{"id":164242,"date":"2023-03-08T02:22:00","date_gmt":"2023-03-08T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=164242"},"modified":"2023-03-08T08:42:07","modified_gmt":"2023-03-08T13:42:07","slug":"tech-talk-for-wednesday-march-8th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/03\/08\/tech-talk-for-wednesday-march-8th-2023\/","title":{"rendered":"Tech Talk for Wednesday March 8th 2023"},"content":{"rendered":"

Pre-opening Comments for Wednesday March 8th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 3 points in pre-opening trade. <\/em><\/p>\n

January U.S. Trade<\/b> released at 8:30 AM EST was expected to increase to a deficit of $69.00 billion from a deficit of $67.40 billion in December. Actual was a deficit of $68.3 billion<\/em><\/p>\n

Federal Reserve Chairman Powell testifies<\/b> on monetary policy in front of a House Committee at 10:00 AM EST.<\/em><\/p>\n

Bank of Canada interest rate<\/b> for major Canadian Banks released at 10:00 AM EST is expected to remain unchanged at 4.50%.<\/em><\/p>\n

Crowd Strike added $7.91 to $132.92 <\/b>after reporting higher than consensus fourth quarter revenues. The company also offered positive guidance.<\/em><\/p>\n

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

Casey\u2019s General Stores advanced $6.30 to $216.00<\/b> after reporting higher than consensus fiscal third quarter earnings. <\/em><\/p>\n

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Campbell Soup gained $0.87 to $53.00<\/b> after reporting higher than consensus fiscal second quarter earnings and revenues. The company also raised guidance.<\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cPerformance of Bank stocks suggesting something concerning for the broader market<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/03\/07\/stock-market-outlook-for-march-8-2023\/<\/em><\/a><\/p>\n

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

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

Biogen $BIIB an S&P 100 stock moved below $269.06 completing a double top pattern.<\/p>\n

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Dupont $DD an S&P 500 stock moved below $71.11 completing a short term Head & Shoulders pattern.<\/p>\n

\"clip_image002\"<\/a><\/p>\n

Thomson Reuters $TRI.TO a TSX 60 stock moved above Cdn$167.21 to an all-time high extending an intermediate uptrend. <\/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 March 7th<\/sup> 2023<\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for March 7th<\/sup> 2023<\/p>\n

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

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

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

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

Daily Seasonal\/Technical Sector Trends for March 7th<\/sup> 2023 <\/p>\n

\"clip_image009\"<\/a><\/p>\n

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

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

 <\/p>\n

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

\"clip_image010\"<\/a><\/p>\n

The intermediate term Barometer plunged 13.00 to 37.80. It changed from Neutral to Oversold on a drop below 40.00. Daily trend is down.<\/p>\n

\"clip_image011\"<\/a><\/p>\n

The long term Barometer dropped 5.20 to 57.40. It changed from Overbought to Neutral on a drop below 60.00.<\/p>\n

 <\/p>\n

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

\"clip_image012\"<\/a><\/p>\n

The intermediate term Barometer plunged 8.51 to 46.38. It remains Neutral. Daily trend is down.<\/p>\n

\"clip_image013\"<\/a><\/p>\n

The long term Barometer dropped 2.98 to 62.13. 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 8th U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. January U.S. Trade released at 8:30 AM EST was expected to increase to a deficit of $69.00 billion from a deficit of $67.40 billion in December. Actual was a deficit of […]<\/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-164242","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/164242","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=164242"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/164242\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=164242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=164242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=164242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}