Tech Talk for Friday January 26th 2024

U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points at 8:35 AM EST.

S&P 500 Index futures slipped 2 points following release of the December Core PCE Price Index at 8:30 AM EST. Consensus was an increase of 0.2% versus a gain of 0.1% in November. Actual was an increase of 0.2%. On a year-over-year basis, consensus was an increase of 3.0% versus a gain of 3.2% in November. Actual was an increase of 2.9%.

T-Mobil dropped $4.67 to $157.89 after reporting less than consensus fourth quarter earnings.

Intel dropped $2.55 to $47.00 after reporting lower than consensus fourth quarter earnings.

Levi Straus dropped $0.65 to $15.10 after reporting less than consensus quarterly earnings.

KLA Corp dropped $35.69 to $606.00 after reporting guidance below consensus.

Visa dropped $7.86 to $264.75 and Capital One dropped $2.10 to $130.45 despite reporting higher than consensus fourth quarter earnings.

Technical Notes

Crude Oil ETN $USO moved above $71.10 completing a double bottom pattern.

West Texas Crude Oil $WTIC moved above $76.18 to close at $77.36 completing a double bottom pattern.

Caterpillar $CAT a Dow Jones Industrial Average stock moved above $297.82 to an all-time play extending an intermediate uptrend. A China recovery play!

Comcast $CMCSA an S&P 100 stock moved above $44.70 extending an intermediate uptrend.

Alphabet $GOOG a NASDAQ 100 stock moved above $152.10 to an all-time high extending an intermediate uptrend. GOOGL also moved to an all-time high.

ASML $ASML a NASDAQ 100 stock moved above $873.55 to an all-time high extending an intermediate uptrend.

Tesla $TSLA moved below $191.25 extending an intermediate downtrend.

Manulife Financial $MFC.TO a TSX 60 stock moved above Cdn$29.44 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Jan.25th 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 Jan 25th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Jan.25th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Rapid Fire Review ALL NASDAQ 100 Charts: Tom Bowley

https://www.youtube.com/watch?v=S0b0ZXeYBfk

This is Why PRICE IS KING in Stock Trading! Joe Rabil

https://www.youtube.com/watch?v=hOdKXBomw3g

The Ultimate Guide to Timing Stock Exits and Entries!: David Landry

https://www.youtube.com/watch?v=lmQu8mlHgYs

Unlocking the Power of Technical Indicators: David Keller

Unlocking the Power of Technical Indicators - YouTube

More pain to come in Canadian banks: portfolio manager: BNN Bloomberg

More pain to come in Canadian banks: portfolio manager - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 5.80 to 78.40. It remains Overbought.

The long term Barometer added 2.40 to 72.20. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 4.44 to 71.56. It remains Overbought

The long term Barometer added 1.33 to 61.33. It remains Overbought.

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