U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade. Investors are responding to the resignation of Gary Cohn, top White House economic advisor.
U.S. equity index futures were virtually unchanged following release of the February ADP employment report at 8:15 AM EST. Consensus was a slip to 203,000 from 234,000 in January. Actual was 235,000.
The Canadian Dollar slipped 0.21 to US 77.36 cents prior to the Bank of Canada's statement on monetary policy at 10:00 AM EST. Canada's overnight lending rate is not expected to change.
Dollar Tree dropped $12.11 to $92.25 after reporting lower than consensus fourth quarter results.
Abercrombie & Fitch added $0.95 to $22.30 after reporting higher than consensus fourth quarter results.
DR Horton (DHI $43.34) is expected to open higher after Wedbush upgraded the stock to Outperform from Neutral.
Jon Vialoux's EquityClock Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/03/06/stock-market-outlook-for-march-7-2018/
Note seasonality charts on Gold, Silver, Natural Gas, Natural Gas Storage, Manufacturing New Orders, Autos & Components, and Brewers
StockTwits released yesterday @EquityClock
Technical action by S&P 500 stocks to 10:00: Quietly bullish. Breakouts: $HPQ $WDC $UHS $CBOE. Breakdown: $DG.
Editor's Note: After 10:00 AM EST, breakouts included K, NDAQ and BLL.
Cenovus Energy $CVE.CA, a TSX 60 stock moved above $10.33 completing a double bottom pattern.
First Majestic Silver $FR.CA moved above $7.69 completing a double bottom pattern.
'Tis the season for First Majestic Silver $FR.CA to move higher to July.
Another silver stock completed a double bottom pattern. Wheaton Metals $WPM moved above $20.18
Trader's Corner
Daily Seasonal/Technical Equity Trends for March 6th 2018
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for March 6th 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 6th 2018
Green: Increase from previous day
Red: Decrease from previous day
S&P Momentum Barometer
The Barometer added 1.20 to 41.80 yesterday. It remains intermediate neutral.
TSX Momentum Barometer
The Barometer gained another 2.44 to 33.74 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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