{"id":173926,"date":"2024-02-16T02:22:00","date_gmt":"2024-02-16T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=173926"},"modified":"2024-02-16T08:55:24","modified_gmt":"2024-02-16T13:55:24","slug":"tech-talk-for-friday-february-16th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/02\/16\/tech-talk-for-friday-february-16th-2024\/","title":{"rendered":"Tech Talk for Friday February 16th 2024"},"content":{"rendered":"

Pre-opening Comments for Friday February 16th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures dropped 9 points at 8:35 AM EST<\/em><\/p>\n

S&P 500 Index futures dropped 15 points following release of the January U.S. Producer Price Index<\/b> at 8:30 AM EST<\/b>. Consensus was an increase of 0.1% versus a decline of 0.1% in December. Actual was an increase of 0.3%. On a year-over-year basis January PPI was expected to increase 0.6% versus a gain of 1.0% in December. Actual was an increase of 0.9%. Excluding food and energy, consensus was an increase of 0.1% versus unchanged in December. Actual was an increase of 0.6%. On a year-over-year basis core PPI was expected to increase 1.6% versus a gain of 1.8% in December. Actual was an increase of 2.0%<\/em><\/p>\n

Applied Materials<\/b> advanced $14.34 to $202.00 after reporting higher than consensus fiscal first quarter revenues and earnings. <\/em><\/p>\n

\"clip_image001[5]\"<\/a><\/p>\n

Roku<\/b> dropped $14.29 to $81.00 after reporting a fourth quarter loss.<\/em> <\/p>\n

\"clip_image002[5]\"<\/a><\/p>\n

Trading Desk<\/b> advanced $14.29 to $90.00 after reporting higher than consensus fourth quarter revenues.<\/em><\/p>\n

\"clip_image003[5]\"<\/a><\/p>\n

Door Dash<\/b> dropped $12.45 to $113.82 after reporting a fourth quarter loss.<\/em><\/p>\n

\"clip_image004[5]\"<\/a><\/p>\n

 <\/p>\n

Next Tech Talk report<\/strong><\/font><\/p>\n

Next report is released on Tuesday February 19th<\/sup>. Equity markets in the U.S. and Canada are closed for a holiday on Monday.<\/p>\n

Technical Notes<\/p>\n

Eurozone iShares<\/b> $EZU moved above $47.82 extending an intermediate uptrend. <\/p>\n

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

Wells Fargo<\/b> $WFC an S&P 100 stock moved above $51.08 extending an intermediate uptrend. <\/p>\n

Federal regulator consent order was closed.<\/p>\n

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

Electronic Arts<\/b> $EA a NASDAQ 100 stock moved above $143.47 extending an intermediate uptrend. <\/p>\n

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

Wheat ETN<\/b> $WEAT moved below $5.38 extending an intermediate downtrend. One of the reasons why Deere $DE dropped over 5% yesterday.<\/p>\n

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

S&P Oil and Gas Exploration SPDRs<\/b> $XOP moved above $136.75 completing a double bottom pattern.<\/p>\n

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

First Trust Natural Gas ETF<\/b> $FCG moved above $24.01 completing a double bottom pattern.<\/p>\n

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

Cenovus <\/b>$CVE.TO a TSX 60 stock moved above intermediate resistance at Cdn$22.89<\/p>\n

\"clip_image007\"<\/a><\/p>\n

Imperial Oil<\/b> $IMO.TO a TSX 60 stock moved above $80.89 setting an intermediate uptrend. <\/p>\n

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

Cdn. Financials iShares<\/b> $XFN.TO moved above $48.33 extending an intermediate uptrend.<\/p>\n

\"clip_image009\"<\/a><\/p>\n

Canadian Tire<\/b> $CTC.A.TO a TSX 60 stock moved below Cdn$129.90 extending an intermediate downtrend. The company reported fourth quarter results below consensus.<\/p>\n

\"clip_image010\"<\/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 Feb.15th<\/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

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.15th<\/sup> 2024<\/p>\n

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

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for Feb.15th<\/sup> 2024<\/p>\n

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

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

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

 <\/p>\n

Links from valued providers<\/strong><\/font><\/p>\n

Market Pullback? Follow These Charts! Dave Keller<\/b><\/p>\n

Market Pullback? Follow These Charts! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Surviving the Stock Market Plunge Jeff Huge<\/b><\/p>\n

Surviving the Stock Market Plunge \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

BEWARE! S&P 500 Tailwinds Are Becoming Headwinds: Tom Bowley<\/b><\/p>\n

Tech Talk Editor\u2019s Comment: Note seasonality comment. <\/b><\/p>\n

BEWARE! S&P 500 Tailwinds Are Becoming Headwinds \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Investors need to be aware of the optimism priced into markets today, says Wilshire’s Joshua Emanuel<\/b><\/p>\n

Investors need to be aware of the optimism priced into markets today, says Wilshire’s Joshua Emanuel \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Mohamed El-Erian on inflation: ‘be careful of a Fed that is too data dependent’<\/b><\/p>\n

Mohamed El-Erian on inflation: ‘be careful of a Fed that is too data dependent’ \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer advanced 7.40 to 64.20. It changed from Neutral to Overbought on a return above 60.00.<\/p>\n

\"clip_image018\"<\/a><\/p>\n

The long term Barometer added 2.40 to 73.00. It remains Overbought. <\/p>\n

 <\/p>\n

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

\"clip_image019\"<\/a><\/p>\n

The intermediate term Barometer jumped 9.33 to 59.56. It remains Neutral.<\/p>\n

\"clip_image020\"<\/a><\/p>\n

The long term Barometer advanced 4.44 to 59.11. 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 Friday February 16th U.S. equity index futures were lower this morning. S&P 500 futures dropped 9 points at 8:35 AM EST S&P 500 Index futures dropped 15 points following release of the January U.S. Producer Price Index at 8:30 AM EST. Consensus was an increase of 0.1% versus a decline of 0.1% […]<\/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-173926","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173926","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=173926"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173926\/revisions"}],"predecessor-version":[{"id":173936,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/173926\/revisions\/173936"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=173926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=173926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=173926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}