Tech Talk for Thursday March 8th 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.

Index futures were virtually unchanged following release of Weekly Jobless Claims at 8:30 AM EST. Consensus was an increase to 220,000 from 210,000 last week. Actual was 231,000.

The Canadian Dollar was virtually unchanged following release of Canada's February Housing Start report. Consensus was an annualized rate of 218,000 versus 216,182 in January. Actual was 229,000.

The European Central Bank's overnight lending rate was unchanged.

Hess added $1.27 to $47.75 after the company announced a $1 billion share buy back program.

Costco dropped $1.56 to $185.80 after reporting lower than consensus quarterly results. JP Morgan lowered its target price to $206 from $211.

Express Scripts jumped $12.89 to $86.31 after Cigna announced a cash and share offer to acquire the company valued at $96.03 per share.

Kroger dropped $1.32 to $24.91 after reporting lower than consensus fourth quarter results.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/03/07/stock-market-outlook-for-march-8-2018/

Note seasonality charts on the Russell 2000 Index, Crude Oil Days of Supply, Gasoline Days of Supply, Crude Oil and the U.S. Energy sector.

StockTwits @EquityClock comments from yesterday

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Breakouts: $HRB $BHGE $STX. Breakdown: $ROST.

Editor's Note: After 10:00 AM EST breakouts included ESS, AIZ and IT. Breakdowns included PVH, XOM, KR and IP.

Aecon Group $ARE.CA moved below $18.69 extending an intermediate downtrend.

Finning International $FTT.CA moved below $32.06 completing a double top pattern.

Exxon Mobil $XOM, a Dow Jones Industrial stock moved below $73.90 to a 2 year low extending an intermediate downtrend.

S&P 500 continues to battle 50-day moving average; tariffs and employment report ahead. equityclock.com/2018/03/07/… $SPX $SPY $ES_

Kroger $KR completed a Head & Shoulders pattern on a move below $26.51.

Another jump in domestic production keeping oil inventories elevated, now higher than what they were at the end of 2017. $USO $CL_F $XLE

Canadian exports lower by 1.5% in January, imports lower by 3.3%, both falling more than average in first month of year #CDNecon #CAD $MA

Trader's Corner

Daily Seasonal/Technical Equity Trends for March 7th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for March 7th 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 7th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P Momentum Barometer

The Barometer slipped 1.00 to 40.80 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer slipped 1.22 to 32.52 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

Sponsored By...