Tech Talk for Thursday March 3rd 2022
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 7:30 AM EST.
Investors are waiting for the U.S. fourth quarter Non-farm Productivity report to be released at 8:30 AM EST. Consensus calls for a 6.5% increase versus a 6.6% gain in the third quarter.
MGM Resorts International added $0.37 to $44.10 following approval of a $2 billion share buyback program.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/03/clip_image0011-2.png "clip_image001[1]")
Victoria's Secret slipped $0.03 to $54.30 after reporting lower than consensus fourth quarter earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/03/clip_image0021-1.png "clip_image002[1]")
American Eagle Outfitters dropped $1.78 to $19.55 despite reporting higher than consensus fourth quarter results.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/03/clip_image0031-2.png "clip_image003[1]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2022/03/02/stock-market-outlook-for-march-3-2022/
Technical Notes released yesterday at
Price of Oil is reaching significant resistance around the 2014 high, a break of which could further escalate the panic in the equity market and the strain in the economy. equityclock.com/2022/03/01/… $CL_F $USO $DBC #OIL $XLE $XOP $OIL
Citigroup $C an S&P 100 stock moved below $57.14 extending an intermediate downtrend.
Intuitive Surgical $ISRG a NASDAQ 100 stock moved above $294.98 completing a double bottom pattern.
Cadence Design $CDNS a NASDAQ 100 stock moved above intermediate resistance at $154.42. Seasonal influences are favourable to early June. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/cadence-design-systems-inc-nasdcdns-seasonal-chart
BCE Inc. BCE.CA a TSX 60 stock moved above Cdn$68.17 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 2nd 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 2nd 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 2nd 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)
Links from valued providers
Links offered by Mark Bunting and www.uncommonsenseinvestor.com
The US is at war with Russia: 4 scenarios from here – GZERO Media
Hi-Lights from Warren Buffett’s Annual Shareholder Letter – Uncommon Sense Investor
Greg Schnell from www.StockCharts.com focuses on the Commodity Breakout
Commodities Breakout | Greg Schnell, CMT | Your Daily Five (03.02.22) - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer gained 11.82 to 36.67 yesterday. It remains Oversold.
The long term Barometer recovered 7.01 to 46.89 yesterday. It returned to Neutral from Oversold on a move above 40.00.
TSX Momentum Barometers
The intermediate term Barometer added 4.70 to 58.48 yesterday. It remains Neutral.
The long term Barometer added 0.26 to 58.48 yesterday. It remains Neutral.
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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