Tech Talk for Thursday February 7th 2019

U.S. equity index futures moved lower this morning. S&P 500 futures were down 18 points in pre-opening trade.

Equity index futures were virtually unchanged following release of the Weekly Jobless Claims report. Consensus was a drop to 220,000 from 253,000 last week. Actual was 233,000.

BB&T Banks (BBT $48.53) has offered to buy SunTrust Banks (STI $58.74) in an all-stock deal valued at $66 billion. Each share of SunTrust Banks will receive 1.295 shares of BB&T shares. Estimated value per SunTrust Bank share is $62.85.

Chipotle gained $50.94 to $577.00 after reporting higher than consensus fourth quarter earnings.

MetLife (MET $45.20) is expected to open lower after the company reported lower than consensus fourth quarter revenues.

Nutrient (NTR $68.44 Cdn) is expected to open lower after the company reported lower than consensus fourth quarter earnings and revenues.

BCE (BCE $57.56 Cdn) is expected to open higher after reporting slightly higher than consensus fourth quarter earnings..

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/02/06/stock-market-outlook-for-february-7-2019/

Note seasonality charts on Crude Days of Supply, Gasoline Days of Supply and U.S. Trade.

Observations

Nice move by the TSX Financial Services Index above 293.64 extending a short term uptrend!

Copper Miners ETF moved above $20.56 completing a double bottom pattern. 'Tis the season for strength in copper and copper stocks/ETFs to the end of April!

StockTwits Released Yesterday @EquityClock

Intact Financial $IFC.CA moved above $108.42 extending an intermediate uptrend

Editor's Note: Higher than expected results and a dividend increase.

Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakouts: $FB $CTSH $QRVO. Breakdowns: $ATVI $TTWO

Editor's Note: After 10:00 AM EST, breakouts included APC, BSX, FLIR, MU, HPE, MSI, SRE, ANSS, VFC, NOV and FLT. No additional breakdowns.

Another gold stock breakout! Kinross $K.CA, a TSX 60 stock moved above $4.54 extending an intermediate uptrend.

Fortis $FTS.CA, a TSX 60 stock moved above $47.36 to an all-time high extending an intermediate uptrend.

Linamar $LNR.CA moved above $51.51 following BNNBloomberg interview extending an intermediate uptrend.

Tahoe Resources $THO.CA moved above$5.10 extending an intermediate uptrend

Aerospace & Defense ETF $PPA moved above $57.39 extending an intermediate uptrend.

Editor's Note: $ITA, another aerospace & Defense ETF also broke out, completing a similar technical pattern.

AltaGas $ALA.CA moved above $14.51 completing a base building pattern.

Power Financial $PWF.CA moved above $27.45 extending an intermediate uptrend.

Trader's Corner.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for February 6th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for February 6th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 6th 2019

Green: Increase from previous day

Red: Decrease from previous day

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

Upcoming BNN Appearance:

Jon Vialoux will be on BNN's Market Call Tonight at 6:00pm ET this Friday, February 8th taking your calls on Technical Analysis and Seasonal Investing.  CALL TOLL-FREE 1-855-326-6266,  EMAIL marketcall@bnnbloomberg.ca,  or TWEET @MarketCall.

S&P 500 Momentum Barometer

The Barometer slipped 1.60 to 86.40 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 0.06 to 85.96 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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