Tech Talk for Tuesday March 5th 2019

U.S. equity index futures were slightly higher this morning. S&P 500 futures were up 3 point in pre-opening trade.

The Shanghai Composite added 0.88% to 3,054.25 after the Chinese government lowered its VAT tax on manufactured goods to 13% from 16%. The government predicted economic growth in 2019 at a 6.0-6.5% rate.

Salesforce.com dropped $2.49 to $156.01 after issuing negative guidance.

Kohl's gained $3.25 to $69.72 after reporting higher than consensus fourth quarter earnings. The company also raised its guidance and increase its dividend by 9.8%.

Target added $3.94 to $76.61 after reporting higher than consensus fourth quarter sales and earnings.

Aurora Cannabis (ACB $$9.60 Cdn) is expected to open higher after Cowen initiated coverage with an Outperform and Top Pick rating.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/03/04/stock-market-outlook-for-march-5-2019/

Note seasonality chart on Construction Spending.

StockTwits Released Yesterday @EquityClock

Weakest economic growth in Canada since 2015 and two areas stand out. Subscribe now to learn more: charts.equityclock.com/subs… $STUDY #CDNecon

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakouts: $GOOG $GOOGL $CMG. Breakdown: $FMC

Editor's Note: After 10:00, breakout included LNT and breakdowns included SYMC, MPC, DVA and MOS

Enbridge $ENB.CA moved below $46.47 on delayed start of its Line 3 Replacement Project. Brokers slightly cut target prices

Another Canadian "gassy" stock breakout! Crew Energy $CR.CAmoved above $0.99 completing a base building pattern

Methanex $MX.CA moved above $78.33 completing a reverse Head & Shoulders pattern

Franco-Nevada $FNV $FNV.CA, a TSX 60 stock moved below $73.45 U.S. and $97.83 Cdn completing a double top pattern

Brazil iShares $EWZ moved below $42.05 completing a double top pattern

Early warning signal on U.S. equity indices! Dow Jones Transportation Average and related ETF $IYT moved below their 20 day moving average

South Korea iShares $EWY moved below $62.29 completing a double top pattern

Trader's Corner.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for March 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for March 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

David Chapman's Weekly Comment compliments of www.EnrichedInvesting.com

http://enrichedinvesting.com/wp-content/uploads/2019/03/Riveting-focus-spooked-gold-dangerous-long-humming-weaknesses-Powell-put-no-recession-buyback-view.pdf

Keith Richard's Blog

An update on the Bear-O-Meter

https://www.valuetrend.ca/bear-o-meter-and-the-great-mystery-buyer/

http://www.equityclock.com/about/seasonal-advantage-portfolio/

Update

Favourable seasonal comments were accompanied with favourable technical comments on Enbridge (ENB $46.65) on January 8th when the stock broke above $44.10. Yesterday, the stock broke below its 20 day moving average and support at $46.47. Accordingly, the stock no longer is favoured.

S&P 500 Momentum Barometer

The Barometer dropped 2.40 to 89.20 yesterday. It remains intermediate overbought and has rolled over.

TSX Momentum Barometer

The Barometer slipped another 0.42 to 81.43 yesterday. It remains intermediate overbought and has rolled over.

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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