Tech Talk for Friday February 7th 2020
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.
Index futures were virtually unchanged following release of the January employment report at 8:30 AM EST. Consensus for January Non-farm Payrolls was 165,000 versus 145,000 in December. Actual was 225,000. Consensus for January Unemployment Rate was unchanged from December at 3.5%. Actual was up 0.1 to 3.6%. Consensus for January Average Hourly Earnings was an increase of 0.3% versus a gain of 0.1% in December. Actual was an increase of 0.2%
The Canadian Dollar added 0.15 to US 75.28 cents following release of Canada's January employment report at 8:30 AM EST. Consensus for January Employment was an increase of 17,500 versus a gain of 35,200 in December. Actual was an increase of 34,500. Consensus for January Unemployment Rate was unchanged from December at 5.6%. Actual was down 0.1 to 5.5%.
Activision Blizzard gained $1.45 to $61.71 after reporting higher than consensus fourth quarter revenues and earnings. The company also raise its dividend by 11%.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/02/clip_image0011-1.png "clip_image001[1]")
Take Two Interaction dropped $10.24 to $117.50 after reporting lower than consensus fiscal third quarter revenues and earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/02/clip_image0021-2.png "clip_image002[1]")
eBay fell $2.35 to $35.65 after Intercontinental Exchange decided to stop exploring strategic opportunities with eBay.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/02/clip_image0031-1.png "clip_image003[1]")
Canada Goose dropped $2.37 to $30.93 after lowering its fiscal fourth quarter guidance. Sales in China are impacted by the coronavirus.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/02/clip_image0041-1.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/02/06/stock-market-outlook-for-february-7-2020/
Note seasonality charts on Initial Jobless Claims, iShares 7-10 year Treasury Bond ETF and Gold futures.
StockTwits released yesterday @EquityClock
Ulta Beauty $ULTA, a NASDAQ 100 stock moved above $284.06 extending an intermediate uptrend.
Fastenal $FAST, a NASDAQ 100 stock moved above $37.68 to an all-time high extending an intermediate uptrend.
Financials SPDRs $XLF moved above $31.10 to an all-time high extending an intermediate uptrend.
Gilead Sciences $GILD, a NASDAQ 100 stock moved above $64.64 completing a base building pattern.
General Dynamics $GD, an S&P 100 stock moved above $186.86 extending an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for February 6th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for February 6th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for February 6th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer slipped 1.60 to 66.73 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer added 0.40 to 66.36 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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