Tech Talk for Tuesday March 13th 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade.

Index futures were moved higher following release of the February Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.2% versus a revised gain of 0.5% in January. Actual was an increase of 0.2%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.3% in January. Actual was an increase of 0.2%.

Dick's Sporting Goods dropped $1.56 to $31.00 after reporting lower than consensus fiscal third quarter revenues.

Qualcomm dropped $2.88 to $59.93 after President Trump blocked a takeover bid by Broadcom. Broadcom added $3.06 to $265.90.

Dollar General (DG $88.61) is expected to open lower after RBC Capital lowered its target price to $101 from $110.

General Electric dropped $0.38 to $14.72 after JP Morgan lowered its target price to $11 from $14.

Jon Vialoux's EquityClock Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/03/12/stock-market-outlook-for-march-13-2018/

Observations

REIT iShares moved above $75.25 completing a double bottom pattern.

'Tis the season for strength in the U.S. REIT sector until early May!

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bullish. Breakouts: $MO $HBAN $ICE $GE $JCI $AVGO, $GLW $$SYMC $PPG $AWK $GS. No breakdowns.

Editor's comment: After 10:00 AM EST, breakouts included CVX, BSX, NVDA, LUV, INFO, GLW, INTU, OI and AIV. Breakdown: SIG.

General Electric $GE, a Dow Jones Industrial stock moved above $15.10 completing a double bottom pattern.

'Tis the season for General Electric $GE to move higher to the end of April!

Goldman Sachs $GS, a Dow Jones Industrial stock moved above $273.02 to an all-time high extending an intermediate uptrend.

Editor's Note: The stock responded to change in management succession

IAMGold $IMG.CA moved below $6.44 extending an intermediate downtrend.

Chevron $CVX, a Dow Jones Industrial stock moved above $118.09 completing a double bottom pattern.

'Tis the season for Chevron $CVX to move higher to the end of April!

Nvidia $NVDA is leading the tech sector with a breakout above $251.81 to an all-time high extending an intermediate uptrend.

'Tis the season for Nvidia to move higher to the end of May!

Encouraging news for Canadian "gassy" stocks! Tourmaline Oil $TOU.CA moved above $20.03 completing a double bottom pattern.

Trader's Corner

Daily Seasonal/Technical Equity Trends for March 12th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for March 12th 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 12th 2018

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blog

Seasonals positive for the loonie, but are they enough? Headline reads, "They must be loonie". Following is a link:

http://www.valuetrend.ca/they-must-be-loonie/

S&P 500 Momentum Barometer

The Barometer slipped 2.80 to 53.20 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer added 2.45 to 39.18 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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