Tech Talk for Friday February 5th 2021
Zoom (ZM), a NASDAQ 100 stock moved above $486.83 resuming an intermediate uptrend.
![clip_image001[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0013-1.png "clip_image001[3]")
Canadian "gassy" stocks are moving higher. Nice breakout by Birchcliff Energy above $2.42 extending an intermediate uptrend!
![clip_image002[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0023.png "clip_image002[3]")
Bausch Health (BHC), a TSX 60 stock moved above $35.45 extending an intermediate uptrend.
![clip_image003[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0033.png "clip_image003[3]")
Cisco Systems (CSCO), a Dow Jones Industrial Average stock moved above $47.62 extending an intermediate uptrend.
![clip_image004[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0043.png "clip_image004[3]")
Pre-opening Comments for Friday February 5th 2021
U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade.
Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for January U.S. Non-farm Payrolls was an increase of 50,000 versus upwardly revised decline of 227,000 in December. Actual was an increase of 49,000. Consensus for January Unemployment Rate was unchanged from December at 6.7%. Actual was unchanged at 6.7%. Consensus for January Average Hourly Earnings was an increase of 0.3% versus a gain of 0.8% in December. Actual was an increase of 0.2%. Consensus for the December U.S. Trade Deficit was $65.70 billion versus an upwardly revised $69.00 billion in November. Actual was a $66.60 billion.
The Canadian Dollar virtually unchanged at U.S. 78.12 cents following release of economic news at 8:30 AM EST. Consensus for Canada's January Employment was a drop of 40,000 versus a upwardly revised decline of 68,200 in December. Actual was a drop of 212,800. Consensus for the January Unemployment Rate was 8.9%. Actual was an increase to 9.4%. Consensus for Canada's December Trade Deficit was $2.60 billion versus $3.31 billion in November. Actual was a deficit of $1.67 billion.
Hershey added $0.64 to $147.22 after reporting higher than consensus fourth quarter revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0011-1.png "clip_image001[1]")
Gilead Sciences improved $1.17 to $67.00 after reporting higher than consensus quarterly revenues and earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0021-2.png "clip_image002[1]")
Peloton plunged $12.82 to $144.70 despite reporting record revenues for the quarter. However, the company also noted that higher than expected shipping costs cut into profit margins. Raymond James downgraded the stock from Strong Buy to Market Perform.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0031-2.png "clip_image003[1]")
Snap dropped $4.34 to $53.97 after noting higher revenue and earnings risk related competition with Apple's recent software upgrade.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0041-1.png "clip_image004[1]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/02/04/stock-market-outlook-for-february-5-2021/
Technical Notes for Thursday February 4th
TSX Composite Index briefly moved above 18,058.61 to an all-time high extending an intermediate uptrend.
CDW Corp (CDW), a NASDAQ 100 stock moved above $146.50 to an all-time high extending an intermediate uptrend.
eBay (EBAY), a NASDAQ 100 stock moved above $60.69 to an all-time high extending an intermediate uptrend. The stock is responding to higher than consensus fourth quarter results, a dividend increase and positive guidance.
Global Agriculture iShares (COW.TO) moved above Cdn$52.68 to an all-time high extending an intermediate uptrend.
U.S. REIT iShares (IYT) moved above $88.12 extending an intermediate uptrend.
Twitter (TWTR) moved above $56.11 to an all-time high extending an intermediate uptrend.
Align Technology (ALGN), a NASDAQ 100 stock moved above $579.50 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for February 4th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for February 4th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for February 4th 2021
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The intermediate Barometer advanced 8.82 to 67.94 yesterday. It changed from intermediate neutral to intermediate overbought on a move back above 60.00.
The long term Barometer added 1.40 to 90.18 yesterday. It remains extremely long term overbought.
TSX Momentum Barometer
The intermediate Barometer advanced 3.76 to 62.50 yesterday. It changed from intermediate neutral to intermediate overbought on a move back above 60.00.
The long term Barometer slipped 0.26 to 76.92 yesterday. It remains long term 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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