Tech Talk for Thursday January 30th 2020
U.S. equity index futures were lower this morning. S&P 500 futures were down 21 points in pre-opening trade.
Index futures were virtually unchanged following release of economic reports at 8:30 AM EST. Consensus for first estimate of fourth quarter was growth at a 2.1% annual rate, unchanged from the third quarter. Actual was 2.1%. Consensus for Weekly Jobless Claims was 215,000 versus upwardly revised 223,000 last week. Actual was 216,000.
Tesla jumped $67.51 to $648.50 after reporting higher than consensus quarterly revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0011-14.png "clip_image001[1]")
Microsoft gained $6.96 to $175.00 after reporting higher than consensus fiscal second quarter earnings. The company also raised third quarter guidance.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0021-15.png "clip_image002[1]")
Facebook dropped $15.53 to $207.70 despite reporting higher than consensus fourth quarter revenues and earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0031-10.png "clip_image003[1]")
PayPal dropped $3.01 to $113.65 after lowering guidance.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0041-8.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/01/29/stock-market-outlook-for-january-30-2020/
Note seasonality charts on Crude Oil Days of Supply and Gasoline Days of Supply.
StockTwits released yesterday @EquityClock
General Electric $GE, an S&P 100 stock moved above $12.23 on higher than expected fourth quarter results extending an intermediate uptrend
O’Reilly Automotive $ORLY, a NASDAQ 100 stock moved below $425.28 extending an intermediate downtrend
CGI Group $GIB.A.CA $GIB, a TSX 60 stock moved below $108.03 Cdn and $82.91 U.S. setting an intermediate downtrend
eBay $EBAY, a NASDAQ 100 stock moved below $34.39 extending an intermediate downtrend. The company lowered first quarter guidance.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for January 29th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for January 29th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for January 29th 2020
Green: Increase from previous day
Red: Decrease from previous day
The Canadian Technician
Link to Greg Schnell's comments released yesterday. Focus is on commodities.
https://stockcharts.com/articles/canada/2020/01/commodities-need-to-bounce-her-779.html
Michael Campbell's Money Talk Radio Show
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
S&P 500 Momentum Barometer
The Barometer dropped 3.21 to 56.91 yesterday. It changed back to intermediate neutral from intermediate overbought on a move below 60.00.
TSX Momentum Barometer
The Barometer added 1.38 to 63.76 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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