Tech Talk for Wednesday February 5th 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 28 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news. Consensus for January ADP employment was 158,000 versus 202,000 in December. Actual was 291,000. Consensus for December U.S. Trade Deficit was $48.00 billion versus $43.10 billion in November. Actual was $48.9 billion.

The Canadian Dollar was virtually unchanged at US 75.28 cents following release of the December Canadian Trade Deficit. Consensus was $1.15 billion versus $1.09 billion in November. Actual was $370 million.

Merck slipped $0.98 to $87.38 after reporting lower than consensus fourth quarter revenues.

Ford dropped $0.68 to $9.18 after reporting lower than consensus fourth quarter earnings. Target price was dropped by Deutsche Bank and JP Morgan

Walt Disney added $0.67 to $145.35 after reporting higher than consensus fiscal first quarter revenues and earnings. Target price was raised from $160 to $170 by JP Morgan

Chipotle gained $17.18 to $902.00 after reporting higher than consensus fourth quarter earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/02/04/stock-market-outlook-for-february-5-2020/

Note seasonality charts on Health Care and Durable Goods Orders. Also, note study on performance of S&P 500 Index following State of the Union address during U.S. Presidential Election years.

StockTwits released yesterday

Colgate $CL, an S&P 100 stock moved above $75.47 to an all-time high extending an intermediate uptrend.

Lululemon $LULU, a NASDAQ 100 stock moved above $247.51 to an all-time high extending an intermediate uptrend.

Auto ETF $CARZ moved above $34.50 and $35.25 extending an intermediate uptrend.

Lithium ETN $LIT moved above $31.09 extending an intermediate uptrend.

Constellation Software $CSU.CA, a TSX 60 stock moved above $1,439.37 to an all-time high extending an intermediate uptrend.

Accenture $ACN, an S&P 100 stock moved above $212.43 to an all-time high extending an intermediate uptrend.

MercadoLibre $MELI, a NASDAQ 100 stock moved above $698.98 to an all-time high extending an intermediate uptrend.

U.S. Oil ETN $USO moved below $10.49 setting an intermediate downtrend.

eBay $EBAY, a NASDAQ 100 stock moved above $36.52 completing a base building pattern.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for February 4th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for February 4th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 4th 2020

Green: Increase from previous day

Red: Decrease from previous day

Don Vialoux on Michael Campbell's Money Talks

Recorded on Saturday. Following is a link:

https://mikesmoneytalks.ca/complete-show-feb-1st/?mc_cid=1715165acb&mc_eid=592546b4b5

S&P 500 Momentum Barometer

The Barometer added 9.22 to 58.92 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer added 3.69 to 58.53 yesterday. It remains intermediate neutral.

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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