Pre-opening Comments for Wednesday March 18^th

U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points at 8:35 AM EST.

S&P 500 futures dropped 15 points following release of the February U.S. Producer Price Index. Consensus was a 0.3% increase versus a 0.5% increase in January. Actual was a 0.7% increase. Excluding food and energy, February PPI increased 0.5%.

The Bank of Canada’s decision on interest rates is released this morning. Consensus calls for no change in the rate currently offered to major Canadian banks at 2.25%.

FOMC Decision on interest rates is released at 2:00 PM EST. Federal Reserve chairman Powell holds a press conference at 2:30 PM EST. Consensus calls for no change in the Fed Fund Rate currently at 3.50%-3.75%.

Nvidia added $1.64 to $183.50 after receiving licence approval from the Chinese government to sell its H200 chips to China.

Docusign (DOCU) added $0.89 to $48.43 after reporting higher than consensus fourth quarter revenues. The company also announced an increase in its share buyback program.

Lulu lemon dropped $0.64 to $159.27 despite reporting higher than consensus fourth quarter revenues and earnings. The company also issued first quarter guidance below consensus.

EquityClock’s Market Outlook for March 18^th

The latest read of Industrial Production in the US attests that the Manufacturing Renaissance into the spring is real, enticing exposure in portfolios to the groups that are exposed. See:

https://equityclock.com/2026/03/17/stock-market-outlook-for-march-18-2026/

Technical Notes

Micron (MU) a NASDAQ 100 stock moved above $455.50 to an all-time high extending an intermediate uptrend.

O’Reilly Automotive (ORLY) a NASDAQ 100 stock moved below $89.12 extending an intermediate downtrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 17^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for March 17^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 17^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

These Charts Could Decide the Next Market Move: David Keller

These Charts Could Decide the Next Market Move (stockcharts.com)

Trading Places Live! March 17, 2026: Tom Bowley

Trading Places Live! march 17, 2026 – YouTube

THE 2008 TRAP: Why the S&P 500 Bounce is a Massive "Sell The News" Event

Verified Investing

THE 2008 TRAP: Why the S&P 500 Bounce is a Massive "Sell The News" Event – YouTube

NEC Director Kevin Hassett: Tankers are starting to go through the Strait of Hormuz

NEC Director Kevin Hassett: Tankers are starting to go through the Strait of Hormuz – YouTube

A Massive Winter Storm Threat Is Coming

https://www.youtube.com/shorts/26jbvdCTSec

Editor’s Note: Good for natural gas prices as they enter their period of seasonal strength!

See:

https://charts.equityclock.com/natural-gas-futures-ng-seasonal-chart

S&P 500 Momentum Barometers

The intermediate term Barometer added 2.20 to 35.60. It remains Oversold. An encouraging bounce at a time when seasonal influences normally bottom!

The short term (20 days) Barometer added 1.20 to 27.00. It remains Oversold.

An encouraging bounce at a time when seasonal influences normally bottom!

The long term Barometer was unchanged at 51.40. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer slipped 0.92 to 44.70. It remains Neutral.

The short term (20 days) Barometer advanced 4.15 to 40.09. It changed from Oversold to Neutral on a move above 40.00. An encouraging bounce when seasonal influences normally bottom!

The long term Barometer increased 2.30 to 76.50. 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.

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