{"id":193083,"date":"2026-03-01T17:53:16","date_gmt":"2026-03-01T22:53:16","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=193083"},"modified":"2026-03-02T08:47:25","modified_gmt":"2026-03-02T13:47:25","slug":"tech-talk-for-monday-march-2nd-2026","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2026\/03\/01\/tech-talk-for-monday-march-2nd-2026\/","title":{"rendered":"Tech Talk for Monday March 2nd 2026"},"content":{"rendered":"

Pre-opening Comments for Monday March 2nd<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures moved lower in response to start of the war on Iran<\/b>. S&P 500 futures were down 68 points at 8:30 AM EST.<\/em><\/p>\n

Crude oil<\/b> responded to the conflict by advancing $5.25 to $72.72 per barrel.<\/em><\/p>\n

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Gold<\/b> responded to the conflict by advancing $170.10 to $5,415.00 per ounce.<\/em><\/p>\n

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Airline ETF<\/b> (JETS) responded to the conflict by dropping $1.10 to $27.35<\/em><\/p>\n

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U.S. Aerospace & Defense iShares<\/b> (ITA) responded to the conflict by adding $5.88 to $249.60.<\/em><\/p>\n

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EquityClock\u2019s Market Outlook for March 2nd<\/sup><\/strong><\/font><\/em><\/p>\n

The S&P 500 Index has averaged a return of 1.0% in March with a gain frequency of 64%. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2026\/02\/27\/stock-market-outlook-for-march-2-2026\/<\/em><\/a><\/p>\n

Technical Scoop for March 2nd<\/sup><\/font> from David Chapman and <\/strong><\/font><\/em>www.EnrichedInvesting.com<\/strong><\/font><\/em><\/a><\/p>\n

Bomb ripples, embargo strandings, commodity divergence, US down, Canada up, MAG7 rotation. See:<\/em><\/b><\/p>\n

https:\/\/enrichedinvesting.com\/library\/<\/em><\/a><\/p>\n

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The Bottom Line<\/strong><\/font><\/p>\n

World equity markets are expected to open lower<\/b> following start of U.S. and Israel military attacks on Iran on Saturday and subsequent retaliation by Iran. The S&P 500 Index is expected to test short term support at 6,775.50 at the opening. U.S. Aerospace & Defense ETFs (e.g. PPA and ITA) are expected to test all-time highs at the opening<\/a>.<\/p>\n

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Precious metal prices and related equities and ETFs (e.g., GDX in U.S. Dollars and XGD.TO in Canadian Dollars) are expected to open higher, extending all-time highs.<\/b><\/p>\n

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Crude Oil prices are expected to spike higher at the opening on concern that the Gulf of Hormuz could be blocked by Iran. For background, see: <\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=03BKPdjLZNI<\/a><\/p>\n

Higher gold and crude oil prices are expected to boost Canadian energy and precious metals equity and ETF prices at the opening. <\/b><\/p>\n

According to www.EquityClock.com<\/a>, the TSX Composite has a history of reaching a high for the year relative to the S&P 500 Index in the first week in March. <\/b>Congratulations to investors who took advantage of the seasonal trade this year! From December 15th<\/sup>, 2025 to February 27th<\/sup> this year, the TSX Index gained 9.1% while the S&P 500 gained only 0.9%.<\/p>\n

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Earnings and Revenues Consensus for S&P 500 Companies<\/strong><\/font><\/p>\n

Source: www.factset.com<\/a><\/p>\n

Analyst earnings and revenue estimates for the fourth quarter increased once again from two weeks ago: <\/b>96% of companies have reported quarterly results to date.<\/p>\n