Pre-opening Comments for Wednesday February 8^th

U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points in pre-opening trade.

Enphase advanced $16.35 to $244.81 after reporting higher than consensus fourth quarter earnings. The company also offered positive guidance.

Prudential Financial dropped $2.81 to $99.99 after reporting a fourth quarter loss.

Chipotle fell $76.86 to $1,646.00 after reporting lower than consensus fourth quarter revenues and earnings.

Uber gained $2.53 to $37.43 after reporting higher than consensus quarterly revenues.

 

EquityClock’s Daily Comment

Headline reads “With a good chunk of earnings season now complete, some companies are clearly still growing while others are not.  We have been Accumulators of the former”.

http://www.equityclock.com/2023/02/07/stock-market-outlook-for-february-8-2023/

 

Technical Notes

JP Morgan $JPM a Dow Jones Industrial Average stock moved above $143.49 extending an intermediate uptrend.

Dupont $DD an S&P 100 stock moved above $75.38 extending an intermediate uptrend.

Fiserv $FISV a NASDAQ 100 stock moved above $110.94 extending an intermediate uptrend.

Ross Stores $ROST a NASDAQ 100 stock moved below $114.33 and $112.40 extending an intermediate downtrend.

Couche Tard $ATD.TO a TSX 60 stock moved below $59.01 and $58.96 setting an intermediate downtrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Feb.7^th 2023

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for Feb.7^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for Feb.7^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Link offered by a valued provider

Earnings Gaps For Better Trades | Tom Bowley | Trading Places (02.07.23)

https://www.youtube.com/watch?v=qfKq8uq3pkA

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 4.00 to 71.60. It remains Overbought.

The long term Barometer added 1.40 to 72.80. It remains Overbought.

 

TSX Momentum Barometers

The intermediate term Barometer added 1.27 to 66.10. It remains Overbought.

The long term Barometer added 2.12 to 68.64. It remains Overbought.

Disclaimer: Seasonality ratings 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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