{"id":174895,"date":"2024-03-21T02:22:00","date_gmt":"2024-03-21T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=174895"},"modified":"2024-03-21T08:57:07","modified_gmt":"2024-03-21T12:57:07","slug":"tech-talk-for-thursday-march-21st-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/03\/21\/tech-talk-for-thursday-march-21st-2024\/","title":{"rendered":"Tech Talk for Thursday March 21st 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday March 21st<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 25 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures slipped 2 points following release of the March Philly Fed Index at 8:30 AM EDT<\/b>. Consensus was a drop of 5.0 versus a gain of 5.2 in February. Actual was a gain of 3.2.<\/em><\/p>\n

Micron <\/b>advanced $11.27 to $107.52 after reporting higher than consensus fiscal fourth quarter revenues and earnings. <\/em><\/p>\n

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Five Below<\/b> dropped $27.97 to $181.00 after reporting less than consensus quarterly results. <\/em><\/p>\n

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Chewy<\/b> gained $1.76 to $19.50 after reporting higher than consensus fourth quarter revenues. <\/em><\/p>\n

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Apple<\/b> dropped $2.56 to $176.11 after receiving notice that the Department of Justice plans to file an antitrust violation case against the company today. <\/em><\/p>\n

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 <\/p>\n

Responses to FOMC News released at 2:00 PM EDT<\/strong><\/font><\/p>\n

The FOMC maintained its Fed Fund Rate at 5.25%-5.50%. Comments by Federal Reserve Chairman implied no major change in monetary policy for now.<\/p>\n

U.S. equity indices recorded strong gains. S&P 500, Dow Jones Industrial Average and related ETFs moved to all-time highs.<\/p>\n

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The U.S. Dollar ETN moved lower<\/p>\n

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Ten year Treasury yields moved slightly lower<\/p>\n

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U.S. Money Center Bank ETF moved higher<\/p>\n

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The VIX Index plunged<\/p>\n

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Gold and silver prices soared<\/p>\n

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Base Metals prices moved higher<\/p>\n

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The Canadian Dollar moved higher<\/p>\n

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 <\/p>\n

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

Global Timber & Forest iShares<\/b> $WOOD moved above $82.05 to an all-time high extending an intermediate uptrend. <\/p>\n

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Canadian forest product stocks<\/b> (e.g. Canfor, Interfor, West Traser Timber) were notably higher, up more than 6%.<\/p>\n

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Home Depot<\/b> $HD a Dow Jones Industrial Average stock moved above $382.81 extending an intermediate uptrend.<\/p>\n

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Lowe\u2019s<\/b> $LOW an S&P 100 stock moved above $251.94 to an all-time high extending an intermediate uptrend. <\/p>\n

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General Motors<\/b> $GM an S&P 100 stock moved above $41.80 extending an intermediate uptrend. <\/p>\n

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Gildan Activewear<\/b> $GILTO a TSX 60 stock moved above Cdn$52.16 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 20th<\/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 20th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/b><\/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 20th<\/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

 <\/p>\n

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

Downside Risk in a Bullish Market: David Keller<\/b><\/p>\n

Downside Risk in a Bullish Market \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Crypto Pullback Setups: Landry Light Indicator Explained: Dave Landry<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=5Wp8Ph2Tov4<\/a><\/p>\n

 <\/p>\n

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

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

\"clip_image021\"<\/a><\/p>\n

The intermediate term Barometer added 4.20 to 78.80. It remains Overbought.<\/p>\n

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The long term Barometer added 0.80 to 81.60. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image023\"<\/a><\/p>\n

The intermediate term Barometer added 6.67 to 72.44. It remains Overbought.<\/p>\n

\"clip_image024\"<\/a><\/p>\n

The long term Barometer added 4.00 to 70.67. 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 Thursday March 21st U.S. equity index futures were higher this morning. S&P 500 futures were up 25 points at 8:35 AM EDT. S&P 500 futures slipped 2 points following release of the March Philly Fed Index at 8:30 AM EDT. Consensus was a drop of 5.0 versus a gain of 5.2 in […]<\/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-174895","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174895","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=174895"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174895\/revisions"}],"predecessor-version":[{"id":174913,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/174895\/revisions\/174913"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=174895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=174895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=174895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}