Tech Talk for Thursday February 14th 2019

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Pre-opening Comments for Thursday February 14th

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.

Index futures moved lower following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was 225,000 versus 234,000 last week. Actual was 239,000. Consensus for the January Producer Price Index was an increase of 0.1% versus a decline of 0.2% in December. Actual was a decline of 0.1%. Excluding food and energy, consensus for the January Producer Price Index was an increase of 0.2% versus a gain of 0.2% in December. Actual was an increase of 0.2%.Consensus for December Retail Sales was a gain of 0.1% versus an advance of 0.2% in November. Actual was a drop of 1.2%. Excluding auto sales, consensus for December Retail Sales was an increase of 0.4% versus a gain of 0.5% in November. Actual was a drop of 1.8%.

Cisco gained $2.00 to 49.50 after reporting higher than consensus fiscal third quarter earnings.

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NetApp dropped $5.10 to $62.25 after reporting lower than consensus third quarter revenues. JP Morgan downgraded the stock to Neutral from Overweight.

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Coca Cola dropped $2.09 to $47.70 after reporting lower than consensus fourth quarter earnings.

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Canadian Tire (CTC.A $147.01 Cdn.) is expected to open lower after reporting lower than consensus fourth quarter earnings.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/02/13/stock-market-outlook-for-february-14-2019/

Note seasonality charts on Crude Oil inventories, Gasoline inventories and the Consumer Price Index.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bullish. Intermediate breakouts: $HLT $TIF $MCK $ECL

Editor’s Note: After 10:00 AM EST, intermediate breakouts included HON, JEC, TFX, DVA, FBHS and ALLE.

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Equal Weighted S&P 500 ETF $RSP moved above $102.74 extending an intermediate uptrend

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U.S. Broker iShares $IAI moved above $61.47 extending an intermediate uptrend

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Tourmaline Oil $TOU.CA moved above $19.44 completing a base building pattern

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Cenovus Energy $CVE.CA, a TSX 60 stock moved above $10.93 completing a reverse Head & Shoulders pattern.

Editor’s Note: BNNBloomberg interview with the CEO offered an encouraging outlook.

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ARC Resources $ARX.CA, a TSX 60 stock moved above $9.99 completing a base building pattern.

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US #CPI up 0.2% (NSA) in January, weaker than the 0.3% average increase for the first month of the year. $MACRO $STUDY #Economy #Inflation

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China ETF $ZCH.CA moved above $23.81 completing a double bottom pattern. Tracking the Shanghai Composite Index $SSEC

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Trader’s Corner.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for February 13th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for February 13th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 13th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

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http://www.equityclock.com/about/seasonal-advantage-portfolio/

 

S&P 500 Momentum Barometer

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The Barometer added 6.00 to 87.60 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer slipped 1.28 to 84.68 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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19 Responses to “Tech Talk for Thursday February 14th 2019”

  1. Ana Says:

    $SPX

    http://schrts.co/XuIdsJGG

  2. KC Says:

    Morning Bernie,

    I’m not sure if it was you or someone else that had scripted out a long post about what you do with your RRSP $$$. I have always had mine sitting in GICs and have been thinking about doing other things with it. It might have been at the time you had talked about Mawer funds as well. I’m seeking options for investment inside RRSP. Would you mind sharing your strategy please ?

    Thanks,
    KC

  3. KC Says:

    Ron/BC,

    In your post #9 on February 11th, 2019 about Teck/B, did you happen to draw any support n resistance lines on the Teck chart or just the DBC chart ? I do not see any on Teck.

    Thanks,
    KC

  4. KC Says:

    Ron/BC,

    Ignore that please, I see what you did 🙂

    Thanks

  5. Larry/ON Says:

    A reason for caution

    https://www.cnbc.com/2019/02/14/retail-sales-were-so-bad-its-either-suspect-or-a-recession-warning.html

  6. Ron/BC Says:

    Here is a trade I made yesterday and exited today. Made a couple of hundred bucks which is fine for a day trade. Nice chart pattern with a building “W” pattern and the RSI 8 and Slow Stochastics both had buy signals by recrossing 30 and 80. Could have held it but the intraday charts showed a negative divergence on this latest bump up. And the daily chart sees price bumping the bottom of the January consolidation pattern resistance plus price is still respecting the 50ema resistance like in January. But still a bullish pattern and if price can clear 7.12 it could easily run to $9-$9.50. One of the nicer set ups out there. Will consider buying it back on a pullback if it is so kind. (And no I wont feel bad it it soars to the moon without me. I don’t have FOMO disease……..

    https://stockcharts.com/h-sc/ui?s=ECA&p=D&yr=2&mn=0&dy=0&id=p2429963252c&a=579408588

  7. Ron/BC Says:

    The Canadian dollar $CDW bounced off 75 support again today. The 75 cent level is important price support so a close below this level would suggest another selloff. Meanwhile support is support and so far so good. Let me know if you can’t see the 2nd seasonal chart………No point in posting charts that others can’t see.

    https://stockcharts.com/h-sc/ui?s=%24CDW&p=D&yr=2&mn=0&dy=0&id=p3574391319c&a=579408456

    https://stockcharts.com/freecharts/seasonality.php?symbol=%24cdw&compare=

  8. Bernie Says:

    Lony & KC,

    Re: My #2 yesterday
    I entered an incorrect link in paragraph 4. The corrected paragraph follows:

    If other fundamental metrics appeal to you Morningstar is a good source for key stats: http://quote.morningstar.ca/Quicktakes/stock/keyratios.aspx?t=WSP&region=CAN&culture=en-CA&ops=clear

  9. Bernie Says:

    KC,
    Re #2
    The vast bulk of my investments lie in my RRIF which I converted from my RRSP last year. I don’t have a simple answer for you regarding my RRSP/RRIF investing strategy because I changed up my portfolio 3 times in 2018. I’ll get back to you on the changes I made and my opinion on what might be best all-round for most investors in or near retirement…an easier path with less hands on so you can smell the coffee, enjoy the sunset and sleep well. LOL

  10. KC Says:

    Bernie,

    I am far from retirement, at least 17 years if not longer. I’d like to divi up mine and my wife’s RRSP portfolio into maybe a 60/40 split, 60 being in safer instruments and possibly do something a bit more risky with the 40. Perhaps the mawer funds. It was you who talks about Mawer frequently I think ?

    Thanks for the repsonse,
    KC

  11. KC Says:

    Hi Ron/BC,

    Just wanted to thank you for yesterday’s comments on RSI (8) + (21)

    Cheers,
    KC

  12. Florence Stokes Says:

    #9 Bernie

    I’ll be looking forward to hearing about your changed made in 2018!
    Florenc3e

  13. Ron/BC Says:

    KC
    Well for all the times I’ve talked about the good weather in Victoria relative to the rest of Canada I got payback the other day crossing the snow/slush mix here trying to run and catch the bus that was almost at the bus stop. I fell flat on my face in this greasy,watery,slushy mix some call snow here right at a major intersection with all the cars waiting at the light. Must have given everyone a good laugh. Too bad there wasn’t a video of it or I’d send it to you. No harm done other than pride as I was wet and a bit beat up but as usual I survived with no repercussions other than that.(And I did catch that bus). Have been driving the last couple of days as the roads are clear again and temperatures are rising somewhat. Hopefully this weather wont happen again until I get some “All Weather tires” I’ve been told about. Likely no hurry now but you never know and I do like to be prepared at all times for most everything.

  14. Bernie Says:

    KC, Re: #10
    Yep it was me who kept bringing up Mawer funds last year. Without going into details on the changes I made in my RRIF investments I’ll just cut to the chase and keep it simple. If I were in your shoes, ie; 17 years to retirement wanting the 60/40 split I’d choose one or both of Mawer Global Balanced Fund (MAW130) and Mawer Balanced Fund (MAW104) for the 60% safe allotment. The difference in the two is basically Canadian content. MAW130 holds more so its outperformed MAW104. For the other 40% I’d suggest either or both of Mawer Global Balanced Fund (MAW120) and iShares Edge MSCI Min Vol Global ETF (XMW). Both have been excellent for growth. For more specifics on content and performance, etc I suggest you check Mawer and iShares home pages and Morningstar.ca.

    Florence, Re: #12
    I suggest much the same thing for you unless you want to become more involved with DGI. My wife will likely inherit all of our holdings at some point in the future. She is not into managing a complex portfolio so I’m suggesting a simplified mix of Mawer Funds would be the best combination of simplicity and performance for her. IMO it can’t be any easier than holding one or more of MAW120, MAW130, MAW104 in the portfolio and then setting up automatic withdrawals for income. Most Canadian discount brokers offer commission-free transactions with mutual funds if they were held a minimum of 3 months.

  15. Bernie Says:

    KC & Florence,

    If you have further questions feel free to ask me. I haven’t been on here much of late because no one has been asking questions on areas I have a bit of experience in, ie; dividend securities, mutual funds or seasonality. I’ve been much “busier” on Facebook dividend groups.

  16. Florence Stokes Says:

    #15 Bernie:
    Thanks for the reply. I do go onto Facebook but I’m not sure how to find the Facebook dividend groups. Could you enlighten me?

    Thanks Florence

  17. Bernie Says:

    Florence,

    I belong to a couple of them. If interested the names and links are shown below:

    (1) “Canadian Dividend Investing”.
    https://www.facebook.com/groups/495872100592604/

    (2) “Dividend Growth Investing”
    https://www.facebook.com/groups/323793151022876/

  18. dave/ab Says:

    Hi Bernie

    These 2 F/B sites, are people on there pretty active and recommend stocks?

  19. Bernie Says:

    dave/ab,

    The “Canadian Dividend Investing” group fields predominantly Canadian investing dialog, the “Dividend Growth Investing” group discussion is largely on the American market. Both sites are fairly active. Most threads begin with questions on particular stocks and then get active with comments. Many of the questions seem to be from newbie investors who know little about investing, let alone dividend strategies. As you can imagine the comments/answers can be quite varied in opinion considering the broad spectrum of members. There is a search box on the left side if you want to check the archives on a particular interest.

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