tesla Motors Inc. (TSLA)

Recent renewed interest in the Energy sectors appears to have expanded into alternative energy related stocks as well. Electric vehicle producer Tesla Motors (TSLA) returned to the Green Favored Zone of the SIA S&P 100 Index Report, continuing a summer relative strength recovery. Yesterday the shares finished in 23rd place, up 6 spots on the day and up 33 spots in the last month.

Imperial Oil Ltd. (IMO.TO)

A summer correction in Imperial Oil (IMO.TO) has come to an end with the shares decisively turning back upward. Last week, the shares broke out over $36.50, completing a bullish Reverse Head and Shoulders base which had been forming since July. This neckline breakout builds on a successful retest of $30.00 support and the snapping of a downtrend line last month.

Interfor Corp. (IFP.TO)

Interfor Corp. (IFP.TO) shares have come back under accumulation since establishing a higher low near $23.50 back in August. Earlier this month, they snapped out of a downtrend and confirmed the start of a new upswing with a breakout over $30.00.

Cenovus Energy Inc. (CVE.TO)

With North American oil & gas producers bouncing back along with energy prices yesterday, Cenovus Energy (CVE.TO) continued to rebound within the SIA S&P/TSX 60 Index Report. Recovering from a summer drop into the red zone, the shares returned to the Green Favored Zone for the first time since July. Yesterday, CVE.TO finished in 14th place, up 8 spots on the day and up 29 spots in the last month.

Gold Continuous Contract (GC.F) & SPDR S&P 500 Retail ETF (XRT)

It has been a roller coaster ride for world markets in the last week. In this issue of Equity Leaders Weekly, we take a look at what action in gold is telling us about investor attitudes toward risk, and at the S&P 500 Retail ETF XRT.

FedEx Corp. (FDX)

FedEx (FDX) shares are trading down 5.9% this morning after the company reported disappointing earnings, but its relative strength has been deteriorating since July. Since exiting the green zone, the shares have been steadily falling down the rankings in the SIA S&P 500 Index Report and have lost about 10.4% of their value. In the last month, the shares have dropped 12 spots to 62nd place and have slumped into the Red Unfavored Zone.

Nucor Corp. (NUE)

With metals stocks coming under pressure yesterday as commodity prices fell, steelmaker Nucor (NUE) tumbled out of the green zone in the SIA S&P 500 Index Report and into the Yellow Neutral Zone for the first time since March. Yesterday the shares finished in 178th place, down 135 spots on the day, and down 177 spots in the last month.

Thermo Fisher Scientific Inc. (TMO)

Last month, shares of Thermo Fisher Scientific (TMO) broke through the top of their channel near $530, ending a consolidation phase and signaling the start of a new rally phase. Since then, the shares have continued to climb. On Friday, they gapped up to a new all-time high on a spike in volume, indicating increased investor interest.

ETSY Inc. (ETSY)

Since a correction bottomed out back in May, Etsy shares have been steadily recovering, establishing support at higher lows, snapping out of a downtrend and regaining $200.00. Earlier this month, the shares completed a bullish Ascending Triangle pattern breaking through $212.50 which has since reversed polarity to become initial support. Yesterday, the shares closed at their highest level since May and a breakout over $225.00 would confirm the start of a new upleg.

Methanex Corp. (MX.TO)

In August, shares of Methanex Corp. (MX.TO) completed a bullish Falling Wedge pattern, snapped out of a downtrend and confirmed the breakout by regaining $45.00. The shares have continued to climb into September and yesterday, they broke out over $50.00 to confirm their uptrend continues.

Global X Uranium ETF (URA) & iShares MSCI Hong Kong Index Fund (EWH)

The seasonal September slide for stocks that started last week has continued into this week. Although US markets bounced back a bit yesterday, overseas markets continued to trend downward. In this issue of Equity Leaders Weekly, we look what recent technical action in Chinese stocks could mean for global equities, and at renewed interest in the uranium market.

KLA Corp. (KLAC)

In the last few days, shares of KLA Corp. (KLAC) have been climbing on increasing volume, a sign of renewed accumulation. Yesterday, they broke out to a new all-time high, resolving a sideways consolidation channel to the upside and also completing a bullish Ascending Triangle pattern, signaling the start of a new rally phase.

Enerplus Corp. (ERF.TO)

Enerplus (ERF.TO) continues to turn the corner, closing at its highest level since July with a 6.6% one-day rally on increased volume (lower circle) indicating renewed investor interest. The shares have already snapped a downtrend line which signaled the start of their turnaround.

Tractor Supply Company (TSCO)

A major breakout is underway in Tractor Supply (TSCO) shares. TSCO spent half of the spring and most of the summer stuck in consolidation mode, trading between $170 and $200. Through this period, the shares remained above their longer-term uptrend support line, keeping it intact. In the last few days, accumulation has accelerated with the shares rallying up off of $190 on increasing volumes.

Moderna Inc. (MRNA)

A recent correction in Moderna (MRNA) shares appears to have run its course with support coming in near $350. Following a successful retest, accumulation appears to be resuming with the shares climbing back up above $450.

Sector Scopes Monthly Update & ISE Global Wind Energy Index (GWE.I)

The coming week is pretty quiet for economic and corporate news. The European Central Bank meets today which investors may look to for hints on whether tapering is on the table for this year or not. Next week’s calendar is dominated by inflation, retail sales and industrial production reports from Canada, the US and China. In this issue of Equity Leaders Weekly, we look out monthly look at Sector Scopes and at what trading action in the alternative energy sector is telling us about investor sentiment and rolling takedowns.

GFL Environmental Inc. (GFL.TO)

Yesterday, the shares of GFL Environmental Inc. (GFL.TO) touched a new intraday high. A close above $45.80 would confirm the completion of a bullish Ascending Triangle pattern and the start of a new advance.

Caesars Entertainment Inc. (CZR)

Casino and hotel operator Caesars Entertainment (CZR) has been climbing back up the rankings in the SIA S&P 500 Index Report in recent weeks, returning to the Green Favored Zone. Yesterday, the shares finished in 89th place, up 33 spots on the day and up 260 spots in the last month. The technical picture for Caesars Entertainment (CZR) has started to improve in recent weeks.

Teck Resources Ltd. (TECK.B.TO)

On Friday, the shares of Teck Resources Ltd. (TECK.B.TO) staged a significant breakout, closing above $30.00 for the first time since June, to signal that the recent consolidation phase has ended and accumulation has resumed.

Cameco Corp. (CCO.TO)

Uranium miner Cameco soared up the rankings in the SIA S&P/TSX 60 Index Report yesterday, climbing directly from the red zone to the Green Favored Zone by jumping 34 spots to 8th place in a single session.

US Large Caps Versus International Markets and US Small Caps & Dow Jones Utilities Average (DUX.I)

September, historically the weakest month of the year for equities, has arrived with US investors still in a good mood following last week’s comments from Fed Chair Powell who didn’t say anything in his big Jackson Hole speech about tapering stimulus leaving investors to assume that the easy money party may continue for a while yet. In this issue of Equity Leaders Weekly, we look at breath and concentration issues in the current US market rally and at what gains in the US utilities sector is telling us about investor sentiment.

Nexgen Energy Ltd. (NXE.TO)

Uranium stocks have been rising back up the rankings in the S&P/TSX Composite Index Report lately. In the last week, explorer Nexgen Energy has soared up from the red zone to the Green Favored Zone, rising 103 places in the last week to 14th place including a rise of 7 spots yesterday.

ATS Automation Tooling Systems Inc. – (ATA.TO)

Shares of ATS Automation Tooling Systems Inc. (ATA.TO) have remained strong, and the uptrend has continued into new all-time highs. The shares currently sit in the #5 spot in the favored zone of SIA S&P/TSX Composite Index Report. With yesterday’s closing price of $45.62 this represents an 45.6% increase since we last commented on it when it entered the favored zone two and a half months ago.

Simon Property Group Inc. (SPG)

Shares of Simon Property Group Inc. (SPG) look to be testing some important resistance at approximately the $135.00 area. If price can break above this area, it could signal the end of the sideways pattern that the shares have been in since early June and another potential upleg may resume. Support for the shares can be found at the $118.00 level.

OpenText Corp. (OTEX.TO)

OpenText Corp. (OTEX.TO), has been consistently advancing as of late within the S&P/TSX 60 Report. Currently ranked 23rd, OTEX.TO shares have moved up 31 spots over the past quarter and 20 spots over the past month, and they have returned 22.27% over the past 3 months..

Atlassian Corp. (TEAM)

On June 29th, 2021, Australian software company Atlassian Corp. (TEAM) blew away its earnings estimate of -0.087 and reported 0.24 earnings per share (EPS). The stock gapped up 16% at the open and has continued to show strength to the upside since then.

Adobe Systems Inc. (ADBE)

We last looked at Adobe Systems Inc. (ADBE) in the June 15th, 2021 Daily Stock Report when it had just entered the Neutral Zone of the SIA S&P100 Index Report at a price of $556.95. Today, we see that the shares have continued to remain strong and currently sit in the #11 spot in the Favored Zone of the Report.

Russell 2000 Index (RLS.I) & S&P/TSX Capped Financial Index (TTFS.I)

In this issue of Equity Leaders Weekly, we look at how the strength of the US economy does not seem to be coming from the small cap stocks, while in Canada, the Big Banks continue to post exceptional earnings which has drawn the eye of new potential taxes against the Canadian Financial sector announced by Trudeau as part of his parties’ campaign.

Aritzia Inc. (ATZ.TO)

In looking at the Candlestick chart of Aritzia Inc. (ATZ.TO), we see that the shares peaked at the $40.00 area, pulled back somewhat to the $38.00 area but reversed to the upside and is now on the verge of another new all-time high. Support can now be found at the $37.50 round number and, below that, approximately the $32.50 level. Resistance is at around the $43.00 level.

Labrador Iron Ore Royalty Corp. (LIF.TO)

Miner Labrador Iron Ore (LIF.TO) recently dropped out of the green zone in the SIA S&P/TSX Composite Index Report for the first time since last December, falling into the Yellow Neutral Zone. Yesterday, the shares finished in 79th place down 9 spots on the day and down 77 places in the last month. Over the 8 months LIF.TO was in the green zone, it returned 30.0%.

Cadence Design Systems Inc. (CDNS)

Last week, the shares of Cadence Design Systems (CDNS) broke out to new highs over $150 on volume, completing another bullish Ascending Triangle pattern, indicating increased investor interest and signaling the start of a new advance.

Lululemon Athletica Inc. (LULU)

Shares of Lululemon Athletica Inc. (LULU) have been steadily climbing out of the red unfavored zone where they have spent the better part of 2021. After moving up 49 spots over the past quarter and 24 spots over the last month, the shares sit just outside of the Green Favored Zone at a current rank of 28 within the NASDAQ 100 Index Report.

United States/Canadian Dollar (USDCAD) & Copper Continuous Contract (HG.F)

The middle of August to the middle of October has historically been the weakest and most volatile time of the year for stock markets over the last century. In this issue of Equity Leaders Weekly, we look at what a rising US Dollar and a falling Copper price are telling us about investor attitudes and expectations.

Gildan Activewear Inc. (GIL.TO)

For almost a year, athletic clothing producer Gildan Activewear (GIL.TO) has been in the Green Favored Zone of the SIA S&P/TSX 60 Index Report, gaining 85.7% over that time. Yesterday, the shares climbed up to top spot in the report for the first time after moving up 3 places on the day.

Nutrien Ltd. (NTR.TO)

Since January the world’s largest fertilizer producer, Nutrien Ltd’s shares have continued to remain firm and currently re-entered the Green Favored Zone of the SIA/TSX 60 Index Report at the #15 spot after spending brief periods of time in the Neutral Zone while still holding its positive SMAX score throughout.

Pfizer Inc. (PFE)

4 months ago, Drug company Pfizer Inc. (PFE) sat at the bottom of the SIA S&P 100 Index Report and has not been included in the Green Favored Zone since January of 2019. However after moving up 60 spots over the last month and 57 spots over the last quarter, Pfizer shares sit just 3 slots outside of that Green Favored Zone currently in the 29th spot.

Shopify Inc. (SHOP.TO)

In today’s edition of the Daily Stock Report we take a look at Shopify Inc. (SHOP.TO). Shopify offers an e-commerce platform primarily to small and midsize businesses. The firm has two segments: Subscription Solutions and Merchant Solutions. We last looked at Shopify in the June 17, 2021 edition of the Daily Stock Report when the shares rallied out of the Red Zone into the Yellow Neutral Zone of the SIA S&P/TSX 60 Index Report with a price of $1670.47.

Emerson Electric Co (EMR)

Emerson Electric Co (EMR) moved into the Favored Zone of the SIA S&P 100 Index Report back on Nov 23, 2020, at a price of $77.81. Today the shares are at $104.11 representing a 33.8% price appreciation since then. Currently, it occupies the #19 spot in the SIA S&P 100 Index Report.

Crude Oil Futures Contract (CL.F) & S&P/TSX Composite Index (TSX.I)

In this issue of Equity Leaders Weekly, we take a look at how Crude Oil has performed over the last year and half and how that has affected the Canadian Market with analysis on the S&P/TSX Composite Index.

Capital One Financial (COF)

Capital One Financial Corp. (COF) has consistently been in the Green Favored Zone of the SIA Russell 1000 large cap Index Report since December 2020, with the shares up 77.11% over that time. Yesterday, they moved up 4 spots to 23rd place.

AltaGas Ltd. (ALA.TO)

Currently, AltaGas (ALA.TO occupies the 16th spot in the SIA TSX Composite Index Report. In analyzing the Candlestick Chart, we see the shares have recently broke above some significant long term resistance at approximately the $25.50 price level signaling a potential move higher to try and test the prior high at the $31.50 area, which we haven’t seen since 2015.

Paycom Software Inc (PAYC)

We last reported on Paycom Software (PAYC) in the October 5th, 2020 edition of the DSR. At that time PAYC had returned to the Green Zone for the first time since July after moving up 200 places and rising from the red zone to the Green Favored Zone. In the last few days, they have come under renewed accumulation, forming an unconfirmed Bullish Double Top pattern.

Power Corp. (POW.TO)

Power Corp (POW.TO) first entered the Green Favored Zone of the SIA TSX Composite Index report earlier this year on April 13th at a price of $34.29. After Friday’s close the shares were at $41.44 representing a 20.85% price appreciation since first entering the favored zone. A brief and shallow pullback occurred earlier this summer but now we see a significant breakout occur at its previous high near $40.00 with a another potential new upleg forming. Support can be found at the prior high near $40.00 while resistance is near the $48.00 area.

Thomson Reuters (TRI.TO)

Back in February, a breakaway gap on volume signaled a positive shift in sentiment toward Thomson Reuters (TRI.TO) shares. Since then, the shares have been under steady accumulation, completing two bullish Ascending Triangle patterns, closing every day above their 50-day moving average and establishing an uptrend of consistently higher lows.

Under Armour Inc. – (UAA)

Boosted by a 4.9% one-day gain, clothing producer Under Armor (UAA) popped up into the Green Favored Zone of the SIA S&P 500 Index Report from the red zone in a single day. The shares finished in 127th place, up 165 spots on the day and 200 spots in the last month.

ISE Homebuilders Index (RUF.I) & VanEck Vectors Steel Index ETF (SLX)

In this issue of Equity Leaders Weekly, we take a look at how capital has started to return to sectors traditionally aligned with overall economic growth, revisiting the homebuilding (Consumer Discretionary) and steel (Materials) sectors.

Nucor Corp. (NUE)

Signs of accumulation resuming have started to emerge with Nucor Corp (NUE) shares as they regained its 50-day average near $98.75 and the $100.00 round number, which has reversed polarity to become a new initial support range. It would take a breakout over $110.00 to signal the start of a new upleg.

Advanced Micro Devices Inc. (AMD)

A major breakout is underway in Advanced Micro Devices (AMD) shares. After staging a strong rally in the summer of 2020. In the last few days, the shares have blasted through the top of the range on high volume, indicating a surge in investor interest, and have confirmed the breakout with a move above $100.00, signaling the start of a new advance.

The Descartes Systems Group Inc. – (DSG.TO)

Logistics software producer Descartes Systems Group (DSG.TO) recently returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report for the first time since last October. The shares continue to climb up the rankings, having moved up 2 spots yesterday and 35 places in the last month to 39th place.

iShares NASDAQ Biotech Index Fund (IBB) & iShares US Industrials ETF (IYJ)

In this issue of Equity Leaders Weekly, we look at the Biotechnology and Industrials sectors as examples of ongoing changes in equity sector leadership as we move through the summer.

Equitable Group Inc. (EQB.TO)

Branchless bank Equitable Group (EQB.TO) has returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report from a brief dip into the yellow zone. The shares finished yesterday in 57th place up 1 spot on the day and up 11 places in the last month.

Aptiv PLC (APTV)

Auto parts producer Aptiv (APTV) continues its steady climb back up the rankings in the SIA S&P 500 Index Report recently returning to the Green Favored Zone for the first time since March. Yesterday, the shares finished in 92nd place, up 7 spots on the day and up 60 places in the last month.

PerkinElmer Inc. (PKI)

Medical diagnostic test producer PerkinElmer (PKI) returned to the Green Favored Zone of the SIA S&P 500 Index Report yesterday for the first time since February. It’s current climb up the rankings, which started from deep in the red zone back in May, continues with the shares finishing yesterday in 120th place, up 27 spots on the day and up 112 places in the last month.

PTC Inc. (PTC)

Engineering and manufacturing software producer PTC Inc. joined the SIA S&P 500 Index Report back in April. For the second time in less than a year, PTC shares have staged a major breakout. Just as they did back in November, this week the shares have rallied to a new all-time high and completed a bullish Ascending Triangle pattern to signal the start of a new advance.

Monolithic Power Systems Inc. (MPWR)

For the last six months, Monolithic Power Systems (MPWR), producer of power modules for semiconductors has been stuck in a sideways trading range between $300 and $400, consolidating previous gains. Since the last successful test of the channel bottom near $300, the shares have been under renewed accumulation, consistently climbing back up to the top of their range.

Russell 2000 Index (RLS.I) & Wheat Continuous Contract (W.F)

In this issue of Equity Leaders Weekly, we look at the implications of the Russell 2000 passing a key technical test this week, and at what recent action in the price of wheat is telling us about inflation heading into next week’s Fed meeting.

Colliers International Group Inc. (CIGI.TO)

Colliers International (CIGI.TO) shares have been under accumulation, establishing an upward trend of higher lows and completing a series of bullish Ascending Triangle breakouts as it climbs in a step pattern. recently returning to the Green Favored Zone of the SIA S&P/TSX Composite Index Report from a dip down into the yellow zone. Yesterday, Colliers finished in 44th place, up 7 spots on the day and up 18 spots in the last week.

Dover Corp. (DOV)

Dover Corp. (DOV) staged a major breakout yesterday, blasting through the top of a $143 to $155 consolidation range which had been in place since April to a new all-time high. This move occurred on a spike in volume, indicating increased investor interest and the start of a new advance.

Bank of America (BAC)

Less than a week after reporting strong quarterly results, Bank of America (BAC) has dropped out of the green zone of the SIA S&P 100 Index report into the Yellow Neutral Zone for the first time since February as traders continue to take profits against the news. Yesterday the shares finished in 26th place, down one spot on the day and down 12 places in the last month.

Marathon Petroleum Corp. (MPC)

The recovery trend in Marathon Petroleum (MPC) shares which started with a breakaway gap last October, appears to have run out of steam for now. The shares were unable to overcome previous resistance near $65.00 last month. In the last two weeks, the shares appear to have come under distribution, falling on increasing volumes, snapping an uptrend line and diving back under $60.00.

Apple Inc. (AAPL)

A major breakout is underway in Apple (AAPL) this week with the shares blasting through $145 to a new all time high, with the completion of a bullish Ascending Triangle ending a consolidation phase and signaling the start of a new advance. This move also indicates that the uptrend which started back in March of 2020 but slowed earlier this year has resumed in earnest.

S&P 100 Index (OEX.I) vs. Russell 2000 Index (RLS.I) & Dow Jones Transportation Average (DTX.I) + iShares US Energy ETF (IYE)

In this issue of Equity Leaders Weekly, we look at what diverging index action in the US is telling us about investor sentiment, and at recent cracks in the energy sector.

Estee Lauder Companies Inc. (EL)

A major breakout is underway in Estee Lauder (EL) shares. For over a year, the shares have been trending upward in a step pattern of rallies followed by periods of consolidation at higher levels. Consistently higher lows indicate steady accumulation and consistent investor support.

Boardwalk REIT (BEI.UN.TO)

Boardwalk REIT has returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report for the first time since 2018. Since bottoming out in March of 2020, shares have been steadily recovering lost ground, advancing in a step pattern of rallies followed by consolidation at higher levels, and completing a series of bullish Ascending Triangle patterns.

Albemarle Corp. (ALB)

Back in May, Albemarle (ALB) shares broke out of a Symmetrical Triangle which suggested they were resuming a long-term uptrend after a correction. Yesterday, the shares blasted through two resistance levels, including their previous peak set back in January to a new all-time high on a big jump in volume, completing two bullish Ascending Triangle patterns, indicating strong new investor interest and signaling the start of a new advance.

Cominar REIT (CUF.UN.TO)

Diversified property owner (retail, industrial, commercial) Cominar REIT (CUF.UN.TO) has returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report for the first time since a short blip in March of 2020. The chart shows that since 2008 CUF.UN.TO has spent most of its time in the yellow or red zones, so this move appears particularly significant. In general, real estate companies have been climbing up the rankings in their broad market reports recently.

FirstService Corp. (FSV.TO)

A major breakout is underway in FirstService (FSV.TO) shares. Back in April, the shares peaked between a $216 closing high and a $220 intraday high. Since then, the shares have been in consolidation mode but through that, the establishment of higher lows has signaled that underlying accumulation continues. The shares have now closed above $216 and moved intraday above $220 indicating growing interest, a close above 220 would complete a bullish Ascending Triangle and confirm the start of a new upleg.

BPI/Sector Scopes Monthly Update & iShares PHLX Semiconductor Index Fund (SOXX)

Between the end of the quarter, the start of summer and holidays in the US and Canada, the last week has been one of the quietest for equity markets in a long time. The coming ten days, however, have the potential to be quite different, as we move into July earnings season which historically has seen equities bounce back from spring corrections. In this issue of Equity Leaders Weekly, we take our monthly look at the Sector Scopes feature, and at what recent gains for the semiconductor sector are telling us about investor sentiment.

Oracle Corp. (ORCL)

Oracle Corp (ORCL) has returned to the Green Favored Zone in the SIA S&P 100 Index Report for the first time in nearly a decade, since 2011 after climbing 4 spots yesterday and 8 spots in the last week to 34rd place. Since the start of this month, shares have been attracting new interest from investors, rallying up off of their 50-day moving average on increasing volumes. Yesterday, the shares staged a major breakout, blasting through $85.00 to a new all-time high, completing a bullish Ascending Triangle pattern and signaling the start of a new upleg.

Microsoft Corp. (MSFT)

Microsoft (MSFT) has broken out of a relative strength downtrend, recently climbing toward the top of the Yellow Neutral Zone in the SIA S&P 100 Index Report. Completing a bullish Ascending Triangle with a breakout over $230.00, shares have not looked back, establishing an uptrend of higher lows through the first half of 2021. Recently, the shares embarked on a new upleg with another bullish Ascending Triangle breakout over $262.50, which has continued through yesterday’s all-time high close near $277.75.

Whitecap Resources Inc. (WCP.TO)

Earlier this year, Whitecap Resources (WCP.TO) snapped out of a downtrend which had started back in 2017. Since March, however, the shares have been consolidating previous gains in the $5.00 to $6.75. Through this pause, a bullish ascending triangle of higher lows below $6.75 has been building, a sign that underlying accumulation remains intact.

Gildan Activewear (GIL.TO)

Since bottoming out in March of 2020, Gildan Activewear* (GIL.TO) shares have been under steady accumulation, climbing in a rising channel of higher highs and higher lows. The shares have also completed a series of bullish Ascending Triangle breakouts, including one over $45.00 last week that signaled the start of another upleg.

ConocoPhillips (COP)

Integrated energy giant ConocoPhillips (COP) recently returned to the Green Favored Zone in the SIA S&P 500 Index Report from a drop into the red zone. COP continues to climb up the rankings, finishing yesterday in 80th place, up 25 spots on the day and up 135 spots in the last month.

Zebra Technologies Corp (ZBRA)

Inventory scanning, tracking and management technology producer Zebra Technologies (ZBRA) continues to climb within the Green Favored Zone of the SIA S&P 500 Index Report, bouncing back from a dip into the yellow zone. Yesterday the shares climbed 28 spots to 75th place and they have moved up 65 places in the last month.

Enphase Energy Inc. (ENPH)

Participating in a solar stock surge, Enphase Energy (ENPH) has returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since March. A 7.4% gain yesterday propelled the shares up 95 spots to 52nd place. In the last month, the shares have climbed 281 places, rising up from the bottom of the red zone.

Occidental Petroleum Corp. (OXY)

Occidental Petroleum (OXY) continues to steadily march toward the top of the Green Favored Zone of the SIA S&P 500 Index Report. On Friday, the shares finished in 7th place, up 3 spots on the day and up 245 places in the last month.

Spin Master Corp. (TOY.TO)

Toymaker Spin Master (TOY.TO) recently embarked on a new upswing within the Green Favored Zone of the SIA S&P/TSX Composite Index Report. Yesterday it finished in 17th place, up 10 spots on the day. Since we last mentioned Spin Master in the March 3rd issue of the Daily Stock Report, the shares are up $36.01.

PayPal Holdings Inc (PYPL)

Paypal Holdings (PYPL) has returned to the Green Favored Zone in the SIA S&P 100 Index Report for the first time since March, having rallied back up out of the red zone in recent days. Yesterday PYPL finished in 23rd place, up 4 spots on the day and up 31 places in the last month. Recently, the shares broke out of this range to the upside on volume, completing a bullish Ascending Triangle.

NASDAQ Internet Index (QNET.I) & Dow Jones Transportation Average (DTX.I)

In this issue of Equity Leaders Weekly, we look at the internet and transportation sectors as examples of capital rotation within North American Equity Markets. In particular note how the theme of significant divergences continues to play out, which can impact indices differently depending on their composition.

Live Nation Entertainment (LYV)

Concert promoter Live Nation (LYV) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report and continues to rise up the rankings. Yesterday it finished in 77th spot, up 30 places on the day and up 137 places in the last month.

Dream Office REIT (D.UN.TO)

Like many stocks, Dream Office REIT (D.UN.TO) fell off a cliff when stock markets crashed in early 2020. Dream then spent 15 months building a base for recovery. Recent trading suggests that accumulation has finally resumed. Earlier this month, the units broke out over $22.50 completing a bullish Ascending Triangle pattern and signaling the start of a new uptrend.

Generac Holdings Inc. (GNRC)

Generac Holdings (GNRC), a producer of household backup power generators, joined the SIA S&P 500 Index Report back in March. Recently, the shares broke out of the $285 to $365 area where they had been consolidating since February, signaling that resistance has been overcome and a new advance has commenced.

Lightspeed POS Inc. (LSPD.TO)

A significant breakout is underway in Lightspeed POS (LSPD.TO) shares. For the last three months, the shares have been trending sideways between $67.00 and $93.50, digesting gains made in a previous rally. Yesterday, the shares broke out over $93.50 completing a bullish Ascending Triangle pattern and signaling the start of a new advance.

Shopify Inc. (SHOP.TO)

A significant breakout is underway in Shopify (SHOP.TO) shares. Last month, a downswing in the shares was contained by an underlying longer-term uptrend support line. Since then, the shares have been recovering and this week they cleared $1,600 on an uptick in volume, indicating renewed accumulation and confirming the start of a new upswing.

iShares MSCI Emerging Markets ETF (EEM) & ISE Homebuilders Index (RUF.I)

Equity markets continue to grind their way sideways. With summer approaching and corporate news in between earnings seasons, investors appear to be marking time waiting for the next big catalyst to appear. In this issue of Equity Leaders Weekly, we explore differences in investor sentiment within equities with a look at the US homebuilding sectors and at emerging markets.

Diamondback Energy Inc. (FANG)

Diamondback Energy (FANG) has broken out over $85.00, signaling the start of a new upleg within a recovery trend that started in earnest last fall and was confirmed by the snapping out of a downtrend back in January.

Adobe Systems Inc. (ADBE)

Adobe Systems (ADBE) spent the last nine months stuck in a sideways trading range between $420 and $535. In the last few days, the shares have come under renewed accumulation, climbing on increasing volumes and have broken out to the upside, rallying to new all-time highs. This breakout has signaled the end of the recent consolidation phase and the start of a new rally phase.

Interpublic Group Inc. (IPG)

The relative strength trend of advertising and marketing company Interpublic Group (IPG) has improved dramatically over the last year. Shares have been under steady accumulation, breaking through $22.50, a multi-year resistance level to confirm the start of a new uptrend, and consistently advancing from there. On Friday, they closed at a new all-time high, confirming ongoing investor interest.

Transcontinental Inc. (TCL.A.TO)

Transcontinental (TCL.A.TO) has a major breakout underway this week with the shares rallying up off of $2.00, overcoming $24.50 resistance and regaining the $25.00 level on an increase in volume, all combining to indicate that accumulation has accelerated

CBOE Interest Rate 10-Year (TNX.I) & BPI/Sector Scopes Monthly Update

In this issue of Equity Leaders Weekly, we take a our monthly look at the Sector Scopes Report, and the importance of recent movements in the US 10-year treasury note yield.

ATS Automation Tooling Systems Inc. (ATA.TO)

ATS appears to be benefitting from increased interest in manufacturing technology this week after the US Senate passed a $250B spending package to support US semiconductor manufacturing and improve manufacturing technology for other sectors as well. Since we last mentioned ATS in the February 17th issue of the Daily Stock Report, the shares are up 14.3%. The S&P/TSX Composite Index is up 8.1% over the same time frame.

Cenovus Energy (CVE.TO)

This three-year Cenovus Energy (CVE.TO) chart provides two textbook examples of how support and resistance levels can reverse polarity or toggle back and forth once broken. Cenovus spent two months trading between $9.00 support (a former resistance level) and $10.75 resistance (a former support level), before recently embarking on a new upleg with a breakout.

General Motors (GM)

Over the last six months, shares of General Motors* (GM) have steadily advanced in a step pattern of rallies followed by periods of consolidation at higher levels. Last Friday, the shares broke out over $63.50 to a new high on a jump in volume, indicating a surge in interest from investors and signaling the start of a new rally phase.

eBay Inc. (EBAY)

After climbing four spots on Friday and 36 spots in the last month, online retailer eBay (EBAY) has returned to the Green Favored Zone of the SIA NASDAQ 100 Index Report. An all-time high close for eBay on Friday above $65.00 has completed a bullish Ascending Triangle breakout for the second time this year, signaling the start of a new upleg.

Halliburton Co. (HAL)

After spending three years from early 2017 to early 2020 in the red unfavored zone of the SIA S&P 500 Index Report, oilfield service provider Halliburton (HAL) has spent most of the last year in the Green Favored Zone. Yesterday, HAL finished in 102nd place, up 21 spots on the day and up 274 spots in the last month.

Carnival Corp. (CCL)

Back in February, Carnival Corp. (CCL) shares completed a bullish Ascending Triangle base with a breakout over $25.00. Yesterday, the shares blasted through the top of that trading range to signal the start of a new upleg within the recovery trend that started in March of 2020.

Crude Oil Continuous Contract (CL.F) & S&P/TSX Capped Materials Industry Index (TTMT.I)

In this issue of Equity Leaders Weekly, we look at some of the factors and sectors which have been underpinning recent gains in the S&P/TSX including the price of crude oil and the materials sector.

Devon Energy Corp. (DVN)

In just four months between November and March, Devon Energy (DVN) rocketed up from the bottom of the red zone to the top of the Green Favored Zone in the SIA S&P 500 Index Report. With oil prices on the rise and energy stocks attracting renewed interest lately, Devon Energy has returned to top spot in the report after rising 11 places yesterday and 195 places over the last month.

Lithium Americas Corp. (LAC.TO)

Miner Lithium Americas (LAC.TO) has rocketed up the rankings in the SIA S&P/TSX Composite Index Report in the last few days climbing up out of the red zone and entering the Green Favored Zone for the first time since joining the index back in March. Yesterday, LAC.TO finished in 53rd place, up 17 spots on the day and up 126 spots in the last week.

Endeavour Silver Corp. (EDR.TO)

A major breakout is underway in Endeavour Silver (EDR.TO) shares which have ended a consolidation phase and started a new advance with a breakout over $8.50 that has completed a bullish Ascending Triangle pattern and confirmed that the underlying uptrend which started six months ago remains intact.

HR Real Estate INV Trust (HR.UN.TO)

On the completion of a bullish Ascending Triangle base last fall, H&R REIT (HR.UN.TO) units soared for a few weeks, then took a few steps backward. Since establishing support near $12.00 back in February, the units have settled into a steady upward trend, advancing in a rising channel of higher highs and higher lows, trending above their 50-day average.

NASDAQ Composite Index (NASD.I) & Silver Continuous Contract (SI.F)

Upward and downward swings seen in several markets over the last week have provided additional evidence to suggest that a common seasonal consolidation phase has commenced. In this issue of Equity Leaders Weekly, we look at how the NASDAQ and how it appears to be pointing towards a sideways spring and at Silver Futures and the recent resurgence in precious metals.

Ford Motor Company (F)

At yesterday’s Investor Day, Ford Motor Company (F) announced it is stepping up investment in electric vehicles to $30B over the coming five years which sparked an 8.5% gain in the share price. Not only have Ford shares recovered lost ground over the past year, trading volumes have remained significantly higher since the March 2020 lows, indicating increased investor interest.

Caesars Entertainment Inc. (CZR)

After joining the SIA S&P 500 Index Report back in March, hotel and casino company Caesars Entertainment (CZR) briefly dipped into the yellow zone but since late April, CZR has been steadily climbing up the rankings within the Green Favored Zone. Yesterday the shares finished in 27th place, up 15 spots on the day and up 110 spots in the last month.

Morgan Stanley (MS)

Morgan Stanley* (MS) climbed two spots within the SIA S&P 100 Index Report to finish in 7th place. Since returning to the Green Favored Zone in November of 2020, MS shares have gained 52.5%. Yesterday, the shares broke out to a new all-time high signaling the start of a new rally phase that would be confirmed by a breakout over the $90.00 round number.

Canadian Western Bank (CWB.TO)

A major, multi-year breakout is underway in Canadian Western Bank (CWB.TO) shares. For the last year, the shares have been clawing back their COVID Crash losses, advancing in a rising channel of higher highs and higher lows. This month, the shares have completed their recovery and have broken out to the upside, clearing $35.00 to complete a massive Ascending Triangle base, and breaking out to their highest level in over three years, signaling the start of a new advance.

Grayscale Bitcoin Trust (GBTC) & Sector Scopes / BPI Update

Stock markets struggles into May have broadened out into other asset classes in the last week, suggesting that following a huge run over the last year, we may be seeing a trading correction or retrenchment unfold. In this issue of Equity Leaders Weekly, we look at recent action in Bitcoin and relative strength among equity market sectors as indicators of the current state of investor sentiment.

Target Corp. (TGT)

Boosted by a stronger than expected earnings report, US retailer Target (TGT) rallied 6.0% yesterday and climbed three spots within the Green Favored Zone of the SIA S&P 100 Index Report to 13th place. Since last summer, Target shares have been steadily advancing in a step pattern of rallies followed by periods of consolidation at higher levels.

CVS Health Corp. (CVS)

Drugstore chain CVS Health (CVS) has seen its relative strength improve significantly recently, this month, the shares have snapped out a long-term downtrend within the SIA S&P 100 Index Report and have moved up into the Yellow Neutral Zone from the red zone for the first time since January of 2020. Yesterday, CVS finished in 37th place, up 12 places on the day and up 37 places in the last month.

Meg Energy Corp. (MEG.TO)

Earlier this year, MEG Energy (MEG.TO) snapped out of a long-term downtrend with a breakout over $6.00, which has since established as support through multiple tests. A trading range has emerged between there and $8.00 initial resistance over the last three months. Within that range, the shares have been climbing, suggesting that accumulation has resumed, but a breakout over $8.00 remains needed to confirm that and signal the start of a new upleg within a larger upward trend.

SNC Lavalin Group (SNC.TO)

Following last year’s stock market collapse, SNC Lavalin (SNC.TO) spent the rest of 2020 stuck in a sideways trading range between $17.50 and $26.50. Since the start of this year, the shares have come under renewed accumulation, shown most clearly last week with the shares launching upward off of their 50-day moving average and breaking out over $30.00 on an increase in volume.

Canadian Tire Corp. (CTC.A.TO)

For over a year, Canadian Tire* (CTC.A.TO) shares have been under steady accumulation, advancing in a step pattern of rallies followed by periods of consolidation at higher levels. Last fall, the shares broke out over $150.00, overcoming resistance that had been in place since 2018 and completed a bullish Ascending Triangle base, confirming the start of a new uptrend. The shares continue to attract new interest, this week breaking out over $200.00 on increased volume.

Canadian Dollar SIA Forex Comparative Performance & Russell 2000 Index (RLS.I)

Changing sentiment and expectations can be clearly seen in this week’s changes in the SIA Charts Asset Class Rankings. Commodities has jumped up to 1st place, resource-sensitive CAD Equity is steady in 2nd place, while US and International Equity have dropped down in the rankings. In this issue of Equity Leaders Weekly, we look at recent broad-based strength in the Canadian Dollar and at the implications of a breakdown in the Russell 2000.

Tesla Motors Inc. – (TSLA)

Tesla Motors (TSLA) shares have turned decisively downward this week. Cracks in the previous uptrend first started to appear back in February then the shares broke below their 50-day moving average, then in an April bounce, they peaked at a lower high. This week, the shares have snapped an uptrend line and then confirmed the start of a new downtrend by falling below the $600 round number and taking out several winter weekly closes to complete a bearish Descending Triangle pattern.

ERO Copper Corp. (ERO.TO)

For over a year, ERO Copper (ERO.TO) has been under accumulation, steadily advancing in a rising channel of higher highs and higher lows. In the last two weeks, accumulation has accelerated with the shares breaking out over their 2019 peak to new all-time highs on increased volume and completing a bullish Ascending Triangle pattern to signal the start of a new advance.

Enerplus Corp. (ERF.TO)

Positive technical signals continue to mount in Enerplus (ERF.TO) shares. Back in the winter, Enerplus completed a bullish Ascending Triangle base pattern and then snapped a downtrend line. In recent weeks, the shares had been consolidating between $6.00 and $7.50. Yesterday, the shares broke out to the upside once again, signaling the start of a new upleg.

Cameco Corp. (CCO.TO)

Uranium producer Cameco (CCO.TO) has started to climb once again within the Green Favored zone of the SIA S&P/TSX 60 Index Report. Last week, the shares staged a major breakout, rallying up off of successful tests of trend support and the 50-day average, breaking through $24.00 to a new multi-year high and signaling the start of a new upleg.

Arc Resources Ltd. (ARX.TO)

Accumulation in Arc shares has accelerated in recent weeks with the shares climbing on rising volumes, a sign of increasing investor interest. This week, the shares have broken out over $8.50 to their highest level since early 2019, confirming recent bullish Ascending Triangle breakouts over $7.00 and $8.00 and signaling the start of a new upleg in the current recovery trend.

Crude Oil Continuous Contract (CL.F) & Rough Rice Continuous Contract (RR.F)

The arrival of May has brought renewed interest in stocks and particularly commodities, with catchup/reopening plays and small caps attracting particular attention. In this issue of Equity Leaders Weekly, we look at recent strength in the prices of oil and rice, and what that means for markets.

Nexgen Energy Ltd. – (NXE.TO)

In the April 8th issue of Equity Leaders Weekly, we mentioned that the price of uranium was starting to climb, and yesterday we saw this commodity price recovery translate over into gains for uranium stocks such as Nexgen Energy (NXE.TO)

Tourmaline Oil Corp. (TOU.TO)

This five-year weekly chart highlights the strength of the current recovery trend in Tourmaline Oil* (TOU.TO) shares. Since snapping out of a long-term downtrend in the spring of 2020, the shares have been steadily advancing, establishing a steady uptrend of higher lows. This week, the shares have broken out over $27.00, to their highest level since early 2017, completing another bullish Ascending Triangle pattern and signaling the start of a new upleg.

FedEx Corp. (FDX)

Following an initial correction, the shares of FedEx (FDX) have come under renewed accumulation with higher lows between $235 and $295, forming a bullish Ascending Triangle. This week, the shares have completed the triangle, breaking out to a new all-time high above $300 and signaling a new advance has commenced.

Imperial Oil Ltd. (IMO.TO)

Since we last mentioned Imperial Oil (IMO.TO) in the March 12th edition of the Daily Stock Report, the shares are up 10.7%, including a 4.8% gain on Friday after the energy producer reported improved earnings and raised its dividend. The shares continue to climb within the Green Favored Zone of the SIA S&P/TSX 60 Index Reports rising 2 spots on Friday to 3rd place.

Extreme Networks Inc. (EXTR)

Computer network equipment producer Extreme Networks (EXTR) continues to climb within the Green Favored Zone of the SIA S&P 600 SmallCap Index Report, as it rebounds from a brief drop into the yellow zone. Yesterday, the shares finished in 13th place, up 21 spots on the day and up 189 places in the last month.

Freeport McMoRan Inc. – (FCX)

A major breakout is underway in Freeport McMoRan (FCX) shares this week. For the last two months, the shares have been consolidating previous gains between $29.00 and $39.00. Through this time, except for one breakdown attempt which was quickly rejected, the shares underlying uptrend of higher lows continued. Yesterday’s all-time high close above $39.00 completed a bullish Ascending Triangle pattern, signaling the start of a new upleg.

NASDAQ Composite Index (NASD.I) & United States/Canadian Dollar (USDCAD)

The coming week brings another flurry of results from companies on both sides of the border, with a particular focus on the energy, pharmaceutical, insurance, movie theatre, ride-sharing, travel, automotive, and forest products sectors. The turn of the month also brings a number of key economic reports including Manufacturing and Service PMI surveys from around the world and North American employment reports. In this issue of Equity Leaders Weekly, we look at recent strength in the NASDAQ Composite and in the Canadian Dollar.

United Parcel Service Inc. – (UPS)

United Parcel Service (UPS) shares staged a major breakout yesterday. A breakaway gap over $180.00 to a new all-time high on volume signaled that an eight-month consolidation phase between $155.00 and $175.00 has come to an end and a new advance has started with accumulation resuming.

First Quantum Minerals Ltd. (FM.TO)

The technical picture for First Quantum Minerals (FM.TO) continues to turn increasingly bullish. A month ago, a pullback in the shares ended in a bullish Morning Star pattern (leftmost circle) where the shares gapped down, bottomed out with a hammer candle, then gapped back up, signaling a shift in sentiment. The shares then staged a breakaway gap to the upside (center circle) which snapped a downtrend line and regained the 50-day average. After successfully retesting the 50-day average as support twice, the shares launched upward yesterday, breaking through $28.50 to complete a bullish Ascending Triangle pattern.

Carrier Global Corp – (CARR)

After being spun out of United Technologies just over a year ago, Carrier Global (CARR) shares steadily advanced for eight months until reaching $40.00 in early November. The shares then spent four months consolidating their initial gains between $34.00 and $42.00 which was not unusual. In the last month, the shares have resumed their upward course, steadily building on a breakout over $42.00 and advancing to new highs.

Laurentian Bank (LB.TO)

Laurentian Bank (LB.TO) recently returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report for the first time since 2015 and only the second time since 2008. Yesterday, the shares finished in 45th place, up 9 spots on the day and up 13 spots in the last month. Since November, Laurentian Bank (LB.TO) shares have been recovering in a step pattern of rallies in increased volume, followed by periods of consolidation at higher levels, a sign of renewed accumulation. Earlier this year, the shares snapped out of a long-term downtrend. This week, LB.TO has launched up off of $40.00, on volume, clearing a long-term support/resistance/round number hurdle, and signaling the start of a new upleg.

iShares MSCI ACWI Ex US Index Fund (ACWX) & Gold Continuous Contract (GC.F)

The first week of earnings season has been somewhat odd. Overall, initial results have been coming in significantly stronger than expected, but the reaction has been somewhat mixed. In this issue of Equity Leaders Weekly, we look at resurgences in International Equities and in the price of Gold.

Intuitive Surgical Inc. – (ISRG)

A major breakout is underway in Intuitive Surgical (ISRG) shares. Over the last month, the shares have been climbing within a $680 to $825 trading range and this week they have broken out to a new high on increased volume indicating increased attention from investors and signaling the start of a new upleg within a year-long uptrend.

Labrador Iron Ore Royalty Co. – (LIF.TO)

Base metal miner Labrador Iron Ore (LIF.TO) has consistently been in the Green Favored Zone of the SIA S&P/TSX Composite Index Report since October. Yesterday the shares climbed 3 spots to 14th place. By the time overall markets crashed in the winter of 2020, Labrador Iron Ore (LIF.TO) had already been trending downward for six months. The major market plunge accelerated the decline and since both bottomed out, Labrador shares have been steadily recovering.

Mullen Group Ltd. (MTL.TO)

Trucker Mullen Group (MTL.TO) continues to march upward within the Green Favored Zone of the SIA S&P/TSX Composite Index Report. Yesterday, the shares finished in 12th place, up 10 spots on the day and up 20 spots over the last month. Based on previous peaks, initial upside resistance appears near $15.00 and then $16.50. Initial support appears at the $13.50 recent breakout point.

Canadian Tire Corp. (CTC.A.TO)

Canadian Tire* (CTC.A.TO) recently returned to the Green Favored Zone of the SIA S&P/TSX 60 Index Report. Last week’s major breakout through the top of a $160-$180 channel to a new all-time high, not only signals the start of a new upleg, it continues a trend of positive technical signals that have emerged over the last year including breaking through its 50-day average a year ago, snapping a downtrend last October, then clearing $160 to claw back all its bear market losses and retesting it as new support between November and now.

Nvidia Corp. (NVDA)

So far this month, chipmaker Nvidia (NVDA) has climbed up from the red zone into the Green Favored Zone of the SIA S&P 100 Index Report. Yesterday the shares finished in 16th place, up 6 spots on the day and up 55 spots in the last month. Shares have staged a major breakout this week, decisively blasting through the top of a six-month trading range to a new all-time high on increased volume. This move signals that a six-month sideways consolidation trend is over and a new uptrend is underway.

NASDAQ Composite Index (NASD.I) & iShares US Financials ETF (IYF)

While investors have been patiently waiting for the start of earnings season, equities have continued to be well supported. Just about every day in the last week, one or both of the Dow Jones Industrial Average or the S&P 500 has closed at an all-time record, while the NASDAQ Composite has started to rebound from a late winter correction. In this issue of Equity Leaders Weekly, we look at recent action in the NASDAQ Composite Index and the iShares US Financials ETF for insights into the state of investor sentiment.

Wells Fargo & Co. (WFC)

Wells Fargo (WFC) has just returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since the end of 2014. The shares climbed 6 spots yesterday on a 5.8% rally after the bank reported earnings and are up 29 spots in the last month.

TSLA Inc. (TSLA)

Green vehicle producer Tesla (TSLA) continues to climb its way back up the rankings in the SIA S&P 100 Index Report, returning to the Green Favored Zone from recent dips into the red and yellow zones. Yesterday it moved up 18 spots to 7th place. At the start of this month, shares snapped a downtrend line, indicating accumulation was resuming, and yesterday, they confirmed that an upswing is underway with a decisive breakout on an uptick in volume over the $700 round number, which completed a bullish Ascending Triangle base.

Gildan Activewear Inc. (GIL.TO)

Athletic clothing producer Gildan Activewear* (GIL.TO) has been in the Green Favored Zone of the SIA S&P/TSX 60 Index Report since August. Yesterday it climbed 3 spots to 7th place. Since bottoming out a year ago, shares have been under accumulation, steadily advancing in a rising channel of higher highs and higher lows. The shares recently confirmed this uptrend continues by staging a major breakout over $40.00, a key round number which has acted as both support and resistance over the last three years.

Westshore Terminals (WTE.TO)

Westshore Terminals (WTE.TO) recently returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report for the first time since late 2018. On Friday, the shares finished in 50th place up 2 spots on the day and up 26 places in the last month.

Lightspeed POS (LSPD.TO)

A recent correction in Lightspeed POS (LSPD.TO) shares appears to have run its course, with the shares rallying up off of a successful retest of $72.00, snapping a short-term downtrend line, regaining $90.00 and challenging a recent high near $92.00. LSPD.TO recently returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report yesterday finishing in 30th place, up 16 spots on the day and up 102 spots over the last month.

Canfor Corp. (CFP.TO)

Forest products producer Canfor (CFP.TO) has been climbing again within the Green Favored Zone of the SIA S&P/TSX Composite Index Report. Yesterday the shares finished in 25th place, up 15 spots on the day and up 28 spots over the last week.

VanEck Vectors Steel Index ETF (SLX) & Global X Uranium ETF (URA)

It’s a relatively quiet week for equity markets in what could be the calm before the storm as investors mark time waiting for the start of earnings season which kicks off next Wednesday-Thursday with results from several big banks and brokerages in the US, plus some of Canada’s media companies. In this issue of Equity Leaders Weekly, we take a look at two commodity markets which don’t usually attract attention from investors but have started to recently, steel and uranium.

Interfor Corp. (IFP.TO)

Forest products producer Interfor* (IFP.TO) recently returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report from a brief dip into the yellow zone. Yesterday the shares moved to 15th place, up 5 spots on the day and up 54 spots over the last month.

Quanta Services Inc. (PWR)

Electric infrastructure builder Quanta Services (PWR) has been in the Green Favored Zone of the SIA S&P 500 Index Report since August. In recent weeks, Quanta has been climbing up the rankings, yesterday it rose back up to 17th place, up 4 spots on the day and up 29 spots over the last month.

Lam Research (LRCX)

With semiconductor stocks attracting renewed interest last week, Lam Research jumped 91 spots on Thursday, returning to the Green Favored Zone of the SIA S&P 500 Index Report from a brief dip into the yellow zone. Shares blasted through $600.00 on Friday completing a bullish Ascending Triangle pattern ending a consolidation phase and signaling the start of a new advance.

S&P/TSX Capped Real Estate Index (TTRE.I) & iShares PHLX Semiconductor ETF (SOXX)

A flurry of news is due over the next few days including more manufacturing PMI reports today. US nonfarm payrolls come out on tomorrow’s Good Friday holiday so their impact may influence trading more on Monday, and service PMI reports are due early next week. Earnings season doesn’t start for another couple of weeks, but we are into confession season which has been quiet so far. In this issue of Equity Leaders Weekly, we take a look at two sectors which have been on the rebound lately, real estate and semiconductors.

DXC Technology Co. (DXC)

IT service provider DXC Technology (DXC) has returned to the Green Favored Zone of the SIA S&P 500 Index Report from a brief dip into the yellow zone. The shares finished yesterday in 88th place, up 20 spots on the day and up 130 spots in the last month.

Pultegroup Inc. (PHM)

Since we last mentioned homebuilder PulteGroup (PHM) back in July, the shares have climbed from $37.30 to $52.75, a gain of 41.4%. Shares have climbed back up toward the top of the Yellow Neutral Zone in the SIA S&P 500 Index Report and in 137th place, are 10 spots away from a return to the Green Zone. Boosted by a gain of 9.1% in the last week, the shares climbed 7 spots yesterday and have moved up 52 places in the last month.

The Kraft Heinz Co. (KHC)

Packaged foods producer Kraft Heinz (KHC) recently returned to the Green Favored Zone of the SIA NASDAQ 100 Index Report for the first time since November of 2016. The shares rose 3 spots yesterday to 16th place and are up 37 spots in the last month.

GFL Environmental Inc. (GFL.TO)

Since it was added in December, GFL Environmental (GFL.TO) has consistently been in the Green Favored Zone of the SIA S&P/TSX Composite Index Report. On Friday, it finished in 16th place, up 5 spots on the day and up 28 spots in the last month.

Lowes Companies Inc. (LOW)

Home improvement retailer Lowes Companies (LOW) has rebounded from a brief trip down into the red zone and returned to the Green Favored Zone of the SIA S&P 100 Index Report yesterday for the first time since October. The shares finished yesterday in 25th place, up 2 spots on the day and up 12 spots over the last month.

Prudential Financial Inc. – (PRU)

With gains of 5 spots yesterday and 44 spots in the last month, insurer Prudential Financial (PRU) has returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since the summer of 2017. Currently the shares are trading near $90.00 with initial resistance possible at the top of a previous $70.00 to $95.00 trading range,

Russell 2000 Index (RLS.I) vs. S&P 100 Index (OEX.I) & Crude Oil Continuous Contract (CL.F)

In this issue of Equity Leaders Weekly, we look at the relationship between small cap and large cap stocks as an indicator of market sentiment, and at recent swings in the price of crude oil as a proxy for commodities and their implications for interest rates and equity markets.

Brookfield Property Partners LP (BPY.UN.TO)

Since we last mentioned diversified REIT Brookfield Property Partners* (BPY.UN.TO), the shares have climbed 30.0%. Yesterday, after being one of the few senior North American stocks to post a gain on the day, BPY.UN remained within the Green Favored Zone of the SIA S&P/TSX 60 Index Report, as it has been since October, moving up 2 spots to 7th place.

Bank of Montreal (BMO.TO)

Bank of Montreal (BMO) has climbed back up into the Green Favored Zone of the SIA S&P/TSX 60 Index Report after rising two spots in the relative strength ranking yesterday to 12th place. Shares have been under accumulation since bottoming out nearly a year ago, stringing together a series of positive technical signals.

Nucor Corp. (NUE)

Steelmaker Nucor (NUE) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report for the first time since early 2017. The shares finished Friday in 96th place, up 18 spots on the day and up 159 spots over the last month.

US Bancorp (USB)

US Bancorp (USB) has returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time since 2012. The shares recently overtook their 2017 peak and finished yesterday in 25th place, up 1 spot on the day and up 28 spots over the last month. Since completing a bullish Ascending Triangle breakout back in November, US Bancorp (USB) shares have been under increased accumulation, as shown by the steepening of their uptrend support line. Last month, the shares broke out over $50.00 and yesterday they cleared $55.00 to confirm that their current uptrend continues.

Sector Scopes March 2021 & iShares US Home Construction ETF (ITB)

Some of the fear that gripped certain equity market sectors appears to have eased over the last few days. Although the rise in traded interest rates which rattled some traders earlier this month has continued, statements from central bankers in recent days have indicated that they expect inflation to remain contained, and their current stimulus programs to continue at current levels in North America and to increase in Europe. In this issue of Equity Leaders Weekly, we take a look at what the Sector Scopes feature in SIA Charts is telling us about investor confidence and capital rotation between equity market sectors, and at a recent breakout by the homebuilding sector.

Dow Inc. (DOW)

Chemical producer Dow Inc. (DOW) has consistently been in the Green Favored Zone of the SIA S&P 100 Index Report since June, and is currently on the rise once again. Yesterday the shares finished in 12th place, up 2 spots on the day and up 13 spots over the last month. Since we last mentioned DOW in the August 11th edition of the Daily Stock Report, the shares have climbed 47.3%.

Intertape Polymer Group Inc. (ITP.TO)

Since we last mentioned Intertape Polymer Group (ITP.TO) in the November 18th edition of the Daily Stock Report, the shares have climbed 48.0%, and have remained within the Green Favored Zone of the SIA S&P/TSX Composite Index Report. Yesterday the shares finished in 6th place, up 1 spot on the day and up 47 spots over the last month.

United Airlines Inc. (UAL)

Bouncing back from a brief dip into the red zone, Boeing (BA) recently returned to the Green Favored Zone of the SIA S&P 500 Index Report and continues to climb up the rankings. The shares finished yesterday in 36th place, up 30 spots on the day and up 242 spots over the last month, boosted by an 8.2% gain in the share price. Shares continue to accelerate to the upside this week, gapping up toward $60.00 as they build on last month’s big breakout over $50.00, which completed a large, bullish, Ascending Triangle base and signaled the start of a new uptrend.

Boeing Company (BA)

Recovering from a brief dip into the red zone, Boeing (BA) has returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time in about two months. The shares finished Friday in 21st place, up 11 spots on the day and up 45 spots over the last month.

Imperial Oil Ltd. (IMO.TO)

Integrated oil producer Imperial Oil (IMO.TO) continues to climb within the Green Favored Zone of the SIA S&P/TSX 60 Index Report. The shares finished yesterday in 8th place, up 2 spots on the day and up 8 spots over the last month. Back in the fall, Imperial Oil (IMO.TO) completed a bullish Ascending Triangle Base with a breakout over $25.00, and then consolidated its gains for a few weeks retesting the breakout point and its 50-day average.

BMO Equal Weight Oil & Gas ETF (ZEO.TO) & Select Sector SPDR Technology ETF (XLK)

Trading action across equity markets has been choppy this week as investors grapple with the implications of increased speculation that the easy money party of the last year could start to wind down, and what a potentially reopening economy over the next 6-9 months could mean for the relative outlook of varying sectors. In this issue of Equity Leaders Weekly, we look at energy and technology ETFs as indicators of changing relative strength and tactical capital rotation between sectors as leadership changes.

Air Canada (AC.TO)

Benefitting from renewed interest in airlines, Air Canada (AC.TO) recently returned to the Green Favored Zone of the SIA S&P/TSX Composite Index Report and continues its climb up the rankings which started down in the red zone. The shares finished yesterday in 24th place, up 8 spots on the day and up 118 spots over the last month.

Altus Group Limited (AIF.TO)

Altus Group (AIF.TO) a provider of software and consulting services to the commercial real estate industry, returned to the Green Favored Zone of the SIA S&P/TSX Composite Index report yesterday for the first time since November. The share finished yesterday in 46th place, up 11 spots on the day and up 120 spots over the last month.

Schlumberger Ltd. (SLB)

Since we last mentioned oilfield service provider Schlumberger (SLB) in the November 21st issue of the Daily Stock Report, the shares have gained 37.5%. Their positioning within the SIA S&P 100 Index Report has remained in a sideways to upward trend, recently rising toward the top of the Green Favored Zone. Yesterday the shares finished in 8th place, up 3 spots on the day and up 25 spots in the last month.

Vermilion Energy Inc. (VET.TO)

Vermillion Energy (VET.TO) continues to climb toward the top of the Green Favored Zone in the SIA S&P/TSX Composite Index Report. On Friday it finished in 5th place, up 178 spots over the last month and up 12 spots in the last week. Since they gapped up through their 50-day average back in October, shares have been under renewed accumulation.

Exxon Mobil Corp. (XOM)

Exxon Mobil (XOM) has returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time in 12 years! It left the green zone in March of 2009 and spent over a decade stuck in the red zone until finally seeing its relative strength improve in a meaningful way earlier this year. Yesterday XOM it finished in 22nd place, up 7 spots on the day and up 37 spots over the last month.

NASDAQ Composite Index (NASD.I) & iShares S&P 500 Growth ETF (IVW) vs. iShares S&P 500 Value ETF (IVE)

It has been a choppy week for equity markets. Earnings season has come to an end, reducing the amount of corporate news out there for investors to consider. Instead, investors have turned their focus to rising traded US interest rates, particularly the 10-year treasury yield climbing above 10%, as a sign that the massive central bank liquidity party may not go on forever. In this week’s issue of Equity Leaders Weekly, we look at yesterday’s downturn in the NASDAQ Composite Index and at a shift in the capital flows between Growth and Value stocks.

Citigroup Inc. (C)

With big banks attracting renewed interest, Citigroup (C) has returned to the Green Favored Zone of the SIA S&P 100 Index Report. Yesterday it finished in 23rd place, up four spots on the day and up 14 spots over the last month.

Spin Master Corp. (TOY.TO)

Toymaker Spin Master (TOY.TO) soared up the rankings in the SIA S&P/TSX Composite Index Report yesterday climbing 123 spots in one day to 31st place. This enabled it to move directly from the red zone to the Green Favored Zone. Stronger than expected online sales sent the shares soaring 23.9% on the day.

Halliburton Co. (HAL)

Oilfield service giant Halliburton Co. (HAL) continues to trend upward within the Green Favored Zone of the SIA S&P 500 Index Report. The shares finished yesterday in 60th place, up 12 spots on the day and up 129 spots over a month. Back in autumn, shares snapped a downtrend line to signal the start of a new recovery trend, then consolidated for a few months in the $17.25 to $22.25 area. Yesterday, a breakout to the upside, completing a bullish Ascending Triangle base signaled the start of a new upleg.

Carnival Corp. (CCL)

Over the course of February, cruse line Carnival Corp (CCL) climbed up from the red zone toward the top of the Green Favored Zone in the SIA S&P 500 Index Report. The shares finished Friday in 25th place, up 4 spots on the day and up 245 spots over a month.

Gildan Activewear Inc. (GIL.TO)

A major breakout is underway in Gildan Activewear* (GIL.TO) shares which broke out over $38.50 to their highest level since September of 2019 yesterday. An uptrend has been underway since the shares bottomed out last March and a downtrend line was snapped last summer near $25.00. GIL.TO remains in the Green Favored Zone of the SIA S&P/TSX 60 Index Report where it has resided since August. Yesterday it moved up 4 spots to 10th place.
*Gildan Activewear is held in portfolios managed by SIA Wealth Management

CBOE Interest Rate 10-Year (TNX.I) & Sugar #11 Continuous Contract (2B2.F)

Overall, stock market indices appear to be regaining their footing from a choppy few days. The last week has seen the tech-sensitive NASDAQ struggle relative to broader indices, while commodities and related stocks have continued to do well. In this week’s issue of Equity Leaders Weekly, we look at the causes and implications of the recent rise in the US 10-year treasury note yield, and at action in the price of sugar as an example of renewed interest in commodities.

American Airlines Group Inc. (AAL)

Since returning to the Green Favored Zone of the SIA S&P 500 Index Report last month, American Airlines (AAL) has continued to ascend in the rankings. In the last month, it has climbed 257 spots to 34th place, including a gain of 10 places yesterday.

Simon Property Group (SPG)

Shopping mall owner Simon Property Group (SPG) has climbed into first place in the SIA S&P 100 Index Report after climbing one spot yesterday and eleven places over the last week. After spending from the fall of 2016 to the spring of 2020 stuck in the red and yellow zones, the shares have been steadily moving up the rankings for about ten months now and have consistently been in the Green Favored Zone since November.

Meg Energy Corp. (MEG.TO)

MEG Energy* (MEG.TO) shares returned to the Green Favored Zone in the SIA S&P/TSX Composite Index Report back in December and have continued to climb up the rankings. In the last month, the shares have moved up 41 spots to 7th place, including a gain of 8 spots yesterday. *Shares of MEG Energy are held in some portfolios managed by SIA Wealth Management.

Hudbay Minerals Inc. (HBM.TO)

Base metal miner Hudbay Minerals (HBM.TO) has been climbing back up toward the top of the Green Favored Zone in the SIA S&P/TSX Composite Index report this month, bouncing back from a brief dip into the yellow zone. The shares have moved up 74 spots last week, including a rise of 16 spots on Friday to 9th place.

The Kraft Heinz Co. (KHC)

This one is a bit different from the stocks we usually look at in the Daily Stock Report. On what was a relatively quiet day in the markets, Kraft Heinz (KHC) staged an aggressive move upward in the rankings of the SIA S&P 500 Index Report, climbing 17 spots in one day to 41st place, up 44 spots from a month ago.

iShares US Energy (IYE) & Gold Continuous Contract (GC.F)

It has been an odd week for world markets, disrupted by Asia Pacific and North American holidays. Although several major North American indices have managed to nudge their way to new all-time highs, there doesn’t appear to be much of a tailwind behind them, perhaps because earnings and economic news flow has subsided for the time being. In this week’s issue of Equity Leaders Weekly, we look current strength in US Energy stocks and at the factors influencing recent weakness in Gold.

Devon Energy Corp. (DVN)

Devon Energy (DVN) entered the Green Favored Zone of the SIA S&P 500 Index Report back in October. In the last few days, it has been climbing within that zone, moving up 13 spots yesterday to 24th place. A major breakout is underway in which shares have gapped up through $20.00 to signal the start of a new upleg. This continues a series of bullish signals this year which started with the shares snapping out of a long-term downtren