{"id":173574,"date":"2024-02-06T02:22:00","date_gmt":"2024-02-06T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=173574"},"modified":"2024-02-06T08:50:36","modified_gmt":"2024-02-06T13:50:36","slug":"tech-talk-for-tuesday-february-6th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/02\/06\/tech-talk-for-tuesday-february-6th-2024\/","title":{"rendered":"Tech Talk for Tuesday February 6th 2024"},"content":{"rendered":"

Pre-opening Comments for Tuesday February 6th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 4 points at 8:30 AM EST. <\/em><\/p>\n

Palantir<\/b> added $2.66 to $19.38 after reporting higher than consensus fourth quarter revenues. <\/em><\/p>\n

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

Spotify<\/b> gained $14.24 to $237.43 after the company reported a narrower than consensus fourth quarter loss.<\/em><\/p>\n

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

Eli Lilly<\/b> advanced $30.00 to $736.00 after reporting higher than consensus fourth quarter earnings. <\/em><\/p>\n

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

Symbotic<\/b> dropped $9.23 to $40.37 after reporting a fiscal first quarter loss.<\/em><\/p>\n

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 <\/p>\n

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

NASDAQ Biotech ETF<\/b> $IBB moved below $133.43 completing a double top pattern.<\/p>\n

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Biotech ETF<\/b> $BBH moved below $164.14 completing a double top pattern.<\/p>\n

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Bristol-Myers<\/b> Squibb<\/b> $BMY an S&P 100 stock moved below $47.70 extending an intermediate downtrend.<\/p>\n

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Solar ETF<\/b> $TAN moved below $40.51 extending an intermediate downtrend.<\/p>\n

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

McDonald\u2019s <\/b>$MCD a Dow Jones Industrial Average stock moved below $287.20 and $285.72 setting an intermediate downtrend.<\/p>\n

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

BHP<\/b> $BHP one of the world\u2019s largest base metals producers moved below $59.58 completing a Head & Shoulders pattern. <\/p>\n

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

Canadian Pacific<\/b> $CP.TO a TSX 60 stock moved above Cdn$112.54 to an all-time high extending an intermediate uptrend. <\/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.5th<\/sup> 2024<\/p>\n

\"clip_image009\"<\/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 Feb.5th<\/sup> 2024<\/p>\n

\"clip_image011\"<\/a><\/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 Feb.5th<\/sup> 2024<\/p>\n

\"clip_image013\"<\/a><\/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 a valued provider<\/strong><\/font><\/p>\n

The stock market often suffers in February. It\u2019s worse in election years.<\/b><\/p>\n

https:\/\/www.marketwatch.com\/story\/the-dow-jones-tends-to-fall-in-february-in-election-years-its-even-worse-ea83741d<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer continued to collapse. It dropped another 7.20 to 59.20. The Index changed from Overbought to Neutral on a drop below 60.00. Daily trend is down. <\/p>\n

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

The long term Barometer dropped 3.00 to 69.20. It remains Overbought. Daily downtrend resumed.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer plunged 9.78 to 52.89. It changed from Overbought to Neutral on a drop below 60.00. Daily downtrend resumed.<\/p>\n

\"clip_image017\"<\/a><\/p>\n

The long term Barometer dropped 6.22 to 56.89. It changed from Overbought to Neutral on drop below 60.00. Daily trend has turned down. <\/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 6th U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points at 8:30 AM EST. Palantir added $2.66 to $19.38 after reporting higher than consensus fourth quarter revenues. Spotify gained $14.24 to $237.43 after the company reported a narrower than consensus fourth quarter loss. Eli […]<\/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-173574","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173574","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=173574"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173574\/revisions"}],"predecessor-version":[{"id":173584,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173574\/revisions\/173584"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=173574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=173574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=173574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}