Tech Talk for Friday March 12th 2021

U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening traded.

Index futures were virtually unchanged following release of the February Producer Price Index at 8:30 AM EST. Consensus was a gain of 0.5% versus an increase of 1.3% in January. Actual was an increase of 0.5%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 1.2% in January. Actual was an increase of 0.2%

The Canadian Dollar added 0.18 tp US79.85 cents following release of Canada's February Employment report at 8:30 AM EST. Consensus was a gain of 75,000 versus a decline of 212,800 in January. Actual was a gain of 259.200. Consensus for the February Unemployment Rate was a drop to 9.2% from 9.4% in January. Actual was a drop to 8.2%

Netflix dropped $7.47 to $515.59 on news that the company is testing a cracking down on password sharing.

Couche Tard gained $0.16 to US$32.65 after JP Morgan upgraded the stock from Neutral to Overweight.

L Brands improved $2.35 to $58.20 after the company raised first quarter guidance, increased its dividend and increase its share buyback program.

Molson Coors (TAP $45.98) is expected to open lower after the company announce disruption of operations triggered by a cyberattack.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/03/11/stock-market-outlook-for-march-12-2021/

Technical Notes for Thursday March 11th

S&P 500 Index (and its related ETF: SPY) moved above 3,950.43 to an all-time high extending an intermediate uptrend.

Russell 2000 iShares (IWM) moved above $230.32 to an all-time high extending an intermediate uptrend.

Europe iShares (IEV) moved above $50.27 to an all-time high extending an intermediate uptrend.

South Africa iShares (EZA) moved above $49.55 extending an intermediate uptrend.

Russia ETF (RSX) moved above $26.29 to an all-time high extending an intermediate uptrend.

Home Construction iShares (ITB) moved above $65.32 to an all-time high extending an intermediate uptrend. Led by DR Horton (DHI on move above $84.20 to an all-time high.

Fiserv (FISV), a NASDAQ 100 stock moved above $125.05 to an all-time high

Oracle dropped $6.57 to $65.55 despite reporting higher than consensus third quarter revenues and earnings. However, cloud revenues were lower than previous guidance.

Linamar (LMN) advanced $8.39 to $88.40 after reporting higher than consensus fourth quarter revenues and earnings. The company also increased its dividend.

TC Energy (TRP), a TSX 60 stock moved above $58.44 resuming an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 11th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for March 11th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 11th 2021

Green: Increase from previous day

Red: Decrease from previous day

The Canadian Technician

Greg Schnell asks, "What happened to retail"? Following is a link:

What Happened To Retail? | The Canadian Technician | StockCharts.com

Changes in Seasonality Ratings

S&P 500 Index changes from Neutral to Positive from March 15th to May 5th

Europe ETFs changes from Negative to Positive from March 15th to May 1st

Grains changes from Positive to Neutral from March 15th to June 15th

TSX Financials changes from Positive to Negative from March 15th to May 15th

Silver changes from Positive in mid-March to Neutral in mid-April

S&P 500 Momentum Barometers

The intermediate Barometer added 1.40to 73.35 yesterday. It remains Overbought.

The long term Barometer gained 1.00 to 85.57 yesterday. It remains Extremely Overbought.

TSX Momentum Barometers

The intermediate Barometer added 1.90 to 72.51 yesterday. It remains Overbought.

The long term Barometer added 1.42 to 78.67 yesterday. It remains Overbought.

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