Tech Talk for Tuesday February 5th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade.

Alphabet (GOOGL) dropped $27.17 to $1114.25 despite reporting higher than consensus fourth quarter sales and earnings. Profit margins on advertising revenues were less than consensus. Several investment firms slightly lowered their target price on the stock.

Gilead (GILD $70.05) is expected to open lower after reporting less than consensus fourth quarter earnings.

WestJet (WJA 20.20 Cdn) is expected to open higher after reporting higher than consensus fourth quarter earnings.

Este Lauder added $13.82 to $149.99 after reporting higher than consensus second quarter earnings. The company also raised guidance.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/02/04/stock-market-outlook-for-february-5-2019/

Note seasonality chart on Manufacturers New Orders.

StockTwits Released Yesterday @EquityClock

Natural Gas ETN $UNG moved below $23.93 extending an intermediate downtrend

Nickel ETN $JJNTF moved above $15.88 extending an intermediate uptrend. Base metal prices continue to move higher!

Editor's Note: Nice breakout by another base metal yesterday. Zinc moved above $1.24 to $1.2657 per lb. completing a seven month base building pattern! Good for zinc stocks!

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout: $CLX on favourable earnings news. No breakdowns.

Editor's Note: After 10:00 AM EST, breakouts included ADSK, BA, GPN, DLPH, EXPE, GOOG, GOOGL, INTU, LOW, COP, PKI, AOS, CINF and WYND. No breakdowns.

Boeing $BA, a Dow Jones Industrial stock moved above $392.47 to an all-time high extending an intermediate uptrend

Cott Corp. $BCB.CA moved above $20.30 completing a base building pattern.

Alphabet $GOOG, one of the FAANG stocks moved above $1124.65 prior to earning report later today completing a double bottom pattern

Editor's Note: Ditto for GOOGL Note that both stocks moved about 3% lower after the close following release of quarterly results.

Shaw Communications $SJR $SJR.CA, a TSX 60 stock moved above $20.53 U.S. extending an intermediate uptrend.

Cameco $CCJ $CCO.CA, a TSX 60 stock moved above $16.62 Cdn. extending an intermediate uptrend.

‘Tis the season for strength in Cameco $CCJ $CCO.CA to move higher to the end of May!

Delayed by the #shutdown, US Factory Orders for November showed a 5.5% (NSA) decline, weaker than 4.3% average drawdown . $MACRO #Economy

Delphi Technologies $DLPH moved above $18.38 completing a reverse Head & Shoulders pattern.

Trader's Corner.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for February 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for February 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Link to David Chapman's Weekly Report, compliments of www.EnrichedInvesting.com

http://enrichedinvesting.com/wp-content/uploads/2019/02/Fed-blink-stock-ignition-Nonfarm-inflation-confidence-slide-trade-fade-debt-fuel-commodity-boom.pdf

Hap Sneddon on BNNBloomberg's Market Call Today

Following are links:

Top Picks
https://www.bnnbloomberg.ca/video/hap-sneddon-s-top-picks~1603204

Past Picks:

https://www.bnnbloomberg.ca/video/hap-sneddon-s-past-picks~1603197

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

S&P 500 Momentum Barometers

The Barometer added another 1.20 to 87.40 yesterday. It remains intermediate overbought, but continues to trend higher.

TSX Momentum Barometer

The Barometer slipped 2.53 to 82.28 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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