Tech Talk for Thursday February 21st 2019

U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was 225,000 versus 239,000 last week. Actual was 216,000. Consensus for December Durable Goods Orders was an increase of 1.5% versus a gain of 0.8% in November. Actual was an increase of 1.2%. Excluding Transportation, consensus for December Durable Goods Orders was an increase of 0.2% versus a gain of 0.3% in November. Actual was an increase of 0.5%. Consensus for the February Philly Fed Index was a slip to 14.0 from 17.0 in January. Actual was -4.1.

Garmin (GRMN $83.06) is expected to open higher after reporting higher than consensus quarterly results. The company also raised guidance.

Agilent (A $78.56) is expected to open higher after reporting higher than consensus quarterly earnings. The company also raised guidance.

Loblaw (L $66.54) is expected to open higher after reporting higher than consensus fourth quarter sales and earnings.

Gildan Activewear (GIL $45.02) is expected to open higher after reporting higher than consensus fourth quarter results. The company also raised guidance.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/02/20/stock-market-outlook-for-february-21-2019/

Note seasonality chart on the Materials sector.

Observations

The Canadian Dollar is responding to strength in industrial based commodity prices.

Tis the season for strength in the Canadian Dollar from the third week in February to mid-June.

The oil services sector is tracking the S&P Energy Index. Nice breakout yesterday by $OSX above $99.66 setting an intermediate uptrend.

Ditto for its related ETF: OIH

StockTwits Released Yesterday @EquityClock

Evidence of a weakening trend for the US dollar bodes well for commodities and related stocks. equityclock.com/2019/02/19/… $USDX $UUP $GLD $SLV

CRB Index $CRB moved above 182.25 completing a reverse Head & Shoulders pattern. 'Tis the season for strength to the end of April!

Laurentian Bank $LB.CA moved above $44.53 extending an intermediate uptrend.

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakouts: $F $FTI $PWR $MOS. Breakdown: $HSIC

Editor's Note: After 10:00 AM EST, intermediate breakouts included KSU, ETN, DLR, MAR, MO, NEM, BBT, RTN, HAL, JCI, HSY, CB, CCL, LYB and PKG.

Steel ETF $SLX moved above $39.79 setting an intermediate uptrend.

Europe iShares $IEV moved above $42.50 extending an intermediate uptrend

Another gold stock breakout! Newmont $NEM moved above $35.18 extending an intermediate uptrend

Agriculture ETF $MOO moved above $62.09 extending an intermediate uptrend.

Fertilizer ETF $SOIL moved above $9.54 setting an intermediate uptrend

Bank of Montreal $BMO.CA, a TSX 60 stock moved above $99.02 extending an intermediate uptrend. Q1 EPS report next week

Rogers Communications $RCI $RCI.B.CA, a TSX 60 stock moved above $55.17 U.S. to an all-time high extending an uptrend.

Another silver stock breakout! Hecla Mining $HL moved above $2.93 extending an intermediate uptrend. $SIL

TransCanada $TRP.CA, a TSX 60 stock moved above $57.91 extending an intermediate uptrend

S&P Chemical Index $CEX moved above 585.40 completing a reverse Head & Shoulders pattern.

Editor's Note: CEX is by far the largest weight in XLB.

Trader's Corner.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for February 20th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for February 20th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 20th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 0.20 to 92.00 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 0.42 to 90.76 yesterday. It remains intermediate overbought.

http://www.equityclock.com/about/seasonal-advantage-portfolio/

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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