Tech Talk for Thursday March 28th 2019
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.
Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 225,000 from downwardly revised 216,000 last week. Actual was 211,000. Consensus for next estimate of fourth quarter real GDP was a fall to 2.4% from 2.6%. Actual was a drop to 2.2%.
Lululemon (LULU $146.80) is expected to open higher after reporting higher than consensus fourth quarter sales and earnings. The company also offered positive guidance. Stifel Nicolaus raised its target price to $187 from $152.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/03/clip_image0011-9.png "clip_image001[1]")
Dollarama (DOL $35.05) is expected to open higher after raising its dividend.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/03/clip_image0021-13.png "clip_image002[1]")
Microsoft (MSFT $116.77) is expected to open higher after JP Morgan raised its target price to $125 from $115.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/03/clip_image0031-11.png "clip_image003[1]")
Nucor (NUE $57.18) is expected to open higher after announcing plans to build a $1.3 billion steel mill in Kentucky
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/03/clip_image0041-8.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/03/27/stock-market-outlook-for-march-28-2019/
StockTwits released yesterday @EquityClock
Technical action by S&P 500 stocks to 10:15: Quietly bullish. Intermediate breakouts: $T $VZ. No breakdowns.
Editor's Note: After 10:00 AM EDT, no additional breakouts. Breakdown: WDC
Intact Financial $IFC.CA moved above $112.62 to an all-time high extending an intermediate uptrend.
Maple Leaf Foods $MFI.CA moved above $30.28 extending an intermediate uptrend.
Restaurant Brands Int’l $QSR.CA, a TSX 60 stock moved above $86.41 to an all-time high extending an intermediate uptrend.
South Korea iShares $EWY moved below $60.27 extending an intermediate downtrend.
U.S. Healthcare Providers iShares $IHF moved below $163.60 extending an intermediate downtrend
Coal ETF $KOL moved below $13.39 extending an intermediate downtrend.
Cogeco Cable $CCA.CA moved above $86.35 extending an intermediate uptrend.
Trader's Corner.
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for March 27th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 27th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 27th 2019
Green: Increase from previous day
Red: Decrease from previous day
Keith Richard's Blog
Keith says" Why U.S. Banks may be signalling a troubled market". Following is a link:
https://www.valuetrend.ca/why-us-banks-may-be-signalling-a-troubled-market/
http://www.equityclock.com/about/seasonal-advantage-portfolio/
S&P 500 Momentum Barometer
The Barometer fell another 3.20 to 65.00 yesterday. It remains intermediate overbought and trending down.
TSX Momentum Barometer
The Barometer dropped another 4.53 to 65.84 yesterday. It remains intermediate overbought and trending down.
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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