{"id":173613,"date":"2024-02-07T02:22:00","date_gmt":"2024-02-07T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=173613"},"modified":"2024-02-07T08:49:58","modified_gmt":"2024-02-07T13:49:58","slug":"tech-talk-for-wednesday-february-7th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/02\/07\/tech-talk-for-wednesday-february-7th-2024\/","title":{"rendered":"Tech Talk for Wednesday February 7th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday February 7th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 14 points at 8:35 AM EST<\/em><\/p>\n

Index futures were unchanged following release of the December U.S. Trade Report at 8:30 AM EST.<\/b> Consensus was a deficit of $62.20 billion versus a downwardly revised deficit of $61.9 in November. Actual was a deficit of $62.20 billion<\/em><\/p>\n

Ford<\/b> gained $0.93 to $13.00 after reporting higher than consensus fourth quarter revenues and earnings. <\/em><\/p>\n

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Snap <\/b>dropped $3.45 to $14.00 after reporting less than consensus fourth quarter revenues. <\/em><\/p>\n

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Chipotle <\/b>gained $37.26 to $2,525.000 after reporting higher than consensus fourth quarter revenues. <\/em><\/p>\n

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VF Corp<\/b> dropped $0.75 to $16.20 after reporting less than consensus fourth quarter revenues and earnings. <\/em><\/p>\n

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 <\/p>\n

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

Transportation iShares<\/b> $IYT moved above $265.89 extending an intermediate uptrend.<\/p>\n

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Canadian National Railway<\/b> $CNR.TO a TSX 60 stock moved above Cdn$171.88 extending an intermediate uptrend.<\/p>\n

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China Large Cap ETF<\/b> $FXI moved above $23.09 completing a double bottom pattern.<\/p>\n

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Trip.com<\/b> $TCOM a NASDAQ 100 stock moved above $39.11 extending an intermediate uptrend. <\/p>\n

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DocuSign<\/b> $DOCU a NASDAQ 100 stock moved below $54.24 completing a double top pattern. <\/p>\n

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Concerns about regional U.S. banks continue to escalate: $NYCB<\/b><\/p>\n

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

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

Bank of Montreal <\/b>$BMO.TO a TSX 60 stock moved below Cdn$124.04 completing a double top pattern.<\/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.6th<\/sup> 2024<\/p>\n

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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

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

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

Daily Seasonal\/Technical Commodities Trends for Feb.6th<\/sup> 2024<\/p>\n

\"clip_image011\"<\/a><\/b><\/p>\n

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.6th<\/sup> 2024<\/p>\n

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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 Breadth Divergence Says NO BULL! David Keller<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=FKnYbc-P2iQ<\/a><\/p>\n

 <\/p>\n

Top Stocks Poised For Selloff? | On The Tape Investing Podcast: Guy Adami<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=d5dB9hoz6ws<\/a><\/p>\n

 <\/p>\n

Markets Spooked Despite Strength In Economy: Tom Bowley<\/b><\/p>\n

Markets Spooked Despite Strength in Economy \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

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

The Barometer added 4.40 to 63.60. It returned to Overbought on a recovery above 60.00.<\/p>\n

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The long term Barometer added 2.20 to 71.40. It remains Overbought. <\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 3.56 to 56.44. It remains Neutral.<\/p>\n

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The long term Barometer added 2.67 to 59.56. It remains Neutral.<\/p>\n

<\/b><\/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 February 7th U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points at 8:35 AM EST Index futures were unchanged following release of the December U.S. Trade Report at 8:30 AM EST. Consensus was a deficit of $62.20 billion versus a downwardly revised deficit of $61.9 […]<\/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-173613","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173613","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=173613"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173613\/revisions"}],"predecessor-version":[{"id":173623,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173613\/revisions\/173623"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=173613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=173613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=173613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}