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Tech Talk for Thursday February 4th 2021

Morning Technical Notes for Wednesday February 3rd

Check Point (CHKP), a NASDAQ 100 stock moved below $125.32 completing a double top pattern.

Workday (WDAY), a NASDAQ 100 stock moved above $259.01 to an all-time high extending an intermediate uptrend.

Magna International (MG), a TSX 60 stock moved above Cdn$97.98 to an all-time high extending an intermediate uptrend.

Long Term U.S. Treasury iShares (TLT) moved below $149.75 extending an intermediate downtrend.

Canadian and U.S. energy stocks and their related ETFs surged on news that Saudi Arabia will reduce production.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for February 3rd 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for February 3rd 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 3rd 2021

Green: Increase from previous day

Red: Decrease from previous day

Market Buzz

Greg Schenll says,”Oil stocks could double in near term”. Following is a link:

Editor’s Note: Seasonal influences for Canadian and U.S. energy sectors are positive on a real and relative basis (particularly relative to the S&P 500 Index) to early March and frequently to the third week in April. Short term technicals are improving. See today’s improving Technical Scores for the sectors above.

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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