Tech Talk for Thursday February 20th 2020

U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening comments.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the February Philly Fed Index was a drop to 12.0 from 17.0 in January. Actual was an increase to 39.7. Consensus for Weekly Jobless Claims was an increase to 210,000 from revised 206,000 last week. Actual was 210,000.

IMAX gained $0.64 to $17.74 after reporting higher than consensus fourth quarter revenues and earnings.

E-trade jumped $9.07 to $54.00 prior to a trading halt. Morgan Stanley has offered to acquire the company in an all-stock $13 billion deal.

Loblaw Companies (L $71.09) is expected to open lower after reporting less than consensus fourth quarter earnings.

Newmont Mining (NEM $46.17) is expected to open higher after reporting higher than consensus fourth quarter revenues and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/02/19/stock-market-outlook-for-february-20-2020/

Note seasonality charts on the U.S. Dollar Index, 7-10 year Treasury Bond iShares, Canadian Corporate Bond iShares and U.S. Housing Starts.

StockTwits released yesterday @EquityClock

Analog Devices $ADI, a NASDAQ 100 stock moved above $123.58 to an all-time high extending an intermediate uptrend. The company increased its dividend by 15%.

Junior Gold ETF $GDXJ moved above $43.23 extending an intermediate uptrend.

Bausch Health $BHC.CA, a TSX 60 stock moved below $36.70 on disappointing fourth quarter results setting an intermediate downtrend.

AMEX Biotech ETF $FBT moved above $154.57 extending an intermediate uptrend.

Silver and silver stocks continue to soar. Nice breakout by Pan American Silver! $PAAS

Editor's Note: Strength in silver stocks was prompted by a breakout by the Silver ETN: (SLV) above $17.21

TSX Gold iShares $XGD.CA moved above $16.97 extending an intermediate uptrend.

Kinross Gold $K.CA, a TSX 60 stock moved above $7.24 extending an intermediate uptrend.

IDEXX Labs $IDXX, a NASDAQ 100 Index moved above $294.57 to an all-time high extending an intermediate uptrend.

Intuitive Surgical $ISRG, a NASDAQ 100 stock moved above $616.56 to an all-time high extending an intermediate uptrend.

Gildan Activewear $GIL.CA, a TSX 60 stock moved below $36.48 setting an intermediate downtrend

Mid-cap 400 SPDRs $MDY moved above $383.41 to an all-time high extending an intermediate uptrend

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for February 19th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for February 19th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 19th 2020

Green: Increase from previous day

Red: Decrease from previous day

Greg Schnell's "Market Buzz"

Greg focuses on 5G, Oil Services and Agriculture stocks. Following is a link:

https://www.youtube.com/watch?v=H8G-o5914xo&feature=youtu.be

S&P 500 Momentum Barometer

The Barometer added 2.00 to 63.93 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 0.30 to 64.35 yesterday. 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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