{"id":164049,"date":"2023-03-01T02:22:00","date_gmt":"2023-03-01T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=164049"},"modified":"2023-03-01T08:38:56","modified_gmt":"2023-03-01T13:38:56","slug":"tech-talk-for-wednesday-march-1st-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/03\/01\/tech-talk-for-wednesday-march-1st-2023\/","title":{"rendered":"Tech Talk for Wednesday March 1st 2023"},"content":{"rendered":"

Pre-opening Comments for Wednesday March 1st<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity indices were mixed this morning.<\/b> S&P 500 futures were unchanged in pre-opening trade. <\/em><\/p>\n

<\/em><\/b><\/p>\n

Economic focus today is on the February ISM Manufacturing Purchase Managers Index released at 10:00 AM EST.<\/b> Consensus calls for an increase in the Index to 48.0 from 47.4 in January.<\/em><\/p>\n

The Shanghai Composite Index added 32.74 to an eight month high at 3,312.35<\/b> following release of a positive PMI report.<\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

Monster Beverages dropped $4.79 to $96.97<\/b> after the company reported less than consensus fourth quarter revenues and earnings. <\/em><\/p>\n

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HP Inc added $0.66 to $30.18<\/b> despite reporting weaker than consensus fiscal first quarter results. The company maintained its fiscal 2023 outlook.<\/em><\/p>\n

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Royal Bank is expected to open higher <\/b>after reporting higher than consensus fiscal first quarter earnings.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n

Headline reads \u201cThe S&P 500 Index has averaged a gain of 1.0% in the month of March with 60% of periods over the past two decades closing higher<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/02\/28\/stock-market-outlook-for-march-1-2023\/<\/em><\/a><\/p>\n

<\/em><\/p>\n

Technical Notes<\/strong><\/font><\/p>\n

Corn ETN $CORN moved below $25.46 setting an intermediate downtrend.<\/p>\n

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U.S. Healthcare Providers iShares $IHf moved below $256.47 and $256.31 extending an intermediate downtrend. <\/p>\n

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CVS Health $CVS an S&P 100 stock moved below $84.60 extending an intermediate downtrend. <\/p>\n

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Pfizer $PFE a Dow Jones Industrial Average stock moved below $40.72 extending an<\/p>\n

intermediate downtrend. <\/p>\n

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Copart $CPRT a NASDAQ 100 stock moved above $70.93 extending an intermediate uptrend.<\/p>\n

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Kinder Morgan $KMI an S&P 100 stock moved below $17.13 completing a double top pattern.<\/p>\n

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Brookfield Infrastructure $BIP a TSX 60 stock moved below US$32.94 setting an intermediate downtrend.<\/p>\n

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 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for Feb.28th<\/sup> 2023<\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/em><\/p>\n

 <\/p>\n

Commodities<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Commodities Trends for Feb.28th<\/sup> 2023<\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

 <\/p>\n

Sectors<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Sector Trends for Feb.28th<\/sup> 2023 <\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

 <\/p>\n

Links offered by valued providers<\/strong><\/font><\/p>\n

Seasonality Nails The February Action | Tom Bowley<\/font><\/em><\/strong> | Trading Places (02.28.23)<\/p>\n

Seasonality Nails The February Action | Tom Bowley | Trading Places (02.28.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

<\/b><\/p>\n

There are a lot of reasons we could see a momentous mega cap rally, says G Squared’s Victoria Greene<\/font><\/em><\/strong><\/p>\n

There are a lot of reasons we could see a momentous mega cap rally, says G Squared’s Victoria Greene \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image014\"<\/a><\/p>\n

The intermediate term Barometer dropped 4.20 to 43.40. It remains Neutral. Downtrend was extended.<\/p>\n

\"clip_image015\"<\/a><\/p>\n

The long term Barometer dropped 2.00 to 57.80. It remains Neutral. Downtrend was extended.<\/p>\n

 <\/p>\n

TSX Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image016\"<\/a><\/p>\n

The intermediate term Barometer dipped 0.85 to 50.64. It remains Neutral.<\/p>\n

\"clip_image017\"<\/a><\/p>\n

The long term Barometer slipped 0.43 to 60.43. It remains Overbought.<\/p>\n

<\/b><\/p>\n

Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/em><\/a> 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<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Wednesday March 1st U.S. equity indices were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Economic focus today is on the February ISM Manufacturing Purchase Managers Index released at 10:00 AM EST. Consensus calls for an increase in the Index to 48.0 from 47.4 in January. The Shanghai Composite […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-164049","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/164049","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/comments?post=164049"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/164049\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=164049"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=164049"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=164049"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}