Tech Talk for Friday February 23rd 2024

U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points at 8:30 AM EST.

Intuit dropped $8.92 to $649.00 after offering guidance below consensus.

Booking Holdings dropped $163.36 to $3738.63 after reporting less than consensus fourth quarter earnings.

Block gained $7.36 to $75.32 after reporting a surprise fourth quarter profit.

Carvana advanced $11.60 to $63.60 after offering positive first quarter guidance.

Technical Notes

Eurozone iShares $EZU moved above $48.20 to an all-time high extending an intermediate uptrend.

Germany iShares $EWG moved above $29.90 extending an intermediate uptrend.

Materials SPDRs $XLB moved above $86.30 extending an intermediate uptrend.

Consumer Discretionary SPDRs $XLY moved above $182.19 extending an intermediate uptrend.

BMO China ETF $ZCH.TO moved above Cdn$12.29 completing a double bottom pattern.

Financial SPDRs $XLF moved above $40.08 to an all-time high extending an intermediate uptrend.

Bank of Nova Scotia $BNS.TO a TSX 60 stock moved above $64.26 extending an intermediate uptrend.

Nutrien $NTR.TO a TSX 60 stock moved above intermediate resistance at Cdn$70.25.

CCL Industries $CCL.B.TO a TSX 60 stock moved above Cdn$61.87 extending an intermediate uptrend.

Suncor $SU.TO a TSX 60 stock moved above Cdn$45.79 resuming an intermediate uptrend. The company reported higher than consensus fourth quarter results.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Feb.22nd 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for Feb.22nd 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Feb.22nd 2024

Green: Increase from previous day

Red: Decrease from previous day

CastleMoore on BNN's Market Call Yesterday

Hap Sneddon, founder and chief portfolio manager at CastleMoore Inc., discusses his top picks: Invesco DB Agriculture ETF, Paramount Resources, and iShares China Index.

https://www.bnnbloomberg.ca/market-call

Links offered by valued providers

NVDA Explodes Higher Lifting US Futures: Tom Bowley

NVDA Explodes Higher Lifting US Futures - YouTube

3 Unique RSI Techniques to Maximize Your Investments: Joe Rabil

3 Unique RSI Techniques to Maximize Your Investments - YouTube

Former Dallas Fed Pres. Richard Fisher: Something has to be done about ‘our enormous fiscal wreck’: Richard Fisher

Former Dallas Fed Pres. Richard Fisher: Something has to be done about ‘our enormous fiscal wreck’ - YouTube

Nvidia Beats, Stock Soars – Dan Niles and Carter Worth React: Guy Adami and Dan Nathan

Nvidia Beats, Stock Soars – Dan Niles and Carter Worth React - YouTube

Technical Score on Chart of the Day

Technical score on NASDAQ Composite Index improved from -2 to +4:

Trend: Remained Up Score: +2 to +2

Strength relative to S&P 500: Negative to Neutral Score: -2 to 0

20 day moving average: Below to Above: Score: -1 to +1

Daily Momentum (Stochastics, RSI, MACD): Down to Up Score: -1 to +1

Totals: Score: -2 to +4

S&P 500 Momentum Barometers

The intermediate term Barometer added 1.00 to 65.40. It remains Overbought.

The long term Barometer added 1.60 to 76.00. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped 2.67 to 57.78. It changed from Overbought to Neutral on a drop below 60.00.

The long term Barometer added 3.11 to 59.11. It remains Neutral.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com 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