Tech Talk for Wednesday February 14th 2024
U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points at 8:30 AM EST.
Zillow Group added $1.34 to $53.40 after reporting higher than consensus fourth quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/02/clip_image0011-3.png "clip_image001[1]")
Robin Hood advanced $1.81 to $13.65 after reporting higher than consensus fourth quarter revenues.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/02/clip_image0021-4.png "clip_image002[1]")
Lyft gained $2.07 to $14.20 after offering positive guidance.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/02/clip_image0031-3.png "clip_image003[1]")
Akamai dropped $5.95 to $119.10 after offering guidance below consensus.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/02/clip_image0041-4.png "clip_image004[1]")
Technical Notes
Canadian Dollar $CDW moved below US73.83 cents setting an intermediate downtrend.
TSX Composite Index dropped below its 20 and 50 day moving averages. It also broke intermediate support at 20,594.28.
20+ year U.S. Treasury Bond iShares $TLT moved below $92.80 completing a double top pattern.
Conversely, Yield on U.S. 10 year Treasuries $TNX moved above 4.20% setting an intermediate uptrend.
Gold ETN $GLD moved below $185.45 completing a double top pattern.
Walgreens Boots $WBA a Dow Jones Industrial Average stock moved below $21.58 setting an intermediate downtrend
Global Base Metals iShares $PICK moved below $38.97 setting an intermediate downtrend.
Rio Tinto $RIO one of the world's largest base metals producers moved below $67.09 setting an intermediate downtrend.
Restaurant Brands International $QSR.TO a TSX 60 stock moved below intermediate support at Cdn$101.50 following release of quarterly results.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Feb.13th 2024
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for Feb.13th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Feb.13th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
How LOW Will The S&P 500 Go? Tom Bowley
How LOW Will The S&P 500 Go? - YouTube
Is This The Top For The SPX? Joe Rabil
Is This The Top For The SPX? - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer plunged 13.00 to 53.60. It changed from Overbought to Neutral on a drop below 60.00. Daily downtrend was extended.
The long term Barometer dropped 4.60 to 68.00. It remains Overbought. Daily downtrend was extended.
TSX Momentum Barometers
The intermediate term Barometer plunged 12.89 to 42.67. It remains Neutral. Daily downtrend was extended.
The long term Barometer dropped 7.56 to 52.44. It changed from Overbought to Neutral on a drop below 60.00. Daily downtrend was extended.
Disclaimer: Seasonality ratings 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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