Tech Talk for Tuesday March 20th 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade.

The Federal Reserve Open Market Committee meets today and tomorrow to examine U.S. monetary policy.

Oracle plunged $4.56 to $47.39 after reporting lower than consensus fiscal third quarter revenues. The company also lowered its guidance. Stifel Nicolaus downgraded the stock to Hold from Buy.

PPG Industries (PPG $113.22) is expected to open higher after Deutsche Bank upgraded the stock to Buy from Hold.

FedEx gained $1.75 to $251.36 on news that its plans to launch 500 locations in U.S. Wal-mart stores.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/03/19/stock-market-outlook-for-march-20-2018/

Note seasonality charts on the Technology sector, U.S. Housing Starts, Job Openings and Industrial Production.

Observations

U.S. equity markets were de-FAANGed yesterday (Facebook, Amazon, Apple, Netflix, Google/Alphabet). They led U.S. equity markets on the downside. The VIX Index responded by jumping 3.68 to 19.48 (23.29%). Technical selling further was triggered by drops by equity indices and sectors below their 20 day moving average.

StockTwits Released Yesterday @EquityClock

Coal ETF $KOL completed a double top pattern on a move below $16.14.

Technical action by S&P 500 stocks to 10:00: Quiet. No intermediate breakouts. Breakdowns: $$CMCSA $AET.

Editor's Note: After 10:00 AM EST, North American equity indices further deteriorated. Intermediate breakout: EXC. Breakdowns: MNK, CERN, BEN, CBS, GIS, BIIB, DWDP and CTL

Broadly based North American equity indices move below their 20 day moving average: $SPX $TSX $INDU $COMPQ $RUT $SPTSE

Uranium ETF $URA moved below $12.50 extending an intermediate downtrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for March 19th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for March 19th 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 19th 2018

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blog

Following is a link:

http://www.valuetrend.ca/musings/

S&P 500 Momentum Barometer

The Barometer plunged 8.40 to 42.80 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer added another 0.82 to 42.21 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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