Tech Talk for Friday February 7th 2025

U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points at 8:35 AM EST.

S&P 500 futures slipped 2 points following release of the U.S. January Employment Report. Consensus for January Non-farm Payrolls was 175,000, down from upwardly revised 307,000 in December. Actual was 143,000. Consensus for the January Unemployment Rate was 4.1%, unchanged from December. Actual was down 0.1 to 4.0%. Consensus for January Average Hourly Earnings was a 0.3% gain, unchanged from December. Actual was a 0.5% gain

The Canadian Dollar added 0.08 to US69.93 cents following release of Canada's January Employment Report. Consensus was a 25,000 employment gain, down from a 90,900 gain in December. Actual was a 76,000 gain. Consensus for the January Unemployment Rate was 6.8%, up from 6.7% in December. Actual was down 0.1 to 6.6%

Amazon dropped $8.52 to $230.30 after issuing first quarter guidance below consensus.

Pinterest added $5.91 to $39.50 after reporting higher than consensus fourth quarter revenues and earnings.

Expedia advanced $14.83 to $187.40 after announcing a rise in bookings growth

EquityClock's Stock Market Outlook for February 7th

A source of fuel that has worked to inflate equity values is running out. See:

https://equityclock.com/2025/02/06/stock-market-outlook-for-february-7-2025/

Technical Notes

Italy iShares $EWI moved above $39.04 to an all-time high extending an intermediate uptrend.

Copper Miners ETF $COPX moved above intermediate resistance at $40.69. Responded to higher copper prices! Seasonal influences are favourable until March 4th.

S&P 100 and NASDAQ 100 stocks moving above resistance extending an intermediate uptrend included Marriott on a move above $295.45 (All-time high), Philip Morris International on a move above $132.68 (All-time high), Eli Lilly on a move above $846.46, Bank of America on a move above $47.81 (All-time high).

S&P 100 and NASDAQ 100 stocks move below support extending an intermediate downtrend included Honeywell on a move below $214.60, Tesla on a move below $373.04, Ford on a move below $9.53

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for February 6th 2025

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for February 6th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 6th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Is This a Sign of a STRUGGLING Economy? Tom Bowley

https://www.youtube.com/watch?v=vlmk7_93hZY

AI Winners and Losers: Navigating Volatility in the Tech Sector with Rishi Jaluria

https://www.youtube.com/watch?v=-3vbI6yOnFM

Warning signs continue to build for the stock market top: TheTechnicalTraders

https://www.youtube.com/watch?v=_g7Ox60BFpg

Massive Gold Play Unfolding - The Bet That Could Change Everything | Adrian Day

https://www.youtube.com/watch?v=3J-E6GHDCbI

The Rate Ripple Effect: Banks, Bitcoin & Buying Opportunities: Guy Adami and Dan Nathan

https://www.youtube.com/watch?v=jixPUBSzhIc

CHART THIS with David Keller, CMT Thursday 2/6/25: David Keller

https://www.youtube.com/watch?v=3abWpm9SkX8

Chart of the day: S&P/TSX Financial Services Index

Technical score increased from -2 to 0 when the Index moved above its 20 day moving average. Ditto for its ETF: S&P/TSX Financials iShares (XFN.TO)! Seasonal influences are favourable until the end February.

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 1.00 to 52.20. It remains Neutral.

The long term Barometer dropped 1.60 to 60.00. It remains Overbought. Daily trend is down.

TSX Momentum Barometers

The intermediate term Barometer dropped 4.30 to 45.25. It remains neutral.

The long term Barometer dropped 1.52 to 63.35. It remains Overbought.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed