{"id":174539,"date":"2024-03-08T02:22:00","date_gmt":"2024-03-08T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=174539"},"modified":"2024-03-08T08:55:46","modified_gmt":"2024-03-08T13:55:46","slug":"tech-talk-for-friday-march-8th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/03\/08\/tech-talk-for-friday-march-8th-2024\/","title":{"rendered":"Tech Talk for Friday March 8th 2024"},"content":{"rendered":"

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

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

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 8 points at 8:35 AM EST.<\/em><\/p>\n

Index futures advanced 14 points following release of the February Non-farm Payrolls<\/b> at 8:30 AM EST. Consensus was a drop to 198,000 from a downwardly revised 229,000 in January. Actual was 275,000 Consensus for the February Unemployment Rate was unchanged from January at 3.7%. Actual was an increase to 3.9%. <\/em><\/p>\n

The Canadian Dollar added 0.06 to US74.40 cents following release of the February Canadian Employment Report<\/b> at 8:30 AM EST. Consensus was a 21,100 increase in employment versus a 37,300 increase in January. Actual was an increase of 40,700. Consensus for the Unemployment Rate was an increase to 5.8% from 5.7% in January. Actual was an increase to 5.8%.<\/em><\/p>\n

Marvell Technology<\/b> dropped $7.93 to $77.00 after offering a fiscal first quarter outlook that was less than consensus. <\/em><\/p>\n

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

Docusign<\/b> advanced $6.94 to $$60.50 after reporting a fourth quarter revenue and earnings beat. <\/em><\/p>\n

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Broadcom <\/b>dropped $47.01 to $1,360 after reporting less than consensus quarterly results. <\/em><\/p>\n

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 <\/p>\n

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

Australia iShares<\/b> $EWA moved above $24.67 extending an intermediate uptrend. <\/p>\n

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Copper Miners ETF<\/b> $COPX moved above $38.64 setting an intermediate uptrend. <\/p>\n

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Oil Services ETF<\/b> $OIH moved above intermediate resistance at $308.61,<\/p>\n

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Micron <\/b>$MU a NASDAQ 100 stock moved above $97.02 to an all-time high extending an intermediate uptrend. <\/b><\/p>\n

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

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

Starbucks<\/b> $SBUX a Dow Jones Industrial Average stock moved below $90.85 setting an intermediate downtrend. <\/p>\n

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Baidu<\/b> $BIDU a NASDAQ 100 stock moved below $97.51 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 7th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/font><\/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 7th<\/sup> 2024<\/p>\n

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

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for March 7th<\/sup> 2024<\/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

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

AAPL and TSLA Stocks Are COLLAPSING! David Keller<\/b><\/p>\n

AAPL and TSLA Stocks Are COLLAPSING! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Unexpected Stock Rally Predicted Due to Falling Yields: Tom Bowley<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=oy25JpU27sk<\/a><\/p>\n

 <\/p>\n

Stock Market Rally Can\u2019t Stop Won\u2019t Stop: Guy Adami, Dan Nathan and Carter Worth<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=wEVDqgvmWvY<\/a><\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 2.20 to 75.80. It remains Overbought.<\/p>\n

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

The long term Barometer added 1.80 to 78.80. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

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

The intermediate term Barometer added 6.22 to 68.44. It remains Overbought.<\/p>\n

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

The long term Barometer added 4.00 to 68.89. 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 Friday March 8th U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points at 8:35 AM EST. Index futures advanced 14 points following release of the February Non-farm Payrolls at 8:30 AM EST. Consensus was a drop to 198,000 from a downwardly revised 229,000 in January. Actual […]<\/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-174539","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174539","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=174539"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174539\/revisions"}],"predecessor-version":[{"id":174547,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174539\/revisions\/174547"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=174539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=174539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=174539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}