Pre-opening Comments for Thursday February 15^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points at 8:35 AM EST.

S&P 500 futures added 5 points following release of economic news at 8:30 AM EST. Consensus for January retail Sales was a drop of 0.3%. Actual was a drop of 0.8%. Consensus for January U.S. retail sales ex auto sales was a drop of 0.2% versus a gain of 0.4% in December. Actual was a drop of 0.6%. Consensus for the February Philly Fed Index was -8.0 versus -10.6 in January. Actual was +5.2. Consensus for the February Empire State Manufacturing Survey was -12.50 versus -43.70 in January. Actual was -2.4.

Cisco dropped $2.70 to $45.58 after offering guidance below consensus estimates.

Twilio dropped $6.55 to $65.51 after reporting fourth quarter revenues below consensus.

Canadian Tire is expected to open lower after reporting less than consensus fourth quarter earnings and revenues.

Manulife Financial is expected to open higher after raising its quarterly dividend by 9.6%.

 

Technical Notes

Dow Jones Transportation iShares $IYT moved above $273.40 to an all-time high extending an intermediate uptrend.

Kraft Heinz $KHC an S&P 100 stock moved below $35.69 extending an intermediate downtrend.

TSX Gold iShares $XGD.TO moved below Cdn$15.14 extending an intermediate downtrend.

Barrick Gold $ABX.TO a TSX 60 stock moved below Cdn$18.93 extending an intermediate downtrend.

Biogen $BIIB a NASDAQ 100 stock moved below $220.86 extending an intermediate downtrend.

Couche-Tard $ATD.TO a TSX 60 stock moved above Cdn$82.32 to an all-time high extending an intermediate uptrend.

Dollarama $DOL.TO a TSX 60 stock moved above Cdn$101.73 to an all-time high extending an intermediate uptrend.

Nutrien $NTR.TO a TSX 60 stock moved below Cdn$65.35 extending an intermediate downtrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Feb.14^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

 

Commodities

Daily Seasonal/Technical Commodities Trends for Feb.14^th 2024

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for Feb.14^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links from valued providers

RISK OFF MOVE! S&P 500 Plunges Below 5K: David Keller

RISK OFF MOVE! S&P 500 Plunges Below 5K – YouTube

 

Inflation Back in the Driver’s Seat: Pete Carmasino

Inflation Back in the Driver’s Seat – YouTube

 

EASY SCAN! Find Growth Names in Small-Caps

EASY SCAN! Find Growth Names in Small-Caps – YouTube

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 3.20 to 56.80. It remains Neutral.

The long term Barometer added 2.60 to 70.00. It remains Overbought.

 

TSX Momentum Barometers

The intermediate term Barometer added 7.56 to 50.22. It remains Neutral.

The long term Barometer added 2.22 to 54.67. It remains Neutral.

 

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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