Tech Talk for Tuesday February 27th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening comments. Investors are awaiting Federal Reserve Chairman Jerome Powell's testimony on monetary policy to be made at 10:00 AM EST.

Index futures moved lower following release of economic news released at 8:30 AM EST. Chairman Powell's initial comments were released. In addition, the January Durable Goods Orders report was released. Consensus was a drop of 2.5% versus a gain of 2.8% in December. Actual was a drop of 3.7%. Excluding auto sales, consensus was an increase of 0.5% versus a gain of 0.7% in December. Actual was a decline of 0.3%

The Canadian Dollar slipped US 0.13 to 78.76 cents prior to release of the Federal Government budget after the close today.

Bank of Nova Scotia (BNS $ $78.79) is expected to open higher after reporting higher than consensus fiscal first quarter earnings. Scotia Bank also raised its dividend.

Bank of Montreal (BMO $99.58) is expected to open higher after reporting higher than consensus fiscal first quarter earnings.

Nordstrom (JWN $52.40) is expected to open higher on a new report that the company will go private.

Macy's gained $2.46 to $29.91 after releasing higher than consensus fourth quarter sales and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/02/26/stock-market-outlook-for-february-27-2018/

Note seasonality charts on the Technology sector, New Home Sales and Margin Debt.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:45: Quietly bullish. Breakouts: $NFLX $MA $MU $DUK. Breakdown: $GE.

Editor's Note: After 10:45 AM EST, breakouts included AXP, EMN, AME and CBG. No breakdowns.

Netflix $NFLX, one of the FAANG stocks moved above $286.81 to all-time high extending an intermediate uptrend.

Russian ETF $RSX moved above $24.05 to a 4 year high extending an intermediate uptrend.

Enerplus $ERF.CA moved above $14.53 and $14.68 completing a long term reverse Head & Shoulders pattern.

'Tis the season for Enerplus $ERF to move higher to early June!

General Electric $GE, a Dow Jones Industrial stock moved below $14.11 to a 6 year low extending an intermediate downtrend.

First Service Corp $FSV.CA moved above $90.47 extending an intermediate uptrend.

Technology SPDRs $XLK moved above $69.19 to an all-time high extending an intermediate uptrend.

Wolf on Bay Street: February 24th

Includes an interview with Don Vialoux on commodities and markets

https://omny.fm/shows/640-toronto/hifi-radio-with-the-wolf-on-bay-street-wolfgang-43?in_playlist=640-toronto!hifi-radio-with-the-wolf-on-bay-street-wolfgang-kl

Keith Richards' Blog

Sometimes, the market moves because people believe it will move, thus creating a self-fulfilling prophesy!

http://www.valuetrend.ca/self-fulfilling-prophesy/

Traders' Corner

Daily Seasonal/Technical Equity Trends for February 26th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for February 26th 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 26th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added another 4.20 to 55.60 yesterday. It continues to trend higher and is slightly intermediate overbought.

TSX Momentum Barometer

The Barometer advanced another 3.53 to 34.15 yesterday. It continues to trend higher, but remains intermediate oversold.

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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