{"id":174842,"date":"2024-03-20T02:22:00","date_gmt":"2024-03-20T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=174842"},"modified":"2024-03-20T08:51:17","modified_gmt":"2024-03-20T12:51:17","slug":"tech-talk-for-wednesday-march-20th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/03\/20\/tech-talk-for-wednesday-march-20th-2024\/","title":{"rendered":"Tech Talk for Wednesday March 20th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday March 20th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were mixed this morning<\/b>. S&P 500 futures were unchanged at 8:30 AM EDT<\/em><\/p>\n

FOMC announces its interest rate decision at 2:00 PM EDT.<\/b> Consensus calls for no change in the Fed Fund Rate at 5.25%-5.50%. Focus is on comments on timing for an expected reduction in the Rate.<\/em><\/p>\n

Chipotle <\/b>advanced $81.43 to $2,878.99 after announcing a 50 for 1 stock split. <\/em><\/p>\n

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

Intel<\/b> gained $1.42 to $43.47 after receiving $8.5 billion from the U.S. government to build chip factories in the U.S. <\/em><\/p>\n

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General Mills<\/b> gained $1.75 to $70.38 after reporting higher than consensus fiscal third quarter revenues and profits. <\/em><\/p>\n

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BioNTech<\/b> dropped $6.12 to $88.00 after reporting less than consensus fiscal fourth quarter results.<\/em><\/p>\n

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 <\/p>\n

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

Energy SPDRs<\/b> $XLE moved above $91.38 to an all-time high extending an intermediate uptrend. <\/p>\n

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Schlumberger<\/b> $SLB a NASDAQ 100 stock moved above $54.06 extending an intermediate uptrend. <\/p>\n

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Marvell Technologies<\/b> $MRVL a NASDAQ 100 stock moved below intermediate support at $63.53.<\/p>\n

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MercadoLibre <\/b>$MELI a NASDAQ 100 stock moved below $1,483.64 extending an intermediate downtrend.<\/p>\n

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Intel<\/b> $INTC an S&P 100 stock moved below $41.48 extending an intermediate downtrend.<\/p>\n

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Suncor:<\/b> SU.TO a TSX 60 stock moved above Cdn$49.35 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 19th<\/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

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

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

Daily Seasonal\/Technical Commodities Trends for March 19th<\/sup> 2024<\/p>\n

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

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

 <\/p>\n

Sectors Daily Seasonal\/Technical Sector Trends for March 19th<\/sup> 2024<\/strong><\/font><\/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

How Would YOU Rank the Magnificent 7 Stocks? David Keller<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=HxNBGl2C5T0<\/a><\/p>\n

 <\/p>\n

Strength Reverses Ahead of THE FED: Tom Bowley<\/b><\/p>\n

Strength Reverses Ahead of THE FED \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Big Tech Catch-Up Trade: Dan Nathan and Guy Adami<\/b><\/p>\n

Big Tech Catch-Up Trade \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

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The intermediate term Barometer added 2.40 to 74.60. It remains Overbought.<\/p>\n

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The long term Barometer added 2.28 to 80.80. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 4.44 to 65.78. It remains Overbought.<\/p>\n

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

The long term Barometer slipped 0.44 to 66.67. 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 20th U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM EDT FOMC announces its interest rate decision at 2:00 PM EDT. Consensus calls for no change in the Fed Fund Rate at 5.25%-5.50%. Focus is on comments on timing for an expected reduction […]<\/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-174842","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174842","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=174842"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174842\/revisions"}],"predecessor-version":[{"id":174852,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174842\/revisions\/174852"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=174842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=174842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=174842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}