Tech Talk for Wednesday February 28th 2018

U.S. equity index futures were mixed this morning. S&P 500 futures were up 2 point in pre-opening trade.

Index futures were virtually unchanged following release of the second estimate for real U.S. fourth quarter GDP growth. Consensus was a slip to 2.5% from the first estimate at 2.6%. Actual was growth at a 2.5% rate.

The Canadian Dollar was virtually unchanged following release of the Federal Government budget after the close yesterday.

Valeant dropped $1.35 to $17.15 after reporting lower than consensus fourth quarter results. The company also lowered its 2018 guidance.

National Bank (NA $63.72 Cdn) is expected to open higher after reporting higher than consensus first quarter earnings.

Office Depot gained $0.03 to $2.93 after reporting higher than consensus fourth quarter results.

Macy's added $0.54 to $28.94 after RBC Capital and Cowen raised their target price on the stock.

Lowe's dropped $7.29 to $88.50 after announcing lower than consensus fourth quarter results.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/02/27/stock-market-outlook-for-february-28-2018/

Note seasonality charts on U.S. International Trade Imports, U.S. International Trade Exports, Case/Shiller 20 City Home Price Index and Capital Goods Orders.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:15: Bullish. Breakouts: $M $SNI $BF.B $AJG, $AFL, $NTRS $RF $SRE $INTC. Breakdowns: $CMCSA $PRGO.

Editor's Note: After 10:15 AM EST, breakouts included BAC and FITB. Breakdowns included ORLY, AZO, BWA and HOG

Intel $INTC, a Dow Jones Industrial stock, moved above $50.51 to an all-time high extending an intermediate uptrend.

Toronto Dominion Bank $TD.CA, a TSX 60 stocks moved above $75.09 to an all-time high extending an intermediate uptrend.

Semiconductor ETFs $SOXX $SMH break to an all-time high extending an intermediate uptrend.

Auto retail stocks $AZO $ORLY break support completing a short term Head & Shoulders pattern.

Home Prices higher by 6.3% in 2017, well above average calendar year increase of 3.8%. #Housing #Economy $MACRO

US Durable Goods Orders down by 31.2% (NSA) in January, firmly lower than the 27.5% decline that is average for month. #Economy $MACRO

US Imports and Exports moved in opposite directions in January: Imports up 1.3% (NSA), Exports down 8.0%. #Economy $MACRO $STUDY

Trader's Corner

Daily Seasonal/Technical Equity Trends for February 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for February 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for February 27th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer plunged 10.11 to 45.49 yesterday. It dropped to intermediate neutral from intermediate slightly overbought.

TSX Momentum Barometer

The Barometer slipped 2.44 to 31.71 yesterday. It remains intermediate oversold.

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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