Today, Brooke Thackray commented about whether IWM-N, HUG-T, XLK-N, XOM-N, CNQ-T, BCE-T, T-T, ZMID-T, XMC-T, DML-T, VZ-N, AAV-T, HNU-T, TGT-N, UBER-N, MFC-T, HTB-T, XLU-N, XLV-N, CGX-T, NEE-N, NTR-T, SHOP-T, CLS-T, GD-N, OTEX-T, TD-T, BMO-T, TSLA-Q, NVDA-Q are stocks to buy or sell.
Earnings disappointed today, withdrawing some guidance. Not looking good from a fundamental perspective. He thinks they're just getting rid of all the bad stuff at this point, a clean sweep for the new CEO.
Technically, pulled back to the bottom of the range of support, looks like it will hold. Could have a few days of really negative performance. Once things settle down, it will meander around here a bit. Eventually, the negative news will wear off.
Commodity index hasn't done well either, and NTR is somewhat correlated with that. Unperformed, but now forming a base. Not seeing a strong impetus for stock to increase. Commodities are taking a backseat to tech and growth.
Longer term, will be a fantastic play as fertilizer demand grows. But not now.
(Note the short timeframe.) Sector has been helped by falling interest rates, plus forecasted huge uptick in energy requirements by data centres. Also benefits from being defensive. This is the soft way to play that trend. Now seeing topping out and seasonal weakness (January/February). Not a preferred sector at present.
(Note the short timeframe.) Strong performance with interest rates falling. Tends to perform well in summer months, starting to see a pullback. Coming up to a time when government bonds tend not to perform so well. Better places to be now.
Disclosure: He works for Global X (previously Horizons).
For both Canada and the US, it's the same broad perspective on a yearly basis. Market tends to do better in the 6 months from mid-October to early May. That's compared to the other 6 months of the year. Right now, we're in the strong seasonal time for equity markets overall. So growth sectors tend to do well, and discretionary and cyclicals. Defensive sectors tend to lag.
This past summer the stock market did really well, not typical unless you're coming out of a recession. Before that in 2022, we saw the market in Canada go down a lot from May to October.
Seasonality puts him on a 1-year repeating cycle, where he's in and out of different parts of the market at different times of the year.
Broken above resistance, a positive breakout. Also seeing higher lows, which is positive as well. Will probably target the high from 2022.