Tech Talk for Thursday February 22nd 2024
U.S. equity index futures were higher this morning. S&P 500 futures were up 64 points at 8:35 AM EST.
The Canadian Dollar was unchanged at US74.11 cents following release of Canada's December Retail Sales report at 8:30 AM EST. Consensus was an increase of 0.8% versus a decline of 0.2% in November. Actual was an increase of 0.9%. Excluding auto sales, consensus was an increase of 0.7% versus unchanged in November. Actual was an increase of 0.6%.
Nvidia advanced $47.28 to $722.00 after reporting higher than consensus fourth quarter revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/02/clip_image0011-6.png "clip_image001[1]")
Etsy dropped $3.13 to $74.00 after reporting less than consensus fourth quarter earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/02/clip_image0021-8.png "clip_image002[1]")
Mosaic added $0.46 to $30.96 after reporting higher than consensus fourth quarter revenues.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/02/clip_image0031-6.png "clip_image003[1]")
Synopsys advanced $20.43 to $564.00 after reporting higher than consensus fiscal first quarter earnings. The company also offered positive second quarter guidance.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/02/clip_image0041-8.png "clip_image004[1]")
BNNBloomberg Guest on Market Call today at Noon
Hap Sneddon from CastleMoore is the guest analyst
Technical Notes
IBM $IBM a Dow Jones Industrial Average stock moved below $180.98 completing a double top pattern.
Okta $OKTA a NASDAQ 100 stock moved below $79.61 completing a double top pattern.
Check Point $CHKP a NASDAQ 100 stock moved below intermediate support at $155.57.
ANSYS $ANSS a NASDAQ 100 stock moved below $322.24 setting an intermediate downtrend.
TSX Energy iShares $XEG.TO moved above Cdn$16.26 resuming an intermediate uptrend.
ARC Resources $ARX.TO a major Canadian "gassy" stock moved above Cdn$22.46 extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Feb.21st 2024
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for Feb.21st 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Feb.21st 2024
Green: Increase from previous day
Red: Decrease from previous day
Next CATA Meeting
Next Canadian Association for Technical Analysis meeting is offered at 8:00 PM EST this evening. Presenter on Zoom is David Cox. Everyone is welcome. Not a member of CATA? Contact
Links offered by valued providers
Titanic Syndrome Indicator Issues a WARNING! David Keller
Titanic Syndrome Indicator Issues a WARNING! - YouTube
The U.S. dollar has moved too much against other currencies: Taylor
The U.S. dollar has moved too much against other currencies: Taylor - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 3.40 to 64.40. It remains Overbought.
The long term Barometer added 3.20 to 74.40. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 2.67 to 60.44. It changed from Neutral to Overbought on a move above 60.00.
The long term Barometer dropped 2.22 to 56.00. It remains Neutral.
Disclaimer: Seasonality ratings 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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