Pre-opening Comments for Friday March 20th
U.S. equity index futures were lower this morning. S&P 500 futures were down 17 points at 8:30 AM EST.
Today is Quadruple Witching Day for North American equity markets (i.e. the last trade day for listed index and equity options and futures). Look for higher than average volumes as March positions are liquidated, exercised and/or rolled over to future months.
FedEx (FDX) added $32.29 to $388.40 after reporting higher than consensus third quarter revenues and earnings.
Planet Labs (PL) added $3.94 to $30.90 after the company issued a favourable outlook.
Super Micro (SMCI) plunged $3.65 to $27.14 after the U.S. Department of Justice charged the company on alleged illegal AI chip exports to China.
EquityClock’s Market Outlook for March 20th
The market is testing critical levels of support and now may be the time to pick up exposure to stocks that have pulled back in order to participate in the seasonal strength through the weeks ahead. See:
https://equityclock.com/2026/03/19/stock-market-outlook-for-march-20-2026/
Technical Notes
Natural Gas ETN (HUN.TO) moved above Cdn$8.95 extending an intermediate uptrend.
Base Metals ETN (DBB) dropped below $23.07 completing a double top pattern.
Gold ETN (GLD) dropped below $422.85 completing a double top pattern
Silver ETN (SLV) moved below $65.14 completing a double top pattern
Platinum ETN (PPLT) moved below $180.57 completing a Head & Shoulders pattern.
Lithium ETN (LIT) moved below $67.61 and $68.02 completing a Head & Shoulders pattern.
S&P 100 and NASDAQ 100 stock breaking support setting/extending intermediate downtrends included Walmart (WMT) on a move below $121.05, Home Depot (HD) on a move below $327.05, Fastenal (FAST) on a move below $44.51 and Cognizant (CTSH) on a move below $60.03, Cintas (CTAS) on a move below $182.72, Adobe (ADBE) on a move below $44.28
Dollarama (DOL.TO) a TSX 60 stock moved below Cdn$162.69 extending an intermediate downtrend.
Power Corp (POW.TO) a TSX 60 stock moved below Cdn$63.35 extending an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 19th 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 19th 2026
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 19th 2026
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Fed Uncertainty Sparks Selloff — This Level Matters Now: Tom Bowley
Fed Uncertainty Sparks Selloff — This Level Matters Now – YouTube
Is The Bond Market Finally Right? Guy Adami, Dan Nathan, Liz Thomas,
John Butters (Fact Set)
Is The Bond Market Finally Right? – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 1.20 to 28.60, a 10 month low. It remains Oversold. Daily downtrend was extended.
The short term Barometer (20 days) dropped 0.60 to 18.60, a 10 month low. It remains Oversold. Daily downtrend was extended.
The long term Barometer slipped 0.20 to 48.40. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer dropped 3.22 to 33.18. It remains Oversold. Daily downtrend was extended.
The short term (20 days) Barometer dropped 4.61 to 27.65. It remains Oversold
The long term Barometer dropped 4.61 to 70.51. It remains Overbought. Daily downtrend was extended.
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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Equity Clock Publications