Tech Talk for Wednesday February 6th 2019

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for fourth quarter U.S. Productivity was growth at a 1.6% annual rate versus growth at 2.3% in the third quarter. Actual was growth at a 1.3%. Consensus for U.S. November Trade Deficit was $54.0 billion versus revised $55.7 billion in October. Actual was $49.3 billion.

Electronic Arts dropped $14.75 to $77.77 after reporting less than consensus fiscal third quarter revenues and earnings. The company also lowered guidance.

Eli Lilly (LLY $120.43) is expected to open lower after reporting lower than consensus fourth quarter earnings. The company also lowered guidance.

Cummins (CMI $149.82) is expected to open lower after reporting lower than consensus quarterly earnings.

General Motors gained $1.20 to $40.50 after reporting higher than consensus fourth quarter sales and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/02/05/stock-market-outlook-for-february-6-2019/

Note seasonality charts on the DAX Index and the CAC Index

Observations

Disney moved above $113.18 after the close yesterday following release of higher than consensus revenues and earnings.

Nice breakout by the Australian equity market! Growing bullish sentiment for "commodity based" and " Chinese influenced" markets!

Encouraging strength by Chinese stocks and related ETFs prior to start of the Chinese New Year holiday!

Chinese equity markets have a history of moving higher following the Chinese New Year holiday.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bullish. Intermediate breakouts: $COTY $ZBH $SWKS Breakdown: $CHD

Editor's Note: After 10:00 AM EST, intermediate breakouts included VIAB, APC, TRIP, CTAS, JBHT, INTU, MCO, MTD, GM, KMI, CB, RSG, FIS and XRX. No breakdowns.

Loblaw Companies $L.CA, a TSX 60 stock moved above $64.89 to an all-time high extending an intermediate uptrend.

Alimentation Couche Tard $ATD.B.CA, a TSX 60 stock moved above $72.39 to an all-time high extending an intermediate uptrend

Mexico iShares $EWW moved above $45.56 extending an intermediate uptrend.

More energy stock breakouts! Anadarko Petroleum $APC moved above $48.82 completing a base building pattern

Tis the season for Anadarko Petroleum $APC and other energy stocks to move higher to the end of April!

Trader's Corner.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for February 5th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for February 5th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 5th 2019

Green: Increase from previous day

Red: Decrease from previous day

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

S&P 500 Momentum Barometer

The Barometer added 0.60 to 88.00 yesterday. It remains intermediate overbought, but continues to trend higher

TSX Momentum Barometer

The Barometer added 3.20 to 85.90 yesterday. It remains intermediate overbought, but continues to trend higher.

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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