Tech Talk for Thursday February 13th 2020

U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points in pre-opening trade. Index futures responded to news of a spike in reported coronavirus cases in China. The Shanghai Composite Index dropped 20.83 to 2905.07 in overnight trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was an increase to 212,000 from 203,000 last week. Actual was 205,000. Consensus for the January Consumer Price Index was an increase of 0.2% versus a gain of 0.2% in December. Actual was an increase of 0.1%. Excluding food and energy, consensus for the January Consumer Price Index was an increase of 0.2% versus a gain of 0.1% in December. Actual was an increase of 0.2%

Cisco Systems slipped $2.13 to $47.80 after lowering guidance for its fiscal third quarter.

Trip Advisors gained $1.62 to $30.45 after reporting higher than consensus fourth quarter earnings.

NetApp dropped $6.97 to $60.82 after reporting lower than consensus fiscal third quarter revenues and earnings.

Applied Materials added $0.33 to $65.70 after reporting higher than consensus fourth quarter earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/02/12/stock-market-outlook-for-february-13-2020/

Note seasonality chart on U.S. Vehicle Sales

Observation

The Euro moved below 108.85 to a 20 month low extending an intermediate downtrend in response to continuing strength in the U.S. Dollar

StockTwits released yesterday @EquityClock

Lowes $LOW, an S&P 100 stock moved above $123.14 to an all-time high extending an intermediate uptrend.

Industrial SPDRs $XLI moved above $84.81 to an all-time high extending an intermediate uptrend.

U.S. Healthcare Providers $IHF moved above $207.57 to an all-time high extending an intermediate uptrend.

S&P 500 Equal Weight ETF $RSP moved above $118.47 to an all-time high extending an intermediate uptrend.

Micron $MU, a NASDAQ 100 stock moved above $60.56 extending an intermediate uptrend

Canadian forest product stocks are surging this morning. Nice breakouts by $WFT.CA and $CFP.CA completing base building patterns. ‘Tis the season for Canadian forest product stocks to move higher to April!

Chinese based JD.com $JD moved above $42.00 extending an intermediate uptrend.

UnitedHealth Group $UNH, a Dow Jones Industrial stock moved above $302.54 to an all-time high extending an intermediate uptrend.

Apple $AAPL, a Dow Jones Industrial stock moved above $327.07 to an all-time high extending an intermediate uptrend.

Greg Schnell's "Market Buzz"

Released yesterday. Greg asks, "Cannabis stocks - Any signs of hope?" Following is a link:

https://www.youtube.com/watch?v=ieKarMKeqMg&feature=youtu.be

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for February 12th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for February 12th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 12th 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 3.01 to 69.94 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer was unchanged yesterday at 63.43. It remains intermediate overbought.

Disclaimer: Seasonality 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

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