Tech Talk for Friday February 15th 2019
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.
Index futures were virtually unchanged following release of the February Empire State Manufacturing Survey. Consensus was an increase to 7.00 from 3.90 in December. Actual was.8.8.
Nvidia added $12.47 to $167.00 after reporting higher than consensus fourth quarter sales and earnings. Note that the stock completed a reverse Head & Shoulders pattern.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/02/clip_image0011-8.png "clip_image001[1]")
CBS dropped $1.20 to $47.90 after reporting lower than consensus fourth quarter results.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/02/clip_image0021-9.png "clip_image002[1]")
Suncor (SU $43.24 Cdn) is expected to open higher on news that Berkshire Hathaway acquired 10.8 million shares of the stock.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/02/clip_image0031-7.png "clip_image003[1]")
Air Canada (AC $31.98 Cdn) is expected to open higher after reporting higher than consensus fourth quarter results.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/02/clip_image0041-7.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/02/15/stock-market-outlook-for-february-15-2019/
Note seasonality chart on U.S. Retail Trade.
Next Tech Talk Report
It will be available on Tuesday February 19th. Monday is Family Day in Canada and Presidents Day in the U.S.
StockTwits Released Yesterdaty @EquityClock
Momentum sell signals triggered for TSX Composite as the benchmark struggles at resistance. http://www.equityclock.com/2019/02/13/stock-market-outlook-for-february-14-2019/ $TSX.CA
Technical action by S&P 500 stocks to 10:00: Bullish. Intermediate breakouts: $CSCO $FFIV $IPGP $MRO $BWA. No breakdowns
Editor's Note: After 10:00 AM EST, intermediate breakouts included FL, FOX and VRT. Breakdown: KO (a Dow Jones Industrial stock)
Cisco $CSCO, a Dow Jones Industrial stock moved above $48.75 to an all-time high on higher than consensus Q3 earnings extending an uptrend
Coffee ETN $JJOFF moved below $10.40 and $10.26 extending an intermediate downtrend
Birchcliff Energy $BIR.CA moved above $3.54 completing a base building pattern.
Precision Drilling $PDS $PD.CA moved above $2.38 U.S. and $3.15 Cdn. completing a base building pattern
Stantec $STN.CA moved above $31.94 completing a reverse Head & Shoulders pattern
Manulife Financial $MFC.CA, a TSX 60 stock moved above $21.49 extending an intermediate uptrend.
Gasoline ETN $UGA moved above $25.59 completing a reverse Head & Shoulders pattern
‘Tis the season for gasoline prices $UGA to move higher to U.S. Memorial Day holiday!
US #Retail Sales show the weakest December change on record, up 8.9% (NSA). (Average change: +17.0%) $MACRO #Economy $XRT $RTH
Another Canadian oil service stock breakout! Calfrac $CFW.CA moved above $3.08 completing
a base building pattern.
Wheat ETN $WEAT moved below $5.93 extending an intermediate downtrend.
Canada #Manufacturing Sales down 10.6% (NSA) in December, much weaker than 7.6% average decline for the month. $MACRO #CDNecon #CAD
Another Cdn. oil services breakout! Trican Oil Services $TCW.CA moved above $1.42 completing a reverse Head & Shoulders
Energy SPDRs $XLE moved above $65.27 completing a reverse Head & Shoulders pattern
‘Tis the season to own the U.S. energy sector to at least the end of April! $XLE
How ironic following disappointing December retail report day! Retail SPDRs $XRT moved above $45.01 setting an intermediate uptrend.
Trader's Corner.
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for February 14th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for February 14th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for February 14th 2019
Green: Increase from previous day
Red: Decrease from previous day
http://www.equityclock.com/about/seasonal-advantage-portfolio/
S&P 500 Momentum Barometer
The Barometer slipped 0.40 to 89.40 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer added 2.24 to 86.92 yesterday. It remains intermediate overbought.
Disclaimer: Seasonality 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
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