Pre-opening Comments for Friday March 7^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points at 8:35 AM EST.

Index futures added 11 points following release of February Non-farm Payrolls at 8:30 AM EST. Consensus was an increase to 170,000 from 143,000 in January. Actual was 151,000. February Unemployment Rate was expected to remain unchanged from January at 4.0%. Actual was an increase to 4.1%. February Average Hourly Earnings were expected to increase 0.3% versus a 0.5% gain in January. Actual was a 0.3% gain.

The Canadian Dollar was unchanged at U.S. 69.75 cents following release of Canada’s February Employment Report at 8:30 AM EST. Consensus was a 20,000 employment increase. Actual was a 1,100 increase Consensus was no change in the unemployment rate at 6.7%. Actual was drop to 6.6%

Walgreens Boots advanced $0.39 to $11.19 after the company announced plans to privatize the company at $11.45 cash per share. Value of the plan is $24 billion.

Gap Stores added $2.58 to $22.06 after the company reported higher than consensus fourth quarter revenues. The company also offered positive guidance.

Broadcom advanced $12.55 to $192.00 after reporting higher than consensus fourth quarter results.

EquityClock’s Market Comment for March 7^th

The colder than average winter weather presents a wildcard in the payroll results, but we know that it has been a positive influence for the price of natural gas, which is entering its period of seasonal strength. See:

https://equityclock.com/2025/03/06/stock-market-outlook-for-march-7-2025/

Technical Notes

China Large Cap iShares $FXI moved above $36.95 to a 42 month high extending an intermediate uptrend.

S&P 500 Index briefly broke below its 200 day moving average at 5,730.75.

S&P 100 and NASDAQ 100 stocks moving below support setting intermediate downtrends included Walt Disney $DIS on a move below $107.69 and $106.19 (completing a Head & Shoulders pattern), Oracle $ORCL on a move below $152.42 (completing a double top pattern), MongoDB $MDB on a move below $214.74 (after reporting disappointing quarterly results) ADP on a move below $300.00, Accenture $ACN on a move below $340.13 and CDW $CDW on a move below $167.87

Gasoline ETN $UGA moved below $58.74 extending an intermediate downtrend

Commerce Bank $CM.TO a TSX 60 stock moved below Cdn$81.26 extending an intermediate downtrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 6^th 2025

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 6^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 6^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

The biggest misstep Trump made with tariffs: Rosenberg

The biggest misstep Trump made with tariffs: Rosenberg – YouTube

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Bank of Canada likely to cut in March and April: strategist – YouTube

The Return of Danny Moses, Market Volatility & Dot Com Bubble Parallels

The Return of Danny Moses, Market Volatility & Dot Com Bubble Parallels – YouTube

Investing narrative has ‘definitely’ changed, says Morgan Stanley’s Aaron Dunn

Investing narrative has ‘definitely’ changed, says Morgan Stanley’s Aaron Dunn – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 3.20 to 42.40. It remains Neutral.

The long term Barometer dropped 3.40 to a 17 month low at 49.60. It remains Neutral. Daily downtrend was extended.

TSX Momentum Barometers

The intermediate term Barometer dropped 2.73 to 41.82. It remains Neutral

The long term Barometer dropped 3.64 to a 16 month low at 50.91. It remains Neutral.

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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