Editor’s Note: After the close yesterday, a wide variety of major companies reported less than consensus quarterly results including Apple, Amazon, Alphabet, Starbucks, Ford and Atlassian.
Technical Notes
Retail SPDRs $XRT moved above $74.70 extending an intermediate uptrend.
Lowes $LOW an S&P 100 stock moved above $220.29 extending an intermediate uptrend.
United Parcel Services $UPS an S&P 100 stock moved above $191.60 extending an intermediate uptrend.
Alphabet $GOOG $GOOGL a NASDAQ 100 stock moved above $102.59 and $102.25 respectively after reporting higher than consensus quarterly results.
Align Technology $ALGN a NASDAQ 100 stock moved above $302.97 extending an intermediate uptrend.
Intuit $INTU a NASDAQ 100 stock moved above $441.09 resuming an intermediate uptrend.
Marvell Technology $MRVL a NASDAQ 100 stock moved above $47.26 resuming an intermediate uptrend.
Fastenal $FAST a NASDAQ 100 stock moved above $43.12 extending an intermediate uptrend.
Chevron $CVX a Dow Jones Industrial Average stock moved below $167.10 completing a double top pattern
Sirius $SIRI a NASDAQ 100 stock moved below $5.68 extending an intermediate downtrend.
Bristol-Myers Squibb $BMY an S&P 100 stock moved below $70.31 extending an intermediate downtrend.
Gilead $GILD a NASDAQ 100 stock moved below $81.81 completing a double top pattern.
Note that the company reported higher than consensus fourth quarter results after the close. The stock gained $1.97 to $88.36.
Honeywell $HON a Dow Jones Industrial Average stock moved below $198.81 extending an intermediate downtrend.
Travelers $TRV a Dow Jones Industrial Average stock moved below $181.36 completing a modified Head & Shoulders pattern.
Thomson Reuters $TRI.TO a TSX 60 stock moved above $159.82 to an all-time high extending an intermediate uptrend.
Algonquin Power $AQN.TO a TSX 60 stock moved above $9.99 completing a double bottom pattern.
Constellation Software $CSU.TO a TSX 60 stock moved above $2,381.28 to an all-time high extending an intermediate uptrend.
George Weston $WN.TO a TSX 60 stock moved below $165.42 completing a double top pattern.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Feb.2nd 2023
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Feb.2nd 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Feb.2nd 2023
Green: Increase from previous day
Red: Decrease from previous day
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Mark Leibovit comment
Interest Rates, Gold, US Dollar, Lithium, Cryptos – HoweStreet
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 1.60 to 74.20. It remains Overbought.
The long term Barometer added 3.60 to 78.00. It remains Overbought. Trend is up.
TSX Momentum Barometers
The intermediate term Barometer dropped 4.66 to 70.76. It remains Overbought. Short term trend has turned down.
The long term Barometer slipped 1.27 to 72.46. It remains Overbought.
Disclaimer: Seasonality ratings 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
