Tech Talk for Friday January 29th 2021

Walmart (WMT), a Dow Jones Industrial Average stock moved below $142.30 setting an intermediate downtrend.

Moderna (MRNA), a NASDAQ 100 stock moved above $178.50 to an all-time high extending an intermediate uptrend.

Lithium ETN (LIT) moved below $67.56 completing a short term double top pattern.

Pre-opening Comments for Friday January 29th

U.S. equity index futures were lower this morning. S&P 500 futures were down 27 points in pre-opening trade.

Equity index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for December Personal Income was an increase of 0.1% versus a decline of 1.1% in November. Actual was an increase of 0.1%. Consensus for December Personal Spending was a decline of 0.4% versus a drop of 0.4% in November. Actual was a decline of 0.4%.

The Canadian Dollar was virtually unchanged at US78.25 cents following release of Canada's November GDP. Consensus was an increase of 0.3% versus a gain of 0.4% in October. Actual was an increase of 0.7%.

Visa gained $2.98 to $201.20 following release of better than expected fourth quarter revenues and earnings. The company also announced extension of its share buyback program

Caterpillar added $7.36 to $191.70 after reporting higher than consensus fourth quarter revenues and earnings.

Chevron dropped $1.12 to $87.90 after reporting lower than consensus fourth quarter revenues and earnings.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/01/28/stock-market-outlook-for-january-29-2021/

Technical Notes from Yesterday

McDonald's (MCD), a Dow Jones Industrial Average stock moved below $205.94 resuming an intermediate downtrend.

Rogers Communications (RCI), a TSX 60 stock moved below $58.33 extending an intermediate downtrend

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 28th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for January 28th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 28th 2021

Green: Increase from previous day

Red: Decrease from previous day

The Canadian Technician

Greg Schnell says, "Airlines struggle with takeoff". Following is a link:

Airlines Struggle With Taking Off | The Canadian Technician | StockCharts.com

S&P 500 Momentum Barometers

The intermediate Barometer recovered 9.02 to 55.31 yesterday. It remains intermediate neutral.

The long term Barometer was unchanged yesterday at 88.38. It remains extremely long term overbought.

TSX Momentum Barometers

The intermediate Barometer recovered 6.31 to 50.97 yesterday. It remains intermediate neutral.

The long term barometer added 2.43 to 76.70 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