Tech Talk for Thursday March 26th 2020

U.S. equity index futures were lower this morning. S&P 500 futures were down 43 points in pre-opening trade.

Index futures recovered slightly following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was a jump to 1,500,000 from 281,000 last week. Actual was 3,283,000. Consensus for third estimate of fourth quarter GDP was unchanged from the third quarter at an annual rate of 2.1%. Actual was 2.1%.

Micron added $2.03 to $44.53 after reporting higher than consensus fiscal second quarter revenues.

Bristol-Myers Squibb (BMY $49.35) is expected to open higher after receiving FDA approval for a new MS drug.

Alphabet slipped $1.62 to $1,100.00 after SunTrust lowered its target price from $1600 to $1350.

Ford dropped $0.31 to $5.08 after Standard & Poor's lowered its debt rating to junk status.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/03/25/stock-market-outlook-for-march-26-2020/

Note seasonality charts on Durable Goods Orders and U.S. crude oil inventories.

StockTwits released yesterday @EquityClock

Production of gasoline has completely fallen off the pace of the seasonal norm in the latest week as product supplied of the commodity also plummets. $USO $UGA $XLE $XOP

Coffee ETN $JJOFF moved above $11.11 setting an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for March 25th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for March 25th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 25th 2020

Green: Increase from previous day

Red: Decrease from previous day

Greg Schnell's Market Buzz

Greg asks, "A rally of significance"? Following is a link:

https://www.youtube.com/watch?v=nan6ciqmcE8&feature=youtu.be

S&P 500 Momentum Barometer

The Barometer slipped 0.40 to 1.20 yesterday. It remains deeply intermediate oversold.

TSX Momentum Barometer

The Barometer gained 1.30 to 5.65 yesterday. It remains deeply intermediate oversold and are starting to show significant 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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