Tech Talk for Friday January 31st 2020

Mr. Vialoux is scheduled to appear by conference call on Michael Campbell's radio show broadcast this Saturday, February 1st at approximately 9:00 AM Vancouver time (Noon Toronto time). Contact through the internet is  www.CKNW.com

Pre-opening Comments for Friday January 31st

U.S. equity index futures were lower this morning. S&P 500 futures were down 14 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for December Personal Income was an increase of 0.3% versus a gain of 0.5% in November. Actual was an increase of 0.2%. Consensus for December Personal Spending was an increase of 0.3% versus a gain of 0.4% in November. Actual was an increase of 0.3%.

The Canadian Dollar was virtually unchanged at U.S.75.61 cents following release of Canada's November GDP report at 8:30 AM EST. Consensus was an increase of 0.1% versus a decline of 0.1% in October. Actual was an increase of 0.1%.

Amazon jumped $193.44 to $2064.12 after reporting higher than consensus fourth quarter revenues and earnings. Raymond James, Monness, Oppenheimer, KeyBanc, Sussquehanna, Benchmark and Stifel Nicolaus raised their target price on the stock.

Navistar (NAV $24.07) is expected to open higher after Volkswagen offered to purchase the company for $35.00 cash per share.

ExxonMobil slipped $0.19 to $64.60 after the company reported lower than consensus operating earnings.

Caterpillar (CAT $135.37) is expected to open lower after reporting lower than consensus fourth quarter revenues.

Open Text (OTEX $61.17 Cdn) is expected to open higher after reporting higher than consensus fourth quarter revenues and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/01/30/stock-market-outlook-for-january-31-2020/

Note seasonality chart on Weekly Initial Jobless Claims

StockTwits released yesterday @EquityClock

Altria $MO, an S&P 100 stock moved below $49.05 completing a double top pattern

FedEx $FDX, an S&P 100 stock moved below $146.24 setting an intermediate downtrend.

Xilinx $XLNX, an S&P 100 stock moved below $58.76 extending an intermediate downtrend

Verizon $VZ, a Dow Jones Industrial stock moved below $58.76 completing a Head & Shoulders pattern

Mondelez $MDLZ, an S&P 100 stock moved above $61.00 to an all-time high extending an intermediate uptrend.

First Trust Natural Gas ETF $FCG moved below $9.75 extending an intermediate downtrend

Soybean ETN $SOYB moved below $14.80 setting an intermediate downtrend

S&P U.S. Bank SPDRs $KBE moved below $44.59 setting an intermediate downtrend

Chevron $CVX, a Dow Jones Industrial stock moved below $109.34 setting an intermediate downtrend despite an 8% dividend increase announced last night

Capital One Financial $COF, an S&P 100 stock moved below $99.82 completing a double top pattern.

Vietnam ETF $VNM moved below $15.48 extending an intermediate downtrend.

In response to the Fed statement late yesterday, U.S. Treasury prices moved higher. 20 year Treasury Note iShares $TLT moved above intermediate resistance at $145.29

Editor's Note: 7-10 year Treasury Note iShares $IEF moved above $113.77 to an all-time high extending an intermediate uptrend.

Oracle $ORCL, an S&P 100 stock moved below $52.32 extending an intermediate downtrend.

Inter Pipeline $IPL.CA, a TSX 60 stock moved below $21.88 setting an intermediate downtrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for January 30th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 30th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 30th 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 1.40 to 58.32 yesterday. It remains intermediate neutral and trending down.

TSX Momentum Barometer

The Barometer dropped another 5.24 to 58.53 yesterday. It changed to intermediate overbought to intermediate neutral on a move below 60.00 and extended an intermediate downtrend.

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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