Tech Talk for Tuesday March 2nd 2021

U.S. equity index futures were slightly lower this morning. S&P 500 futures were down 7 points in pre-opening trade.

The Canadian Dollar was virtually unchanged at US78.92 cents following release of Canada's GDP in December. Consensus was an increase of 0.3% versus a gain of 0.8% in November. Actual was an increase of 0.1%

Zoon (ZM) advanced $32.34 to $442.00 after reporting higher than consensus fourth quarter revenues.

Novavax (NVAX) dropped $11.28 to $229.01 after the company reported a fourth quarter loss.

Michaels (MIK) added $1.85 to $16.85 on street rumors that the company plans to "go private".

American Eagle Outfitters (AEO) added $0.03 to $26.23 after Wedbush raised its target price from $22 to $30.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/03/01/stock-market-outlook-for-march-2-2021/

Technical Notes for Monday

Surprisingly few technical breakouts or breakdowns yesterday among big cap Canadian and U.S. equities and actively traded ETFs!

Power Corp (POW), a TSX 60 stock moved above $31.71 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 1st 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for March 1st 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 1st 2021

Green: Increase from previous day

Red: Decrease from previous day

Change in Seasonality Rating

Dow Jones Transportation Average changes from Neutral to Positive until May 5th

S&P 500 Momentum Barometers

The intermediate Barometer advanced 9.22 to 64.73 yesterday. It changed from Neutral to Overbought on a return above 60.00.

The long term Barometer added 4.21 to 84.17 yesterday. It changed from Overbought to Extremely Overbought on a return above 80.00.

TSX Momentum Barometers

The intermediate Barometer added 6.76 to 61.35 yesterday. It changed from Neutral to Overbought on a return above 60.00.

The long term Barometer added 0.67 to 72.95 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