Pre-opening Comments for Friday February 21st
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points at 8:30 AM EST.
Newmont Mining added $1.06 to $49.15 after reporting higher than consensus fourth quarter revenues.
Floor & Décor advanced $11.08 to $103.92 after reporting higher than consensus fourth quarter earnings. The company also offer positive guidance.
Booking Holdings gained $160.77 to $5,179.00.after reporting higher than consensus fourth quarter results. The company also announced a 10% dividend increase.
Consolidated Edison added $0.24 to $96.00 after reporting higher fourth quarter revenues. The company also raised its dividend
EquityClock’ Stock Market Outlook for February 21st
Housing activity has been strained to start the year and this is taking a toll on the stocks with exposure. See:
https://equityclock.com/2025/02/20/stock-market-outlook-for-february-21-2025/
Technical Notes
Chinese stocks continue moving higher. JD.com moved above $42.44 and $42.73 setting an intermediate uptrend.
Analog Devices $ADI a NASDAQ 100 stock moved above $242.16 to an all-time high extending an intermediate uptrend.
American Electric Power $AEP a NASDAQ 100 stock moved above $103.20 to an all-time high extending an intermediate uptrend.
Caterpillar $CAT a Dow Jones Industrial Average stock moved below $348.52 extending an intermediate downtrend.
Couche Tard $ATD.TO a TSX 60 stock moved below Cdn$71.14 extending an intermediate downtrend.
Loblaw Companies $L.TO a TSX 60 stock moved below Cdn$175.66 completing a Head & Shoulders pattern.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for February 20th 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 20th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for February 20th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Expect the current bull market to continue this year, says JPMorgan’s Jack Caffrey
Expect the current bull market to continue this year, says JPMorgan’s Jack Caffrey – YouTube
Understanding PLTR Move, WMT Fade, BABA Surge and CVNA Plummet
Understanding PLTR Move, WMT Fade, BABA Surge and CVNA Plummet – YouTube
Bank of Canada rate path and outlook on loonie
Bank of Canada rate path and outlook on loonie – YouTube
David Keller BLINDLY RANKS 5 Technical Indicators!
https://www.youtube.com/watch?v=97nkxapaM5U
Are Stocks a Ticking Time Bomb? Tom Bowley
https://www.youtube.com/watch?v=yDdWbjCTx1w
Market Pullback Ahead: Sectors to Avoid Now! ValueTrendCanada: Note seasonality comments
https://www.youtube.com/watch?v=BDdRYpj_bKo
CHART THIS with David Keller, CMT Thursday 2/20/25 David Keller
https://www.youtube.com/watch?v=5-hBaHKRvRs
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 2.20 to 57.60. It remains Neutral.
The long term Barometer slipped 0.20 to 62.40. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 1.14 to 51.36. It remains Neutral.
The long term Barometer added 1.19 to 63.18. 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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February 23rd, 2025 at 3:26 pm
West Texas Intermediate Crude (WTIC) has been trading sideways for over two years. Crude has also been underperforming the the SPX and DBC (Invesco’s broad commodity ETF) for a long while. A weekly close of the crude price above the down-sloping trendline could change the story.
https://schrts.co/xrTIQguC
February 23rd, 2025 at 5:41 pm
Fish
I think we see 50ish before 80ish this year/next. However, once we see the next leg lower, it may be the opportunity to go into energy for a long trade. Based on the performance of small/mid/large caps it looks like only the large cap will see much of a rebound and present the best value.
February 23rd, 2025 at 6:44 pm
Bman/Van
50ish oil! I never considered that outcome. But, you are right, it is possible.