Tech Talk for Wednesday February 14th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 26 points in pre-opening trade.

Index futures moved lower following release of economic news at 8:30 AM EST. Consensus for January Consumer Prices was an increase of 0.3% versus a gain of 0.1% in December. Actual was an increase of 0.5%. Excluding food and energy, consensus for January Consumer Prices was an increase of 0.2% versus a gain of 0.3% in December. Actual was an increase of 0.3%. Consensus for January Retail Sales was an increase of 0.3% versus revised no change in December. Actual was down 0.3%. Excluding auto sales, consensus for January was an increase of 0.5% versus a downwardly revised decline of 0.2% in December. Actual was unchanged

Chipotle tacked on $28.69 to $280.02 after that Taco Bell's former CEO has become Chipotle's new CEO.

Netflix gained $5.63 to $263.90 after SunTrust raised its target price to $270 from $175.

Molson Coors added $2.05 to $77.75 after reporting higher than consensus fourth quarter earnings.

Celgene gained $1.15 to $93.13 after announcing an additional $5 billion share buyback program.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/02/13/stock-market-outlook-for-february-14-2018/

Note seasonality charts on U.S. Consumer Prices, Corn, Soybeans and the Baltic Dry Index

Observations

Short term momentum indicators (Stochastics, RSI, MACD) for U.S. equity indices and most major sectors have turned up from oversold levels. See tables below.

Copper and copper stocks were notably stronger yesterday. 'Tis the season for copper and copper/base metal stocks to move higher into early May!

Potential equity ETFs in this sector include ZMT.CA in Canada and PICK and COPX in the U.S.

Strength in commodity prices yesterday (precious metals, base metals, grains, lumber, natural gas, gasoline) can be attributed to a rollover by the U.S. Dollar Index from short term overbought levels.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:30: Quiet. Breakout: $UAA. Breakdowns: $HSIC $PDCO.

Editor's Note: No additional breakouts or breakdowns by S&P 500 stocks after 10:30.

First Quantum Minerals $FM.CA moved above $19.75 to a 3.5 year high extending an intermediate uptrend.

'Tis the season for First Quantum Minerals $FM.CA to move higher to mid-May!

Soybeans ETN $SOYB moved above $18.58 setting an intermediate uptrend.

CGI Group $GIB.A.CA, a TSX 60 stock moved above $72.39 to all-time high extending an intermediate uptrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for February 13th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for February 13th 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 13th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer gained another 2.80 to 28.60 yesterday. It remains intermediate oversold and showing early signs of bottoming.

TSX Composite Momentum Barometer

The Barometer was unchanged yesterday at 17.96. It remains deeply 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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