{"id":174502,"date":"2024-03-07T02:22:00","date_gmt":"2024-03-07T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=174502"},"modified":"2024-03-07T08:57:13","modified_gmt":"2024-03-07T13:57:13","slug":"tech-talk-for-thursday-march-7th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/03\/07\/tech-talk-for-thursday-march-7th-2024\/","title":{"rendered":"Tech Talk for Thursday March 7th 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday March 7th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 20 points at 8:30 AM EST.<\/em><\/p>\n

European Central Bank<\/b> announced at 8:15 AM EST an extension of its lending rate to major banks at 4.50%.<\/em><\/p>\n

Victoria\u2019s Secret<\/b> dropped $4.42 to $21.20 after forecasting fiscal first quarter revenues below consensus.<\/em><\/p>\n

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

Big Lots<\/b> dropped $0.34 to $4.69 after reporting a widening fourth quarter loss.<\/em><\/p>\n

\"clip_image002[1]\"<\/a><\/p>\n

Ciena <\/b>dropped $6.05 to $55.91 after reporting a revenue decline in its fiscal first quarter.<\/em><\/p>\n

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Kroger<\/b> added $2.51 to $53.00.after reporting higher than consensus fourth quarter revenues.<\/em><\/p>\n

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 <\/p>\n

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

Consumer Staples<\/b> SPDRs <\/b>$XLP <\/b>moved above $75.31 extending an intermediate uptrend. <\/p>\n

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Palladium<\/b> ETN $PALL moved above $91.62 completing a short term reverse Head & Shoulders pattern<\/p>\n

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IBM $<\/b>IBM a Dow Jones Industrial Average stock moved above $195.12 to an all-time high extending an intermediate uptrend. <\/p>\n

\"clip_image003\"<\/a><\/p>\n

Wells Fargo<\/b> $WFC an S&P 100 stock moved above $56.98 to an all-time high extending an intermediate uptrend. <\/p>\n

\"clip_image004\"<\/a><\/p>\n

Bristol-Myers<\/b> $BMY an S&P 100 stock moved above $52.84 completing a double bottom pattern.<\/p>\n

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Vertex Pharma <\/b>$VRTX a NASDAQ 100 stock moved below $410.80 completing a double top pattern<\/p>\n

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

Tesla <\/b>$TSLA a NASDAQ 100 stock moved below $175.01 extending 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 March 6th<\/sup> 2024<\/p>\n

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

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

Red: Decrease from previous day<\/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 6th<\/sup> 2024<\/p>\n

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

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

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

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

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

Daily Seasonal\/Technical Sector Trends for March 6th<\/sup> 2024<\/p>\n

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

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

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

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

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

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

The intermediate term Barometer added 4.60 to 73.60. It remains Overbought.<\/p>\n

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

The long term Barometer added 2.20 to 77.00. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 7.11 to 62.22. It changed from Neutral to Overbought on a move above 60.00.<\/p>\n

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

The long term Barometer added 1.78 to 64.89. 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 Thursday March 7th U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points at 8:30 AM EST. European Central Bank announced at 8:15 AM EST an extension of its lending rate to major banks at 4.50%. Victoria\u2019s Secret dropped $4.42 to $21.20 after forecasting fiscal first quarter […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-174502","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174502","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=174502"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174502\/revisions"}],"predecessor-version":[{"id":174512,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174502\/revisions\/174512"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=174502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=174502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=174502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}