<\/em><\/p>\n Pre-opening Comments for Friday February 3rd<\/sup><\/strong><\/font><\/p>\n U.S. futures were lower this morning<\/b>. S&P 500 futures were down 44 points at 8:35 AM EST.<\/em><\/p>\n January Non-farm Payrolls<\/b> released at 8:30 AM EST was expected to increase 185,000 versus a gain of 223,000 in December. Actual was a gain of 517,000. January Unemployment Rate was expected to increase to 3.6% from 3.5% in December. Actual was a drop to 3.4%. January Average Hourly Earnings were expected to increase 0.3% versus a gain of 0.3% in December. Actual was a gain of 0.3%. On a year-over-year basis, January Average Hourly Earnings were expected to increase 4.3% versus a gain of 4.6% in December. Actual was an increase of 4.4%.<\/em><\/p>\n Apple<\/b> initially dropped $5.02 after reporting lower than consensus fiscal first quarter revenues and earnings. However, the stock recovered after the company offered favourable guidance, closing down $2.62 to $148.20.<\/em><\/p>\n Amazon<\/b> dropped $4.91to $108.00 after the company lowered guidance<\/em>. <\/p>\n Alphabet <\/b>dropped $3.66 to $104.08 after reporting less than consensus quarterly results.<\/em><\/p>\n Starbucks<\/b> fell $3.65 to $105.50 after reporting less than consensus quarterly results.<\/em><\/p>\n Ford <\/b>plunged $0.91 to $13.41 after reporting less than consensus fourth quarter results. <\/em><\/p>\n Gilead<\/b> added $1.97 to $88.36 after reporting higher than consensus fourth quarter revenues and earnings. <\/em><\/p>\n <\/p>\n EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n Headline reads \u201cBearish sentiment that provided an excellent contrarian buy signal for stocks at the end of December has rapidly neutralized<\/strong>\u201d.<\/em><\/p>\n http:\/\/www.equityclock.com\/2023\/02\/02\/stock-market-outlook-for-february-3-2023\/<\/em><\/a><\/p>\n <\/em><\/p>\n Technical Notes<\/strong><\/font><\/p>\n Retail SPDRs $XRT moved above $74.70 extending an intermediate uptrend. <\/p>\n Lowes $LOW an S&P 100 stock moved above $220.29 extending an intermediate uptrend. <\/p>\n United Parcel Services $UPS an S&P 100 stock moved above $191.60 extending an intermediate uptrend.<\/p>\n Alphabet $GOOG $GOOGL a NASDAQ 100 stock moved above $102.59 and $102.25 respectively after reporting higher than consensus quarterly results. <\/p>\n Align Technology $ALGN a NASDAQ 100 stock moved above $302.97 extending an intermediate uptrend. <\/p>\n Intuit $INTU a NASDAQ 100 stock moved above $441.09 resuming an intermediate uptrend.<\/p>\n Marvell Technology $MRVL a NASDAQ 100 stock moved above $47.26 resuming an intermediate uptrend.<\/p>\n Fastenal $FAST a NASDAQ 100 stock moved above $43.12 extending an intermediate uptrend.<\/p>\n Chevron $CVX a Dow Jones Industrial Average stock moved below $167.10 completing a double top pattern<\/p>\n Sirius $SIRI a NASDAQ 100 stock moved below $5.68 extending an intermediate downtrend. <\/p>\n Bristol-Myers Squibb $BMY an S&P 100 stock moved below $70.31 extending an intermediate downtrend. <\/p>\n Gilead $GILD a NASDAQ 100 stock moved below $81.81 completing a double top pattern.<\/p>\n Note that the company reported higher than consensus fourth quarter results after the close. The stock gained $1.97 to $88.36.<\/p>\n Honeywell $HON a Dow Jones Industrial Average stock moved below $198.81 extending an intermediate downtrend. <\/p>\n Travelers $TRV a Dow Jones Industrial Average stock moved below $181.36 completing a modified Head & Shoulders pattern.<\/p>\n Thomson Reuters $TRI.TO a TSX 60 stock moved above $159.82 to an all-time high extending an intermediate uptrend. <\/p>\n Algonquin Power $AQN.TO a TSX 60 stock moved above $9.99 completing a double bottom pattern. <\/p>\n Constellation Software $CSU.TO a TSX 60 stock moved above $2,381.28 to an all-time high extending an intermediate uptrend. <\/p>\n George Weston $WN.TO a TSX 60 stock moved below $165.42 completing a double top pattern.<\/p>\n <\/p>\n Trader\u2019s Corner<\/strong><\/font><\/p>\n <\/font><\/strong><\/p>\n Equity Indices and Related ETFs<\/strong><\/font><\/p>\n Daily Seasonal\/Technical Equity Trends for Feb.2nd<\/sup> 2023<\/p>\n Green: Increase from previous day<\/font><\/em><\/p>\n Red: Decrease from previous day<\/font><\/em><\/p>\n <\/em><\/p>\n Commodities<\/strong><\/font><\/p>\n Daily Seasonal\/Technical Commodities Trends for Feb.2nd<\/sup> 2023<\/p>\n Green: Increase from previous day<\/b><\/font><\/em><\/p>\n Red: Decrease from previous day<\/font><\/em><\/p>\n <\/p>\n Sectors<\/strong><\/font><\/p>\n Daily Seasonal\/Technical Sector Trends for Feb.2nd<\/sup> 2023 <\/p>\n Green: Increase from previous day<\/font><\/em><\/p>\n Red: Decrease from previous day<\/font><\/em><\/p>\n <\/p>\n Link offered by valued provider<\/strong><\/font><\/p>\n <\/font><\/strong><\/p>\n Mark Leibovit<\/font><\/em><\/strong> comment<\/p>\n Interest Rates, Gold, US Dollar, Lithium, Cryptos \u2013 HoweStreet<\/a><\/p>\n <\/p>\n S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n The intermediate term Barometer slipped 1.60 to 74.20. It remains Overbought.<\/p>\n The long term Barometer added 3.60 to 78.00. It remains Overbought. Trend is up. <\/p>\n <\/p>\n TSX Momentum Barometers<\/strong><\/font><\/p>\n The intermediate term Barometer dropped 4.66 to 70.76. It remains Overbought. Short term trend has turned down.<\/p>\n The long term Barometer slipped 1.27 to 72.46. It remains Overbought.<\/p>\n <\/b><\/p>\n![\"clip_image001[1]\"](\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/02\/clip_image0011-2.png\" "\\"clip_image001[1]\\"")
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