{"id":164008,"date":"2023-02-28T02:22:00","date_gmt":"2023-02-28T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=164008"},"modified":"2023-02-28T08:48:19","modified_gmt":"2023-02-28T13:48:19","slug":"tech-talk-for-tuesday-february-28th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/02\/28\/tech-talk-for-tuesday-february-28th-2023\/","title":{"rendered":"Tech Talk for Tuesday February 28th 2023"},"content":{"rendered":"

Pre-opening Comments for Tuesday February 28th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 9 points in pre-opening trade.<\/em><\/p>\n

The Canadian Dollar dipped 0.11 to US73.61 cents following release of Canada\u2019s Gross Domestic Product report at 8:30 AM EST.<\/b> Consensus for December was an increase of 0.1% versus a gain of 0.1% in November. Actual was a drop of 0.1%. Consensus for GDP growth in 2022 was an increase of 2.7%. Actual was an increase of 2.3%.<\/em><\/p>\n

Zoom advanced $5.48 to 79.20<\/b> after reporting higher than consensus fourth quarter customer growth. The company also offered positive guidance for 2023.<\/em><\/p>\n

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Progyny jumped $4.86 to $35.05 <\/b>after reporting higher than consensus fourth quarter revenues. The company also offered positive guidance for 2023. <\/em><\/p>\n

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Meg Energy (MEG.TO Cdn22.48) is expected to open higher<\/b> after offering positive guidance on bitumen output in 2023<\/em><\/p>\n

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Bank of Montreal (BMO.TO) is expected to open higher<\/b> after reporting higher than consensus fiscal first quarter operating earnings. <\/em><\/p>\n

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Scotia Bank (BNS.TO) is expected to open lower<\/b> after reporting lower than consensus fiscal first quarter operating earnings. <\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n

Headline reads \u201cHealth care providing confounding signals as it struggles below resistance, but a couple of industry groups within the sector continue to show bottoming patterns that we want to be exposed to<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/02\/27\/stock-market-outlook-for-february-28-2023\/<\/em><\/a><\/p>\n

<\/em><\/p>\n

Links offered by valued providers<\/strong><\/font><\/em><\/p>\n

Offense Over Defense As SPX Tests Support | David Keller<\/font><\/strong>\/The Final Bar (02.27.23)<\/em><\/p>\n

https:\/\/www.youtube.com\/watch?v=GHyBBdCFNYA<\/em><\/a><\/p>\n

 <\/p>\n

Not Too Late for Natural Gas | Carl Swenlin & Erin Swenlin<\/font><\/strong> | DecisionPoint (02.27.23)<\/em><\/p>\n

https:\/\/www.youtube.com\/watch?v=9-pq3lr1p_Q<\/em><\/a><\/p>\n

 <\/p>\n

Technical Notes<\/strong><\/font><\/p>\n

Wheat ETN $WEAT moved below $7.23 extending an intermediate downtrend.<\/p>\n

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Pharmaceutical ETF $PPH moved below $76.19 completing a Head & Shoulders pattern. <\/p>\n

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Bristol-Myers $BMY an S&P 100 stock moved below $69.80 extending an intermediate downtrend.<\/p>\n

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Eli Lilly $LLY an S&P 100 stock moved below $315.98 extending an intermediate downtrend. <\/p>\n

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Natural Gas ETN $UNG moved above intermediate resistance at $8.92. \u201cGassy\u201d stocks responded accordingly. <\/p>\n

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 <\/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.27th<\/sup> 2023<\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/em><\/p>\n

 <\/p>\n

Commodities<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Commodities Trends for Feb.27th<\/sup> 2023<\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/em><\/p>\n

<\/em><\/p>\n

Sectors<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Sector Trends for Feb.27th<\/sup> 2023 <\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

<\/em><\/p>\n

Links offered by a valued provider<\/strong><\/font><\/p>\n

Defensive Names With Growth | Mary Ellen McGonagle | Your Daily Five (02.27.23)<\/p>\n

Defensive Names With Growth | Mary Ellen McGonagle | Your Daily Five (02.27.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n

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The intermediate term Barometer added 2.20 to 47.60. It remains Neutral.<\/p>\n

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The long term Barometer was unchanged at 59.80. It remains Neutral. Trend remains down.<\/p>\n

 <\/p>\n

TSX Momentum Barometers<\/strong><\/font><\/p>\n

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The intermediate term Barometer slipped 1.70 to 51.49. It remains Neutral.<\/p>\n

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The long term Barometer added 2.98 to 60.85. It changed from Neutral to Overbought by moving back above 60.00. <\/p>\n

 <\/p>\n

Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/em><\/a> 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<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Tuesday February 28th U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. The Canadian Dollar dipped 0.11 to US73.61 cents following release of Canada\u2019s Gross Domestic Product report at 8:30 AM EST. Consensus for December was an increase of 0.1% versus a gain […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-164008","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/164008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/comments?post=164008"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/164008\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=164008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=164008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=164008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}