Technical Notes
NASDAQ Composite Index $COMPQ moved below 18,831.91 completing a double top pattern.
Weakness in the NASDAQ Composite Index was led by Technology SPDRs $XLK on a move below $225.45 and $224.49 setting an intermediate downtrend.
Semiconductor iShares $SOXX moved below $208.98 and $208.56 setting an intermediate downtrend. VanEck Semiconductor ETF $SMH moved below $232.24 setting an intermediate downtrend.
S&P Midcap 400 SPDRs $MDY moved below $560.89 completing a double top pattern.
NASDAQ 100 stocks moving below support setting intermediate downtrends included
Applied Materials $AMAT on a move below $158.59, Copart $CPRT on a move below $55.12 and eBay $EBAY on a move below $63.50
Royal Bank $RY.TO a TSX 60 stock moved below Cdn$167.45 and Cdn$166.78 setting an intermediate uptrend (despite reporting higher than consensus first quarter results).
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for February 27th 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 27th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for February 27th 2025
Green: Increase from previous day
Red: Decrease from previous day
Link offered by a valued provider
The aversion to bonds is over, says Goldman’s Alexandra Wilson-Elizondo
The aversion to bonds is over, says Goldman’s Alexandra Wilson-Elizondo – YouTube
Gene Munster: Nvidia Earnings Key Takeaways: Dan Nathan
Gene Munster: Nvidia Earnings Key Takeaways – YouTube
Former Blackstone President Tony James: The economy is weakening and consumer is starting to buckle
How a trade war could impact Canada’s investment landscape: Claire Fen, RBC Economist
How a trade war could impact Canada’s investment landscape – YouTube
Expect seasonal stock market weakness: Stifel Chief Equity Strategist
Expect seasonal stock market weakness: Strategist – YouTube
Welcome to the Stagflation Party: Guy Adami, Dan Nathan and Liz Thomas
Welcome to the Stagflation Party – YouTube
CHART THIS with David Keller, CMT
https://www.youtube.com/watch?v=6DtoZRi-OpY
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 3.80 to 49.20. It remains Neutral.
The long term Barometer dropped 2.00 to 58.00. It changed from Overbought to Neutral on a move below 60.00.
TSX Momentum Barometers
The intermediate term Barometer dropped 4.55 to 45.00. It remains Neutral.
The long term Barometer was unchanged at 58.18. It remains Neutral
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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Equity Clock Publications