Pre-opening Comments for Friday February 20^th

U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points at 8:35 AM EST.

S&P 500 futures were down 15 points following release of economic news at 8:30 AM EST. Consensus for updated U.S. Fourth Quarter Annualized GDP was a 2.5% rate versus a 4.4% rate in the third quarter. Actual was 1.4%. Consensus for December Personal Income was a 0.2% increase versus a 0.3% gain in November. Actual was a 0.3% gain. Consensus for December Personal Spending was a 0.4% increase versus a 0.5% increase in November. Actual was a 0.4% gain. Consensus for December Core PCE Index on a year-over-year basis was 3.0% versus 2.8% in November. Actual was a 3.0 increase.

Akamai Technologies (AKAM) dropped $5.59 to $104.00 after releasing first quarter guidance below consensus.

Walmart (WMT) was unchanged at $124.87 despite reporting higher than consensus fourth quarter revenues and earnings. Guidance offered by the company was less than expected.

Newmont (NEM) advanced $2.50 to $127.90 after reporting higher than consensus fourth quarter revenues and earnings

EquityClock’s Market Outlook for February 20^th

Wall Street Wobbles—But the growth in the Manufacturing economy is still evolving. See:

https://equityclock.com/2026/02/19/stock-market-outlook-for-february-20-2026/

Technical Notes

First Trust Natural Gas ETF (FCG) moved above $27.25 extending an intermediate uptrend.

U.S. Crude Oil Fund (USO) moved above $80.38 and $81.13 extending an intermediate uptrend.

General Electric Aerospace (GE) moved above $332.79 to an all-time high extending an intermediate uptrend.

Canadian Tire (CTC.A.TO) a TSX 60 stock moved above Cdn$188.45 to an all-time high extending an intermediate uptrend.

Agnico-Eagle Mines (AEM.TO) a TSX 60 stock moved above Cdn$305.68 to an all-time high extending an intermediate uptrend.

Canadian Pacific (CP.TO) a TSX 60 stock moved above Cdn$141.45 extending an intermediate uptrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for February 19^th 2026

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 2026

Green: Increase from previous day

Red: Decrease from previous day

Sectors

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

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

What To Make Of This Very Weird Market: Guy Adami and Dan Nathan

https://www.youtube.com/watch?v=pq5vnBieQR8

What To Make Of This Very Weird Market: ValueTrend Canada

https://www.youtube.com/watch?v=r5k_V94_SuA

MARKET TRAP: Why Stocks Keep Fading! Plus DASH, CVNA & Oil Breakout, Silver Forecast: Verified Investing

https://www.youtube.com/watch?v=pDE0UE_HBWE

The S&P “Duck” Market: Gina Martin Adams on Concentration Risk, Earnings & Sector Dispersion: David Keller and Gina Martin Adams

https://www.youtube.com/watch?v=MQn1q4Mmp4w

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 2.80 to 64.00. It remains Overbought.

The long term Barometer dropped 1.60 to 66.40. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer was unchanged at 76.50. It remains Overbought.

The long term Barometer added 0.46 to 81.11. 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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