{"id":174225,"date":"2024-02-28T02:22:00","date_gmt":"2024-02-28T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=174225"},"modified":"2024-02-28T08:55:19","modified_gmt":"2024-02-28T13:55:19","slug":"tech-talk-for-wednesday-february-28th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/02\/28\/tech-talk-for-wednesday-february-28th-2024\/","title":{"rendered":"Tech Talk for Wednesday February 28th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday February 28th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning.<\/b> S&P 500 futures were down 13 points at 8:35 AM EST<\/em><\/p>\n

S&P 500 futures recovered 4 points following release of revised annualized U.S. fourth quarter 2023 GDP at 8:30 AM EST<\/b>. Consensus was growth at 3.3% annual rate versus a gain of 4.9% in the third quarter. Actual was growth at a 3.2% rate.<\/em><\/p>\n

Agilent<\/b> added $7.45 to $140.00 after reporting higher than consensus fiscal first quarter revenues and earnings. <\/em><\/p>\n

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Applied Materials<\/b> dropped $3.61 to $199.25 after receiving a subpoena related to its China sales.<\/em><\/p>\n

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UnitedHealth Group<\/b> dropped $3.42 to $510.00 after receiving notice of an anti-trust investigation.<\/em><\/p>\n

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eBay <\/b>advanced $1.82 to $46.21 after reporting higher than consensus fourth quarter revenues and earnings. The company also announced positive first quarter guidance, a dividend increase and a $2 billion share repurchase program.<\/em><\/p>\n

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 <\/p>\n

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

NASDAQ Biotech iShares<\/b> $IBB moved above $139.49 extending an intermediate uptrend.<\/p>\n

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Lowe\u2019s <\/b>$LOW an S&P 100 stock moved above $234.64 extending an intermediate uptrend.<\/p>\n

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Qualcomm<\/b> $QCOM a NASDAQ 100 stock moved above $157.98 extending an intermediate uptrend. <\/p>\n

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Booking Holdings<\/b> $BKNG an S&P 100 stock moved below intermediate support at $3,476.50.<\/p>\n

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Bank of Nova Scotia <\/b>$BNS.TO a TSX 60 stock moved above Cdn$64.29 and Cdn$65.29 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.27th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/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.27th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/b><\/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.27th<\/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

Chart of the Day<\/strong><\/font><\/p>\n

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

CRB Index moved above 274.00 extending an intermediate uptrend<\/b>. Seasonal influences are positive to June 11th<\/sup><\/p>\n

Technical score is +2 +0 +1 +1 =4<\/p>\n

Uptrend extended on a move above 274.00. Score: 2<\/p>\n

Strength relative to the S&P 500 Index: Neutral Score: 0<\/p>\n

Trades above its 20 day moving average: Score: 1<\/p>\n

Daily momentum (Stochastics, RSI, MACD: trending higher: Score: 1<\/p>\n

 <\/p>\n

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 <\/p>\n

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

BITCOIN Rally Picks Up Steam, What’s Next? David Keller<\/b><\/p>\n

BITCOIN Rally Picks Up Steam, What’s Next? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Expect a challenging quarter for Canadian Banks: analyst: BNNBloomberg<\/b><\/p>\n

Expect a challenging quarter for Canadian Banks: analyst \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Investors can expect S&P 500 to hit 5,400-5,800 by year-end: Sanctuary Wealth’s Mary Ann Bartels<\/b><\/p>\n

Investors can expect S&P 500 to hit 5,400-5,800 by year-end: Sanctuary Wealth’s Mary Ann Bartels \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Thinking About Trading Earnings? Here’s My Strategy: Tom Bowley<\/b><\/p>\n

Thinking About Trading Earnings? Here’s My Strategy \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

\"clip_image013\"<\/a><\/p>\n

The intermediate term Barometer added 1.80 to 64.40. It remains Overbought.<\/p>\n

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The long term Barometer added 1.20 to 74.60. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 1.78 to 55.56. It remains Neutral.<\/p>\n

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The long term Barometer added 1.78 to 59.11. It remains Neutral.<\/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 28th U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points at 8:35 AM EST S&P 500 futures recovered 4 points following release of revised annualized U.S. fourth quarter 2023 GDP at 8:30 AM EST. Consensus was growth at 3.3% annual rate versus a gain […]<\/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-174225","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174225","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=174225"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174225\/revisions"}],"predecessor-version":[{"id":174235,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174225\/revisions\/174235"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=174225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=174225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=174225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}