Observations Currencies other than the U.S. Dollar are under pressure. The Japanese Yen has virtually collapsed during the past week. The British Pound moved below support at 129.04 setting an intermediate downtrend. Currency weakness is having an impact on international equity and ETF prices valued in U.S. Dollars. Japan iShares dropped sharply and completed an intermediate topping pattern Ditto for South Korea iShares, down over 3% yesterday! Meanwhile, Canadian oil prices have jumped over 17% during the past 10 days. Canadian energy stocks finally are starting to respond. ‘Tis the season for the Canadian energy sector to move higher on a real and relative basis until the third week in April! $SPTEN Relative to the S&P 500 StockTwits released yesterday @EquityClock Days of supply of gasoline rolling over earlier than average this year, however, the level remains elevated above the seasonal norm and above the level seen last year at this time. $USO $UGA $XLE $XOP Editor’s Note: Gasoline prices in Canada and the U.S. have a history of moving higher to the end of May. Symbol for the ETF is UGA. CGI Group $GIB.A.CA, a TSX 60 stock moved below $100.02 extending an intermediate downtrend. Trader’s Corner Equity Indices and related ETFs Daily Seasonal/Technical Equity Trends for February 20th 2020 Green: Increase from previous day Red: Decrease from previous day Commodities Daily Seasonal/Technical Commodities Trends for February 20th 2020 Green: Increase from previous day Red: Decrease from previous day Sectors Daily Seasonal/Technical Sector Trends for February 20th 2020 Green: Increase from previous day Red: Decrease from previous day Keith Richards’ Blog Keith asks “Everything’s up – but is that good”? Following is a link: https://www.valuetrend.ca/everythings-up-but-is-that-good/ S&P 500 Momentum Barometer The Barometer added 0.20 to 64.13 yesterday. It remains intermediate overbought. TSX Momentum Barometer The Barometer added 0.30 to 64.35 yesterday. It remains intermediate 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