{"id":174463,"date":"2024-03-06T02:22:00","date_gmt":"2024-03-06T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=174463"},"modified":"2024-03-06T08:48:21","modified_gmt":"2024-03-06T13:48:21","slug":"tech-talk-for-wednesday-march-6th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/03\/06\/tech-talk-for-wednesday-march-6th-2024\/","title":{"rendered":"Tech Talk for Wednesday March 6th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday March 6th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 27 points at 8:30 AM EST.<\/em><\/p>\n

Bank of Canada\u2019s statement on the Bank Rate<\/b> offered to major Canadian banks<\/b> is released at 9:45 AM EST. Press conference is offered at 10:30 AM EST. No change in the lending rate at 5.00% for major Canadian banks is expected.<\/em><\/p>\n

Federal Reserve Chairman Powell<\/b> testifies before Congress at 10:00 AM EST.<\/em><\/p>\n

Beige Book <\/b>summarizing the latest FOMC meeting is released at 2:00 PM EST.<\/em><\/p>\n

Nordstrom<\/b> dropped $2.10 to $18.80 after issuing guidance below consensus.<\/em><\/p>\n

\"clip_image001[5]\"<\/a><\/p>\n

Ross Stores<\/b> dropped $0.85 to $148.32 after lowering guidance below consensus.<\/em><\/p>\n

\"clip_image002[5]\"<\/a><\/p>\n

Crowdstrike<\/b> gained $53.20 to $350.87 after reporting higher than consensus first quarter results. The company also offered positive guidance. <\/em><\/p>\n

\"clip_image003[5]\"<\/a><\/p>\n

Foot Locker<\/b> dropped $3.21 to $31.10 after the company issued guidance below consensus.<\/em><\/p>\n

\"clip_image004[5]\"<\/a><\/p>\n

 <\/p>\n

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

Match<\/b> $MTCH a NASDAQ 100 stock moved below $34.54 setting an intermediate downtrend.<\/p>\n

\"clip_image001\"<\/a><\/p>\n

Nike<\/b> $NKE a Dow Jones Industrial Average stock moved below $98.70 extending an intermediate downtrend. <\/p>\n

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

Workday<\/b> $WDAY a NASDAQ 100 stock moved below $263.88 setting an intermediate downtrend. <\/p>\n

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Pepsico <\/b>$PEP an S&P 100 stock moved below $163.12 setting an intermediate downtrend. <\/p>\n

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T-Mobil<\/b> $TMUS a NASDAQ 100 moved above $165.29 to an all-time high extending an intermediate uptrend.<\/p>\n

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Metlife<\/b> $MET an S&P 100 stock moved above $70.44 extending an intermediate uptrend. <\/p>\n

\"clip_image006\"<\/a><\/p>\n

Restaurant Brands International<\/b> $QSR.TO a TSX 60 stock moved above Cdn$107.08 to an all-time high extending an intermediate uptrend. <\/p>\n

\"clip_image007\"<\/a><\/p>\n

Franco-Nevada<\/b> $FNV.TO a TSX 60 stock moved above Cdn$151.89 completing a base building pattern<\/p>\n

\"clip_image008\"<\/a><\/p>\n

 <\/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 5th<\/sup> 2024<\/p>\n

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

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

Source for all positive seasonality ratings: <\/em>www.EquityClock.com<\/em><\/a><\/p>\n

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for March 5th<\/sup> 2024<\/p>\n

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

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 March 5th<\/sup> 2024<\/p>\n

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

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

Would You Rather Own AMZN or AAPL Stock? David Keller<\/b><\/p>\n

Would You Rather Own AMZN or AAPL Stock? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

LOWER Your Market Expectations For MARCH! Tom Bowley<\/b><\/p>\n

LOWER Your Market Expectations For MARCH! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Unveiling Gold & Bitcoin: What’s Next? Erin Swenlin<\/b><\/p>\n

Unveiling Gold & Bitcoin: What’s Next? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The Most IMPORTANT Trendline in Tech: Dan Nathan and Guy Adami<\/b><\/p>\n

The Most IMPORTANT Trendline in Tech \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 3.00 to 69.00. It remains Overbought.<\/p>\n

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

The long term Barometer dropped 1.80 to 74.80.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped 1.33 to 55.11. It remains Neutral.<\/p>\n

\"clip_image018\"<\/a><\/p>\n

The long term Barometer slipped 0.44 to 63.11. It remains Overbought. <\/p>\n

 <\/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 6th U.S. equity index futures were higher this morning. S&P 500 futures were up 27 points at 8:30 AM EST. Bank of Canada\u2019s statement on the Bank Rate offered to major Canadian banks is released at 9:45 AM EST. Press conference is offered at 10:30 AM EST. No change in […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-174463","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174463","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=174463"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174463\/revisions"}],"predecessor-version":[{"id":174473,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174463\/revisions\/174473"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=174463"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=174463"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=174463"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}