Tech Talk for Wednesday February 12th 2020
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening comments.
Bed Bath and Beyond dropped $3.91 to $10.94 after reporting lower than consensus fourth quarter revenues and earnings. The company also lowered guidance.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/02/clip_image0015.png "clip_image001[5]")
Visa added $1.86 to $205.80 after Oppenheimer raised its target price from $210 to $220.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/02/clip_image0025.png "clip_image002[5]")
MolsonCoors gained $3.25 to $61.30 after reporting higher than consensus fourth quarter revenue and earnings.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/02/clip_image0035.png "clip_image003[5]")
Shopify (SHOP $492.76) is expected to open higher after reporting higher than consensus fourth quarter revenues and earnings.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/02/clip_image0045.png "clip_image004[5]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/02/11/stock-market-outlook-for-february-12-2020/
Note seasonality charts on Emerging Markets iShares, U.S. Job Openings and Crude Oil futures.
StockTwits released yesterday @EquityClock
Philip Morris $PM, an S&P 100 stock moved above $89.13 extending an intermediate uptrend.
MetLife $MET, an S&P 100 stock moved above $52.29 to an all-time high extending an intermediate uptrend.
Seattle Genetics $SGEN, a NASDAQ 100 stock moved above $122.36 to an all-time high extending an intermediate uptrend.
Check Point $CHKP, a NASDAQ 100 stock moved above $118.67 extending an intermediate uptrend.
U.S. Telecommunications iShares $IYZ moved above $30.75 in response to the Sprint/T-Mobil merger judicial decision extending an intermediate uptrend.
Exelon $EXC, an S&P 100 stock moved above $49.31 extending an intermediate uptrend.
Cisco Systems $CSCO, a Dow Jones Industrial stock moved above $49.54 completing a base building pattern
Biotech ETF $BBH moved above $143.02 to an all-time high extending an intermediate uptrend.
Observations
Lumber futures price broke above $444.90 to an 18 month high completing a base building pattern.
Forest product ETFs and stocks on both sides of the border responded to higher lumber prices.
'Tis the season for forest product stocks to move higher!
Forest Products Industry Seasonal Chart
S5FRST Index Relative to the S&P 500 |
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for February 11th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for February 11th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for February 11th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/02/clip_image0011-3.png "clip_image001[1]")
The Barometer added 2.81 to 66.93 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/02/clip_image0021-5.png "clip_image002[1]")
The Barometer added 3.70 to 63.43 yesterday. It changed from intermediate neutral to intermediate overbought on a recovery above 60.00.
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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