Pre-opening Comments for Wednesday February 14^th

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.

Robin Hood advanced $1.81 to $13.65 after reporting higher than consensus fourth quarter revenues.

Lyft gained $2.07 to $14.20 after offering positive guidance.

Akamai dropped $5.95 to $119.10 after offering guidance below consensus.

 

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.13^th 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.13^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Feb.13^th 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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