Tech Talk for Friday March 4th 2022

U.S. equity index futures were lower this morning. S&P 500 futures were down 23 points in pre-opening trade. Index futures responded to weakness in European equity indices related to the expanding Ukraine conflict. Tensions escalated last night after Russian troops took control of Europe's largest nuclear power complex located in south Ukraine.

U.S. equity index futures recovered following release of the U.S. February Employment Report at 8:30 AM EST. Consensus for February Non-farm Payrolls was an increase of 438,000 versus a gain of 467,000 in January. Actual was an increase of 678,000. Consensus for February Unemployment Rate was 3.9% versus 4.0% in January. Actual was 3.8%. Consensus for February Average Hourly Earnings was an increase of 0.6% versus a gain of 0.7% in February. Actual was unchanged from January.

Gap Stores advanced $2.35 to $16.60 after the company offered strong first quarter earnings guidance.

Costco slipped $9.01 to $524.04 after the company reported a slowdown in fiscal second quarter sales growth.

Marvell Technology added $0.02 to 65.22 after reporting a 68% increase in fourth quarter revenues

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2022/03/03/stock-market-outlook-for-march-4-2022/

Greg Schnell Comment

Greg says "It's been a couple of months to remember". See:

It’s Been A Couple Of Months To Remember | The Canadian Technician | StockCharts.com

Technical Notes released yesterday at

StockTwits.com@EquityClock

A weak February for vehicle sales in the US presents neither a bullish nor bearish backdrop to stocks in the auto industry. equityclock.com/2022/03/02/… $CARZ $F $GM $TM $HMC $TSLA

Agribusiness ETF $MOO moved above $98.48 to an all-time high extending an intermediate uptrend.

BMO Equal Weight Base Metals ETF $ZMT.CA moved above $64.64 to an all-time high extending an intermediate uptrend.

Verizon $VZ a Dow Jones Industrial Average stock moved above $54.83 extending an intermediate uptrend.

Union Pacific $UNP an S&P 100 stock moved above $254.86 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable to the end of May. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/union-pacific-corporation-nyseunp-seasonal-chart

Berkshire Hathaway $BRK.B an S&P 100 stock moved above $325.63 to an all-time high extending an intermediate uptrend.

Kinder Morgan $KMI an S&P 100 stock moved above $18.41 to a two year high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 3rd 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for March 3rd 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 3rd 2021

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 1.20 to 35.47 yesterday. It remains Oversold.

The long term Barometer eased 0.20 to 46.69 yesterday. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer eased 0.08 to 58.41 yesterday. It remains Neutral.

The long term Barometer gained 1.69 to 60.18 yesterday. It changed from Neutral to Overbought on a move above 60.00.

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