Tech Talk for Tuesday February 25th 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade.

Bank of Montreal (BMO $99.47) is expected to open higher after releasing higher than consensus fiscal first quarter earnings.

Bank of Nova Scotia (BNS $73.15) is expected to open higher after releasing higher than consensus fiscal first quarter earnings.

Home Depot (HD $239.70) is expected to open higher after releasing higher than consensus fourth quarter earnings. The company also raised its dividend.

Disney added $0.84 to $133.85 after Deutsche Bank raised its target price from $139 to $147.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/02/24/stock-market-outlook-for-february-25-2020/

Note seasonality charts on Dow Jones Corporate Bond Index and the VIX Index

StockTwits released yesterday @EquityClock

32 S&P 100/NASDAQ 100 stocks broke intermediate support this morning including Dow Industrial stocks: $DIS $NKE $AXP $MMM $UTX $AAPL $INTC

Editor's Note: Add CSCO, V and WBA to the list

U.S. Equity ETFs that broke support this morning included $MOO $XLE $EZU $DIA, $KBE $KRE $XME $SLX $SOIL

Editor's Note: Add IYT, COPX, PICK, IAI, XLI and XLF to the list

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for February 24th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for February 24th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 24th 2020

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Comments by David Chapman compliments of www.EnrichedInvesting.com

Following is the link:

https://www.enrichedinvesting.com/wp-content/uploads/2020/02/Irrational-exuberance-COVID-19-surprise-negative-spread-gold-target-divergences-abound-stimulus-fuel.pdf

Hap Sneddon on BNN Bloomberg's Market Call Tonight

Market Outlook

https://www.bnnbloomberg.ca/video/hap-sneddon-s-market-outlook~1907892

Past Picks

https://www.bnnbloomberg.ca/video/hap-sneddon-s-past-picks~1907920

Top Picks

https://www.bnnbloomberg.ca/video/hap-sneddon-s-top-picks~1907951

S&P 500 Momentum Barometer

The Barometer plunged 10.04 to 38.48 yesterday. It changed from intermediate overbought to intermediate oversold on a move below 40.00. Trend remains down.

TSX Momentum Barometer

The Barometer plunged 9.45 to 50.00 yesterday. It remains intermediate neutral and is trending down.

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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