Pre-opening Comments for Thursday February 20^th

U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points at 8:35 AM EST.

S&P 500 futures were unchanged following release of the February Philly Fed Manufacturing Index at 8:30 AM EST. Consensus was a drop to 13.2 from 44.3 in January. Actual was 18.1.

Cheese Cake Factory added $0.51 to $54.80 after reporting higher than consensus fourth quarter revenues and earnings.

Wal-mart dropped $8.85 to $95.15 after issuing guidance below consensus.

Sturm Ruger gained $2.04 to $37.50 after reporting higher than consensus fourth quarter revenues and earnings.

Carvana dropped $28.22 to $253.60 after reporting a drop in revenues per vehicle sold.

EquityClock’s Stock Market Outlook for February 20^th

Magnificent 7 not looking too hot as NVIDIA reaches the upper limit of its “Deepseek selloff” gap. See:

https://equityclock.com/2025/02/19/stock-market-outlook-for-february-20-2025/

Technical Notes

Technology SPDRs $XLK moved above $242.58 to an all-time high extending an intermediate uptrend.

Microchip Technology $MCHP a NASDAQ 100 stock moved above $59.67 and $59.86 setting an intermediate uptrend.

NXP Semiconductor $NXPI a NASDAQ 100 stock moved above $237.68 extending an intermediate uptrend.

Automatic Data Processing $ADP a NASDAQ 100 stock moved above $311.67 to an all-time high extending an intermediate uptrend.

Cadence Design Systems $CDNS a NAS\DAQ 100 stock moved below $285.06 extending an intermediate downtrend.

US Bancorp $USB an S&P 100 stock moved below $46.69 completing a Head & Shoulders pattern.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for February 19^th 2025

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 February 19^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 19^h 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Seeing the earnings picture broaden out in the U.S. and overseas, says Hightower’s Stephanie Link

Seeing the earnings picture broaden out in the U.S. and overseas, says Hightower’s Stephanie Link – YouTube

Palantir, Tech Patriotism & SPX Complacency: What It Means for Markets: Guy Adami and Dan Nathan

Palantir, Tech Patriotism & SPX Complacency: What It Means for Markets – YouTube

HIS is Why I Don’t Use The 20, 50, 200 MA Lines Anymore! Joe Rabil

THIS is Why I Don’t Use The 20, 50, 200 MA Lines Anymore! – YouTube

Market anticipating further tariff delays: Stifel strategist

Market anticipating further tariff delays: strategist – YouTube

David Rosenberg on Trudeau and the Canadian Economy | Jimmy Connor

David Rosenberg on Trudeau and the Canadian Economy | Jimmy Connor – YouTube

Canada’s economic outlook amid looming election

Canada’s economic outlook amid looming election – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 1.00 to 59.80. It remains Neutral.

The long term Barometer added 1.20 to 62.60. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 0.90 to 50.23. It remains Neutral.

The long term Barometer slipped 0.45 to 61.99. It remains Overbought.

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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