{"id":174011,"date":"2024-02-21T02:22:00","date_gmt":"2024-02-21T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=174011"},"modified":"2024-02-21T08:52:02","modified_gmt":"2024-02-21T13:52:02","slug":"tech-talk-for-wednesday-february-21st-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/02\/21\/tech-talk-for-wednesday-february-21st-2024\/","title":{"rendered":"Tech Talk for Wednesday February 21st 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday February 21st<\/sup><\/strong><\/font><\/em><\/p>\n

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

Economic focus today is on FOMC Meeting Minutes released at 2:00 PM EST<\/b>.<\/em><\/p>\n

Changes in Dow Jones Averages effective February 26th<\/sup><\/b>: Walgreen Boots is replaced by Amazon.com in the Industrial Average. JetBlue is replaced by Uber in the Transportation Average.<\/em><\/p>\n

Palo Alto<\/b> dropped $47.29 to $319.00 after offering an outlook below consensus.<\/em><\/p>\n

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

Chesapeake Energy<\/b> added $2.35 to $80.00 after reporting higher than consensus quarterly earnings. <\/em><\/p>\n

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

Teledoc <\/b>plunged $1.84 to $18.65 after reporting a fourth quarter loss. The company also reported less than consensus quarterly revenues.<\/em><\/p>\n

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

Solar Edge Technologies<\/b> plunged $14.42 to $69.80 after reporting less than consensus quarterly revenues. <\/em><\/p>\n

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 <\/p>\n

Interesting article on seasonality of U.S. equity markets into March<\/font><\/em><\/b><\/p>\n

https:\/\/www.marketwatch.com\/story\/u-s-stocks-could-fall-in-march-thanks-to-waning-momentum-seasonal-weakness-analyst-b921a085?mod=mw_pushly&send_date=20240220<\/em><\/a><\/p>\n

 <\/p>\n

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

NASDAQ 100 Index<\/b> $NDX and its related ETF: QQQ<\/b> broke below their 20 day moving average.<\/p>\n

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Advanced Micro Devices<\/b> $AMD a NASDAQ 100 stock moved below $162.56 completing a double top pattern<\/p>\n

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Dollar Tree<\/b> $DLTR a NASDAQ 100 stock moved above $145.09 extending an intermediate uptrend. <\/p>\n

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Abbott Labs<\/b> $ABT an S&P 100 stock moved above $115.64 extending an intermediate uptrend.<\/p>\n

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

Positive technical action was recorded by several S&P\/TSE 60 stocks<\/b>:<\/p>\n

Metro<\/b> $MRU.TO a TSX 60 stock moved above Cdn$71.28 extending an intermediate uptrend. <\/p>\n

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

George Weston<\/b> $WN.TO a TSX 60 stock moved above Cdn$174.21 extending an intermediate uptrend. <\/p>\n

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

National Bank $<\/b>NA.TO a TSX 60 stock moved above Cdn$104.16 to an all-time high extending an intermediate uptrend.<\/p>\n

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TC Energy <\/b>$TRP.TO a TSX 60 stock moved above Cdn$53.80 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.20th<\/sup> 2024<\/p>\n

\"clip_image010\"<\/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.20th<\/sup> 2024<\/p>\n

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

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

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

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

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

Daily Seasonal\/Technical Sector Trends for Feb.20th<\/sup> 2024<\/p>\n

\"clip_image014\"<\/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

Three ways a \u201cMagnificent Seven\u201d stock market bubble could burst<\/b><\/p>\n

https:\/\/www.marketwatch.com\/story\/3-ways-a-magnificent-seven-stock-market-bubble-could-burst-df8716d2?mod=mw_pushly&send_date=20240220<\/a><\/p>\n

 <\/p>\n

Stock Market Sentiment is FEARFUL: Tom Bowley<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=gzlICG4VmLE<\/a><\/p>\n

 <\/p>\n

Dominant Trend for Stocks Still UP: <\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=i4rd2PpZb04<\/a><\/p>\n

 <\/p>\n

A "Chipwreck" Looming + Alphabet Stock Trade Idea: Dan Nathan and Guy Adami<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=ukLK-YBAO-A&t=1068s<\/a><\/p>\n

 <\/p>\n

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

Warning Signs of Potential Market Reversal: John Kosar<\/b><\/p>\n

(Includes a seasonality comment with a warning for the next three weeks)<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=IOfZg_N4Dv8<\/a><\/p>\n

 <\/p>\n

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

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

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

The intermediate term Barometer dropped 0.20 to 61.00. It remains Overbought.<\/p>\n

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

The long term Barometer added 0.20 to 71.20. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 4.00 to 57.78. It changed from Overbought to Neutral on a drop below 60.00.<\/p>\n

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

The long term Barometer dropped 2.22 to 58.22. It changed from Overbought to Neutral on a drop below 60.00.<\/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 February 21st U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points at 8:30 AM EST Economic focus today is on FOMC Meeting Minutes released at 2:00 PM EST. Changes in Dow Jones Averages effective February 26th: Walgreen Boots is replaced by Amazon.com in the Industrial […]<\/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-174011","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174011","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=174011"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174011\/revisions"}],"predecessor-version":[{"id":174021,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174011\/revisions\/174021"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=174011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=174011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=174011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}