Tech Talk for Thursday February 22nd 2018

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

Index futures were virtually unchanged following release of the weekly jobless report at 8:30 AM EST. Consensus was unchanged from the previous week at 230,000. Actual was 222,000.

The Canadian Dollar dropped 0.24 to US 78.52 cents following release of Canadian December Retail Sales. Consensus was a drop of 0.5% versus a gain of 0.2% in November. Actual was a drop of 0.8%.

Canadian Imperial Bank of Commerce (CM $116.47 Cdn) is expected to open higher after reporting higher than consensus fiscal first quarter earnings. The Bank also raised its dividend.

Magna International (MG $ 69.61 Cdn) is expected to open higher after reporting higher than consensus fourth quarter earnings. The company also raised its dividend.

Loblaw (L $65.31 Cdn) is expected to open higher after reporting higher than consensus fourth quarter earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/02/21/stock-market–outlook-for-february-22-2018/

Note seasonality charts on the U.S. Financial sector and Existing Home Sales

Observations

Wild moves by markets following release of the Federal Reserve Meeting Minutes at 2:00 PM EST:

? Equity indices initially moved higher, but subsequently moved sharply lower to the close.

? Yield on 10 year Treasuries initially moved lower, but subsequently moved higher to the close.

? Conversely, price of long term Treasuries moved lower to the close.

? U.S. Dollar Index initially moved lower, but subsequently moved higher to the close.

? Precious metal prices and precious metal equity prices initially moved higher, but subsequently moved lower to the close.

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quiet. Breakouts: $ZION $CF. Breakdown: $NFX

Editor's Note: After 10:00 AM EST, breakouts included MTB, STI, VRSK, FFIV, BA, BBT, AMZN and FTV.

Agnico Eagle $AEM $AEM.CA, a TSX 60 stock moved below $52.36 Cdn. extending an intermediate downtrend.

Regional Bank SPDRs $KRE moved above $63.81 to an all-time high extending an intermediate uptrend.

U.S. Regional Banks breaking to new highs extending an intermediate uptrend: $BBT $ZION $MTB $STI

Boeing $BA, a Dow Jones Industrial stock moved above $359.67 to an all-time high extending an intermediate uptrend.

Amazon $AMZN, a Dow Jones Industrial stock moved above $1498.00 to an all-time high extending an intermediate uptrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for February 21st 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for February 21st 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 21st 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 1.40 to 40.20 yesterday. It remains intermediate neutral after reaching an intermediate bottom.

TSX Momentum Barometer

The Barometer eased 1.63 to 24.08 yesterday. It remains intermediate oversold after reaching an intermediate bottom.

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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