Tech Talk for Friday February 2nd 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 22 points in pre-opening trade.

Index futures were dipped lower following release of economic news at 8:30 AM EST. Consensus for January Non-farm Payrolls was 176,000 versus upwardly revised 160,000 in December. Actual was 200,000. Consensus for January Unemployment Rate was unchanged at 4.1%. Actual was unchanged at 4.1%. Consensus for January Average Hourly Earnings was an increase of 0.3% versus a gain of 0.3% in December. Actual was a gain of 0.3%.

Alphabet dropped $41.69 to $1139.90 after reporting lower than consensus fourth quarter results. Stifel Nicolaus downgraded the stock to Hold from Buy.

Apple gained $1.12 to $168.90 after release better than consensus quarterly earnings.

Amazon jumped $86.00 to $1476.00 after releasing higher than consensus fourth quarter revenues. Oppenheimer, Susquehanna, RBC Capital, JP Morgan and Wedbush raised their target price on the stock.

Merck added $0.24 to $60.10 after reporting higher than consensus fourth quarter operating earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/02/01/stock-market-outlook-for-february-2-2018/

Note seasonality charts on Non-Farm Payrolls, Initial Jobless Claims and Construction Spending.

Observation

The long term Treasury ETF dropped below $121.40 completing a Head & Shoulders pattern.

StockTwits Released Yesterday @EquityClock

Open Text $OTEX, a TSX 60 stock moved above $35.80 to an all-time high extending an intermediate uptrend.

AT&T $T, a Dow Jones Industrial stock moved above $38.81 completing a reverse Head & Shoulders pattern.

Technical action by S&P 500 stocks to 10:00: Mixed. Breakouts: $NLSN $CCI, $T. Breakdowns: $HRL, $HSY, $CHK $ALXN

Editor's Note: After 10:00 AM EST, another 10 stocks broke intermediate support and two stocks (IR and AON) broke resistance

Trader's Corner

Daily Seasonal/Technical Equity Trends for February 1st 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for February 1st 2018

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for February 1st 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P Momentum Barometer

The Barometer dropped another 2.00 to 73.20 yesterday. It remains intermediate overbought and trending down

TSX Momentum Barometer

The Barometer dropped another 2.47 to 35.80 yesterday. It remains intermediate neutral and trending down.

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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