Tech Talk for Friday March 9th 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade.

Equity indices moved higher following release of the February Employment Report at 8:30 AM EST. Consensus for February Non-farm Payrolls was 205,000 versus 239,000 in January. Actual was 313,000. Consensus for February Unemployment Rate was a slip to 4.0% from 4.1% in January. Actual was unchanged at 4.1%. Consensus for February Average Hourly Earnings was an increase of 0.3% versus a gain of 0.3% in January. Actual was a gain of 0.1%.

The Canadian Dollar added 0.29 to 77.83 cents U.S. following release of Canada's February Employment Report at 8:30 AM EST. Consensus for February employment was a gain of 21,000 versus a drop of 80,000 in January. Actual was a gain of 15,400. Consensus for the February Unemployment Rate was unchanged at 5.9%. Actual was a drop to 5.8%.

JP Morgan has taken a more bullish stance on U.S. steel stocks. Akamai, U.S. Steel and Commercial Metals were upgraded. Target on Akamai was raised to $90 from $75. Target on US Steel was boosted to $69 from $48. Target on Commercial Metals was increased to $30 from $24. The steel ETF SLX is expected to open higher.

iShares South Korea ETF gained $0.94 to $74.99 following news of a meeting between President Trump and North Korea's Kim.

Netflix gained $3.42 to $320.42 after Piper Jaffray raised its target price to $360 from $319.

Hasbro fell $3.38 to $90.00 and Mattel dropped $0.75 to $15.22 after Toys R Us announced plans to liquidate its U.S. operations.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/03/08/stock-market-outlook-for-march-9-2018/

Note seasonality charts on Non-farm Payrolls, Initial Jobless Claims and the Insurance industry

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Breakouts: $ECL $PX $NRG $COO $ESRX. Breakdown: $CI

Franco-Nevada $FNV, a TSX 60 stock, moved below $67.90 U.S. extending an intermediate downtrend.

Editor's Note: The stock responded to several target reductions by investment bankers.

Bond ETFs holding support, but negative setups suggest significant downside potential should support break. equityclock.com/2018/03/08/… $TLT $IEF

Trader's Corner

Daily Seasonal/Technical Equity Trends for March 8th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for March 8th 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 8th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P Momentum Barometer

The Barometer added another 4.00 yesterday to 44.80. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer added 2.99 to 35.51 yesterday. It remains intermediate oversold.

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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