{"id":173454,"date":"2024-02-01T02:22:00","date_gmt":"2024-02-01T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=173454"},"modified":"2024-02-01T08:47:27","modified_gmt":"2024-02-01T13:47:27","slug":"tech-talk-for-thursday-february-1st-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/02\/01\/tech-talk-for-thursday-february-1st-2024\/","title":{"rendered":"Tech Talk for Thursday February 1st 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday February 1st<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning. <\/b>S&P 500 futures were up 18 points at 8:30 AM EST.<\/em><\/p>\n

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

C H Robinson<\/b> dropped $5.09 to $79.00 after reporting lower than consensus fourth quarter earnings. <\/em><\/p>\n

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QUAL COMM<\/b> dropped $1.51 to $147.00 despite reporting higher than consensus fourth quarter revenues. <\/em><\/p>\n

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MetLife<\/b> dropped $2.72 to $67.00 after reporting lower than consensus fourth quarter earnings. <\/em><\/p>\n

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Royal Caribbean<\/b> added $3.34 to $130.84 after reporting higher than consensus fourth quarter earnings. The company also offered positive 2024 guidance.<\/em><\/p>\n

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

 <\/p>\n

Responses to FOMC announcement at 2:00 PM EST yesterday<\/strong><\/font><\/p>\n

The FOMC unanimously decided to maintain the Fed Fund Rate at 5.25%-5.50%. Consensus was that the Fed Fund Rates will remain higher for longer. Market responses following the announcement were volatile, but closed as follows:<\/p>\n

S&P 500 Index and S&P 500 SPDRs (SPY) moved lower.<\/p>\n

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

 <\/p>\n

NASDAQ 100 Index and related NASDAQ 100 Trust (QQQ) moved lower<\/p>\n

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

U.S. Dollar Index Note: UUP moved higher<\/p>\n

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

Long term government bond prices were virtually unchanged.<\/p>\n

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

Gold and gold stocks moved lower<\/p>\n

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The Canadian Dollar moved lower<\/p>\n

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

 <\/p>\n

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

EAFE iShares<\/b> $EFA moved above $140.11 extending an intermediate uptrend. <\/p>\n

 <\/p>\n

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

Comcast <\/b>$CMCSA an S&P 100 stock moved above $46.83 extending an intermediate uptrend. <\/p>\n

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

S&P 500 and NASDAQ 100 stocks breaking intermediate support included Electronic Arts<\/b> $EA on a move below $135.05 completing a double top pattern, Simon Properties $SPG on a move below $138.76 completing a double top pattern, Zoom <\/b>$ZM on a move below $66.40 and Dupont<\/b> $DD on a move below $61.86.<\/p>\n

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

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

Restaurant Brands International<\/b> $QSR.TO a TSX 60 stock moved above Cdn$106.31 to an all-time high extending an intermediate uptrend. <\/p>\n

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

Canadian Pacific<\/b> $CP.TO a TSX 60 stock moved above Cdn$106.72 extending an intermediate uptrend. <\/p>\n

\"image\"<\/a><\/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.31st<\/sup> 2024<\/p>\n

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

Green: Increase from previous day<\/font><\/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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for Jan 31st<\/sup> 2024<\/p>\n

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

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

Daily Seasonal\/Technical Sector Trends for Jan.31st<\/sup> 2024<\/p>\n

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

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

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

 <\/p>\n

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

Market Wisdom from the Godfather of Technical Analysis: David Keller<\/b><\/p>\n

Market Wisdom from the Godfather of Technical Analysis \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Warning: Stock Market Crash Landing Ahead! Jeff Huge<\/b><\/p>\n

Warning: Stock Market Crash Landing Ahead! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer plunged 10.40 to 66.00. It remains Overbought. Daily downtrend was confirmed.<\/p>\n

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

The long term Barometer dropped 2.80 to 71.60. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer plunged 8.22 to 64.89. It remains Overbought.<\/p>\n

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

The long term Barometer dropped 1.33 to 60.89. 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 Thursday February 1st U.S. equity index futures were higher this morning. S&P 500 futures were up 18 points at 8:30 AM EST. C H Robinson dropped $5.09 to $79.00 after reporting lower than consensus fourth quarter earnings. QUAL COMM dropped $1.51 to $147.00 despite reporting higher than consensus fourth quarter revenues. MetLife […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-173454","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173454","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=173454"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173454\/revisions"}],"predecessor-version":[{"id":173464,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173454\/revisions\/173464"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=173454"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=173454"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=173454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}