Tech Talk for Friday March 16th 2018

Today is Quadruple Witching Day on Wall Street: the last trade day for March index and equity options and futures

U.S. equity index futures were mixed this morning. S&P 500 futures were up 1 point in pre-opening trade.

Index futures were virtually unchanged following release of the U.S. February Housing Starts report. Consensus was a drop to 1.264 million units from 1.329 million units in January. Actual was 1.236 million units

Adobe gained $8.88 to $227.70 after reporting higher than consensus quarterly earnings. Stiffel raised its target price to $250 from $230.

Avery Dennison dropped $0.68 to $114.15 after JP Morgan downgraded the stock to underperform from neutral. Target was reduced to $107 from $113.

International Flavours and Fragrances (IFF $139.03) is expected to open lower after JP Morgan downgraded the stock to underperform from neutral. Target was reduced to $130 from $140.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/03/15/stock-market-outlook-for-march-16-2018/

Note seasonality charts on the Philly Fed Index, Empire State Manufacturing Survey and British Pound.

StockTwits Released Yesterday @EquityClock

Another U.S. REIT completed a double bottom pattern. $AVB moved above $163.65. 'Tis the season for strength to early May!

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Breakouts: $AVB $ALXN $LNT. No breakdowns.

Editor's Note: After 10:00 AM EST, no additional breakouts. Breakdowns: $MON $WMB

Coffee ETN $JO moved below $14.46 to an all-time low extending an intermediate downtrend.

Regional manufacturing surveys suggesting strong conditions this spring. Philly Fed and Empire State well above average. #Economy $MACRO

BMO Equal Weight Banks ETF $ZEB.CA moved above $29.65 re-establishing an intermediate uptrend.

Editor's Note: Ditto for the TSX Financials Index!

Trader's Corner

Daily Seasonal/Technical Equity Trends for March 15th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for March 15th 2018

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for March 15th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped another 1.20 to 45.40 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer added another 1.22 to 41.63 yesterday. It remains intermediate neutral.

Disclaimer: Seasonality and technical ratings offered in this report and at

www.equityclock.com 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

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