Tech Talk for Wednesday February 19th 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the January Producer Price Index was an increase of 0.1% versus a gain of 0.2% in December. Actual was up 0.5%. Excluding food and energy, consensus for the January Producer Price Index was an increase of 0.2% versus a gain of 0.1% in December. Actual was an increase of 0.5%. Consensus for January Housing Starts was a drop to 1.430 million units from 1.608 million units in December. Actual was 1,567 million units.

The Canadian Dollar was virtually unchanged at U.S.75.62 cents following release of Canada's January Consumer Price Index at 8:30 AM EST. Consensus was a year-over-year increase of 2.3%% versus 2.2% in December. Actual was an increase of 2.4%

Nutrien (NTR $54.59 Cdn) is expected to open lower after reporting lower than consensus fourth quarter earnings.

Analog Devices (ADI $118.57) is expected to open higher after increasing its quarterly dividend by 15%.

Garmin gained $7.88 to $105.00 after reporting higher than consensus fourth quarter earnings. The company also raised guidance and increased its dividend.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/02/18/stock-market-outlook-for-february-19-2020/

Observations

Long term 20 Year+ Treasury Bond ETF (TLT) closed at an all-time closing high yesterday.

Despite strength in long term Treasury Bond and commodity prices, the U.S. Dollar Index closed at a three year closing high at 99.45

StockTwits released yesterday @EquityClock

Paychex $PAYX, a NASDAQ 100 stock moved above $89.33 to an all-time high extending an intermediate uptrend.

Palladium ETN $PALL moved above $237.99 to an all-time high extending an intermediate uptrend

Goldman Sachs $GS, a Dow Jones Industrial stock moved below $235.01 completing a double top pattern

BCE Inc. $BCE.CA, a TSX 60 stock moved above $64.44 to an all-time high extending an intermediate uptrend.

Dollarama $DOL, a TSX 60 stock moved below $43.21 extending an intermediate downtrend

Wheaton Precious Metals $WPM $WPM.CA, a TSX 60 stock moved above $30.80 U.S. and $40.82 Cdn. to all-time highs extending an intermediate uptrend

Barrick Gold $ABX.CA $GOLD, a TSX 60 stock moved above $26.59 Cdn and $19.97 U.S. to a 3.5 year high extending an intermediate uptrend

Ross Stores $ROST, a NASDAQ 100 stock moved above $122.62 to an all-time high extending an intermediate uptrend.

Trader's Corner

Editor's Note: Lots of positive technical action by commodities and commodity sensitive equities yesterday despite strength in the U.S. Dollar Index.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for February 18th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for February 18th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 18th 2020

Green: Increase from previous day

Red: Decrease from previous day

Keith Richard's Blog

Keith asks "Is ESG Investing Profitable"? Following is a link:

https://www.valuetrend.ca/is-esg-investing-profitable/

S&P 500 Momentum Barometer

The Barometer dropped 5.21 yesterday to 61.92. It remains intermediate overbought and showing early signs of rolling over.

TSX Momentum Barometer

The Barometer added 0.17 to 64.06 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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