{"id":173405,"date":"2024-01-31T02:22:00","date_gmt":"2024-01-31T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=173405"},"modified":"2024-01-31T08:43:39","modified_gmt":"2024-01-31T13:43:39","slug":"tech-talk-for-wednesday-january-31st-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/01\/31\/tech-talk-for-wednesday-january-31st-2024\/","title":{"rendered":"Tech Talk for Wednesday January 31st 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday January 31st<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 25 points at 8:35 AM EST.<\/em><\/p>\n

The Canadian Dollar added 0.08 to US74.56 cents following release of Canada\u2019s November GDP report at 8:30 AM EST.<\/b> Consensus was an increase of 0.1% versus no change in October. Actual was an increase of 0.2%.<\/em><\/p>\n

Microsof<\/b>t dropped $5.59 to $403.00 despite reporting higher than consensus fiscal second quarter revenues and earnings. <\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

Alphabet<\/b> (GOOGL) dropped $8.38 to $144.31 despite reporting higher than consensus fourth quarter revenues and earnings. <\/em><\/p>\n

\"clip_image002[1]\"<\/a><\/p>\n

Advanced Micro Devices<\/b> dropped $7.71 to $164.35 despite reporting higher than consensus fourth quarter revenues and earnings. <\/em><\/p>\n

\"clip_image003[1]\"<\/a><\/p>\n

Meta Platforms<\/b> dropped $10.56 to $389.50 in response to share price weakness after the close by Microsoft, Alphabet and Advanced Micro Devices following release of their quarterly reports.<\/em><\/p>\n

\"clip_image004[1]\"<\/a><\/p>\n

 <\/p>\n

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

Agriculture<\/b> ETN<\/b> $DBA moved above $21.51 to a 21 month high extending an intermediate uptrend. <\/p>\n

\"clip_image001\"<\/a><\/p>\n

General Motors<\/b> $GM an S&P 100 stock moved above $36.85 extending an intermediate uptrend.<\/p>\n

\"clip_image002\"<\/a><\/p>\n

Money center banks including Citigroup, Wells Fargo and JP Morgan broke to new highs.<\/b><\/p>\n

Citigroup<\/b> $Can S&P 100 stock moved above $36.85 extending an intermediate uptrend. <\/p>\n

\"clip_image003\"<\/a><\/p>\n

Wells Fargo<\/b> $WFC an S&P 100 stock moved above $50.77 extending an intermediate uptrend. <\/p>\n

\"clip_image004\"<\/a><\/p>\n

Danaher<\/b> $DHR an S&P 100 stock moved above $242.55 extending an intermediate uptrend. <\/p>\n

\"clip_image005\"<\/a><\/p>\n

S&P\/TSE Financials iShares<\/b> $XFN.TO moved above Cdn$48.11 extending an intermediate uptrend.<\/p>\n

\"clip_image006\"<\/a><\/p>\n

 <\/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 Jan.30th<\/sup> 2024<\/p>\n

\"clip_image008\"<\/a><\/p>\n

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

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

Source for all positive seasonality ratings: <\/em>www.EquityClock.com<\/em><\/a><\/p>\n

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

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

Daily Seasonal\/Technical Commodities Trends for Jan 30th<\/sup> 2024<\/p>\n

\"clip_image010\"<\/a><\/b> <\/b><\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for Jan.30th<\/sup> 2024<\/p>\n

\"clip_image012\"<\/a><\/p>\n

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

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

 <\/p>\n

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

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

Catalysts Pushing Markets HIGHER or Dragging Them LOWER? David Keller<\/b><\/p>\n

Catalysts Pushing Markets HIGHER or Dragging Them LOWER? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Breaking Records: S&P 500 Soars in Yesterday’s Afternoon Rally: Tom Bowley<\/b><\/p>\n

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

 <\/p>\n

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

\"clip_image013\"<\/a><\/p>\n

The intermediate term Barometer dropped 2.00 to 75.40. It remains Overbought.<\/p>\n

\"clip_image014\"<\/a><\/p>\n

The long term Barometer slipped 1.20 to 74.40. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image015\"<\/a><\/p>\n

The intermediate term Barometer added 1.33 to 71.11. It remains Overbought.<\/p>\n

\"clip_image016\"<\/a><\/p>\n

The long term Barometer slipped 1.33 to 62.22. It remains Overbought.<\/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 Wednesday January 31st U.S. equity index futures were lower this morning. S&P 500 futures were down 25 points at 8:35 AM EST. The Canadian Dollar added 0.08 to US74.56 cents following release of Canada\u2019s November GDP report at 8:30 AM EST. Consensus was an increase of 0.1% versus no change in October. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-173405","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173405","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=173405"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173405\/revisions"}],"predecessor-version":[{"id":173415,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173405\/revisions\/173415"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=173405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=173405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=173405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}