Tech Talk for Tuesday March 26th 2019
U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade.
Index futures were virtually unchanged following release of the February Housing Starts report at 8:30 AM EDT. Consensus was a slip to 1.218 million units from upwardly revised 1.270 million units in January. Actual was 1.162 million units.
Bed Bath & Beyond gained $2.56 to $16.42 after Raymond James upgraded the stock to Strong Buy from Buy. According to the Wall Street Journal, three activist investors are looking to replace the Board of Directors.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/03/clip_image0011-8.png "clip_image001[1]")
Merck (MRK $82.35) is expected to open higher after JP Morgan raised its target price to $85 from $80.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/03/clip_image0021-12.png "clip_image002[1]")
NVidia (NVDA $173.78) is expected to open higher after Pipe Jaffray initiated coverage with an Overweight rating.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/03/clip_image0031-10.png "clip_image003[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/03/25/stock-market-outlook-for-march-26-2019/
Note seasonality chart on U.S. Financials and inverted U.S. Treasury yield curve.
StockTwits released yesterday @EquityClock
Technical action by S&P 500 stocks to 10:00: Quietly bearish. No intermediate breakouts. Breakdowns: $RL $PKG
Editor's Note: After 10:00 AM EDT, breakouts included BF.B and HRL and breakdowns included GS, CNC, NTRS and LYB.
Goldman Sachs $GS, a Dow Jones Industrial stock moved below support at $187.46.
TSX Gold iShares $XGD.CA moved above $12.60 extending an intermediate uptrend.
Barrick Gold $GOLD $ABX.CA, a TSX 60 stock moved above $14.04 and $14.11 U.S. completing reverse Head & Shoulders pattern.
Interfor $IFP.CA moved below $14.42 setting an intermediate downtrend.
Dow Jones Transportation Average $TRAN and its related ETF $IYT moved below 9994.09 setting an intermediate downtrend.
Trader's Corner.
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for March 25th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 25th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 25th 2019
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
Thank you to David Chapman and www.enrichedinvesting.com
Following is a link:
Keith Richard's Blog
Keith says, "Mixed messages on U.S. equity markets" See.
https://www.valuetrend.ca/mixed-messages-tell-us-to-stay-put-for-nowbut-that-could-change/
http://www.equityclock.com/about/seasonal-advantage-portfolio/
S&P 500 Momentum Barometer
The Barometer slipped another 0.40 to 62.40 yesterday. It remains intermediate overbought and trending down.
TSX Momentum Barometer
The Barometer dropped another 2.88 to 64.20 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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