{"id":174262,"date":"2024-02-29T02:22:00","date_gmt":"2024-02-29T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=174262"},"modified":"2024-02-29T10:21:13","modified_gmt":"2024-02-29T15:21:13","slug":"tech-talk-for-thursday-february-29th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/02\/29\/tech-talk-for-thursday-february-29th-2024\/","title":{"rendered":"Tech Talk for Thursday February 29th 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday February 29th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures added 5 points at 8:35 AM EST.<\/em><\/p>\n

U.S. equity index futures recovered 22 points following release of January Core PCE Price Index at 8:30 AM EST.<\/b> Consensus was an increase of 0.4% versus a gain of 0.2% in December. Actual was an increase of 0.4%. On a year-over-year basis consensus was an increase of 2.8% versus a gain of 2.9% in December. Actual was an increase of 2.8%.<\/em><\/p>\n

Salesforce.com<\/b> dropped $12.98 to $289.00 after offering guidance below consensus.<\/em><\/p>\n

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

Snowflake <\/b>dropped $55.00 to $174.97 after the company offered guidance less than consensus. In addition, the company\u2019s chief executive officer announced his retirement. <\/em><\/p>\n

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Okta<\/b> advanced $15.70 to $103.00 following release of higher than consensus fourth quarter revenues and earnings. The company also offered positive first quarter guidance.<\/em><\/p>\n

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Toronto Dominion Bank<\/b> is expected to open higher after reporting higher than consensus fiscal first quarter earnings. <\/em><\/p>\n

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 <\/p>\n

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

The Canadian Dollar<\/b> moved below US73.60 cents to a 12 week low. <\/p>\n

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South Africa iShares<\/b> $EZA moved below $36.99 setting an intermediate downtrend.<\/p>\n

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U.S. Oil ETN<\/b> $USO moved above $74.21 extending an intermediate uptrend.<\/p>\n

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First Trust Natural Gas ETF<\/b> $FCG moved above $25.06 extending an intermediate uptrend. <\/p>\n

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Aerospace & Defense iShares $ITA<\/b> moved above $127.06 to an all-time high extending an intermediate uptrend. <\/p>\n

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Alphabet<\/b> a NASDAQ 100 stock broke intermediate support completing double top patterns. GOOG broke $138.17 and GOOGL broke $136.50.<\/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.28th<\/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.28th<\/sup> 2024<\/p>\n

\"clip_image010\"<\/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.28th<\/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

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

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

New Dow Theory CONFIRMS BULL Phase! David Keller<\/b><\/p>\n

New Dow Theory CONFIRMS BULL Phase! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Warning Signs: S&P 500 Plummet Ahead: Jeff Huge<\/b><\/p>\n

Warning Signs: S&P 500 Plummet Ahead \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Markets not focused enough on China’s economic problems, says Ariel’s Charlie Bobrinskoy<\/b><\/p>\n

Markets not focused enough on China’s economic problems, says Ariel’s Charlie Bobrinskoy \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Recent wave of biotech deals won’t stop anytime soon, says Wedbush’s Chico<\/b><\/p>\n

Recent wave of biotech deals won’t stop anytime soon, says Wedbush’s Chico \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 1.20 to 65.60. It remains Overbought.<\/p>\n

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The long term Barometer slipped 0.80 to 73.80. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 2.67 to 52.89. It remains Neutral.<\/p>\n

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The long term Barometer dropped 2.22 to 56.89. 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 Thursday February 29th U.S. equity index futures were higher this morning. S&P 500 futures added 5 points at 8:35 AM EST. U.S. equity index futures recovered 22 points following release of January Core PCE Price Index at 8:30 AM EST. Consensus was an increase of 0.4% versus a gain of 0.2% in […]<\/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-174262","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174262","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=174262"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174262\/revisions"}],"predecessor-version":[{"id":174272,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174262\/revisions\/174272"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=174262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=174262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=174262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}