Tech Talk for Tuesday February 2nd 2021
Salesforce.com (CRM), an S&P 100 stock moved above intermediate resistance at $233,18
![clip_image001[9]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0019.png "clip_image001[9]")
DexCom (DXCM), a NASDAQ 100 stock moved above $396.98 extending an intermediate uptrend.
![clip_image002[9]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0029.png "clip_image002[9]")
Pre-opening Comments for Tuesday February 2nd
U.S. equity index futures were higher this morning. S&P 500 futures were up 30 points in pre-opening trade.
Pfizer added $0.07 to $35.87 after reporting higher than consensus fourth quarter revenues.
![clip_image001[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0017.png "clip_image001[7]")
UPS gained $5.74 to $162.00 after reporting higher than consensus fourth quarter revenues and earnings.
![clip_image002[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0027.png "clip_image002[7]")
ExxonMobil advanced $0.98 to $45.90 after reporting higher than consensus adjusted fourth quarter earnings
![clip_image003[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0037.png "clip_image003[7]")
Harley Davidson dropped $2.15 after reporting lower than consensus fourth quarter revenues and earnings.
![clip_image004[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0047.png "clip_image004[7]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/02/01/stock-market-outlook-for-february-2-2021/
Note seasonality report on U.S. Construction Spending.
Technical Notes for Monday February 1st
Silver iShares (SLV) moved above $25.74 and $27.39 to an eight year high extending an intermediate uptrend.
Silver Miners ETF (SIL) moved above $50.00 extending an intermediate uptrend.
Pan American Silver (PAAS) moved above $38.69 extending an intermediate uptrend.
Hecla Mining (HL) moved above $7.06 to a 10 year high extending an intermediate uptrend.
First Majestic Silver (FR.TO AG) moved above Cdn$25.79 to an all-time high extending an intermediate uptrend.
Cameco (CCO.TO CCJ), a TSX 60 stock moved above Cdn$18.91 and US$14.87 to a six year high on a Bank of America report expecting President Biden to extend delays of closures of U.S. Nuclear plants past 2030 as part of his "clean air" policy.
Natural Gas ETN (UNG) moved above $10.39 completing a modified reverse Head & Shoulders pattern.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for February 1st 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for February 1st 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for February 1st 2021
Green: Increase from previous day
Red: Decrease from previous day
Greg Schnell's comments on the Airline industry
Greg asks, "Can airlines fly"? Following is a link:
Can Airlines Fly? | The Canadian Technician | StockCharts.com
S&P 500 Momentum Barometers
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0015.png "clip_image001[5]")
The intermediate Barometer gained 8.82 to 50.30 yesterday. It remains intermediate neutral.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0025.png "clip_image002[5]")
The long term Barometer added 2.00 to 88.38 yesterday. It remains extremely long term overbought.
TSX Momentum Barometers
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0035.png "clip_image003[5]")
The intermediate Barometer advanced 17.21 to 55.56 yesterday. It changed from intermediate oversold to intermediate neutral on a recovery above 40.00.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/02/clip_image0045.png "clip_image004[5]")
The long term Barometer added 3.99 to 78.26 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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