Texas Instruments (TXN), an S&P 100 stock moved above $181.80 to an all-time high extending an intermediate uptrend.
Pre-opening Comments for Tuesday March 23rd
U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade.
Crude oil dropped $2.45 to US$59.11 per barrel in pre-opening trade. Energy stocks are expected to respond in early trading.
Microsoft added $0.60 to $236.59 after the company confirmed that it is in talks to buy Discord in a deal valued at more than $10 billion.
Discovery dropped $1.95 to $72.70 after UBS downgraded the stock from Neutral to Sell.
Viacom dropped $5.00 to $95.34 after the company announced plans to raise $3 billion through a stock offering.
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/03/22/stock-market-outlook-for-march-23-2021/
Technical Notes for Monday March 22nd
Turkey iShares (TUR) completed a classic Head & Shoulders pattern after breaking though $26.37 and $26.35. Turkey's prime minister fired head of the central bank. Equity prices responded accordingly.
Base Metals iShares (XBM) moved below Cdn$16.89 completing a double top pattern.
Home Depot (HD), a Dow Jones Industrial Average stock moved above $289.26 to an all-time high extending an intermediate uptrend.
Technical score on the Nikkei Average dropped from 4 to -2
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 22th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 22th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 22th 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
S&P 500 Momentum Barometer
The intermediate Barometer added 3.61 to 78.16 yesterday. It remains Overbought.
The long term Barometer added 1.80 to 88.98 yesterday. It remains Overbought.
TSX Momentum Barometer
The intermediate Barometer was unchanged at 72.86 yesterday. It remains Overbought.
The long term Barometer added 0.48 to 79.05 yesterday. It remains Overbought.
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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