Tech Talk for Friday March 20th 2020
U.S. equity index futures were higher this morning. S&P 500 futures were up 51 points in pre-opening trade.
Today is Quadruple Witching Day, the last trading day for March index and equity listed options and futures.
The Canadian Dollar was unchanged at U.S. 70.03 cents following release of January Canadian Retail Sales at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.2% in December. Actual was an increase of 0.4%.
UnitedHealth Group gained $5.23 to $225.03 after Deutsche Bank upgraded the stock from Hold to Buy.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/03/clip_image0011-3.png "clip_image001[1]")
Nike added $1.16 to $71.50 after Bank of America/Merrill upgraded the stock from Neutral to Buy.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/03/clip_image0021-6.png "clip_image002[1]")
Wal-Mart added $3.74 to $123.19 after announcing plans to hire 150,000 temporary workers.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/03/clip_image0031-1.png "clip_image003[1]")
Oracle improved $1.73 to $46.80 after JP Morgan upgraded the stock from Neutral to Overweight.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/03/19/stock-market-outlook-for-march-20-2020/
Note seasonality charts on Weekly Initial Jobless Claims and the Philly Fed Index.
Observation
The U.S. Dollar Index and its related ETN continue to surge.
By definition, other major currencies are under substantial technical pressure, most notably the Euro on a break below107.82. .
StockTwits released yesterday @EquityClock
Gilead $GILD moved above $82.80 to a 4 year high extending an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for March 19th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for March 19th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 19th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer slipped 2.00 to 2.00 yesterday. It remains deeply intermediate oversold and has yet to show significant technical signs of bottoming.
TSX Momentum Barometer
The Barometer slipped 2.62 to 1.31 yesterday. It remains deeply intermediate oversold and has yet to show significant technical signs of bottoming.
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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