Tech Talk for Tuesday March 9th 2021
U.S. equity index futures were higher this morning. S&P 500 futures were up 35 points in pre-opening comments.
MasterCard added $4.16 to $375.49 after Mizuho increased its target price from $400 to $430.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/03/clip_image0015-3.png "clip_image001[5]")
Cigna advanced $1.00 to $235.86 after Mizuho raised its target price from $229 to $264.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/03/clip_image0025-2.png "clip_image002[5]")
Oracle increased $0.49 to $72.65 after KeyBanc Capital increased its target price from $70 to $2.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/03/clip_image0035-2.png "clip_image003[5]")
Dicks Sporting Goods dropped $9.03 to $67.65 despite reporting higher than consensus fourth quarter revenues and earnings.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/03/clip_image0045-1.png "clip_image004[5]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/03/08/stock-market-outlook-for-march-9-2021/
Technical Notes for Monday March 8th
Dow Jones Transportation Average and its related ETF: IYT moved to all-time highs in early trade.
Dow Jones Industrial Average and its related ETF: DIA also moved to an all-time high.
TSX Composite Index moved above 18,579.60 to an all-time high extending an intermediate uptrend.
U.S. insurance iShares (IAK) moved above $73.88 to an all-time high extending an intermediate uptrend.
Turkey iShares (TUR) moved below $26.35 completing a Head & Shoulders pattern.
ADP (ADP), a NASDAQ 100 stock moved above $179.46 to an all-time high extending an intermediate uptrend.
Fiserv (FISV), a NASDAQ 100 stock moved above $121.83 extending an intermediate uptrend.
Baidu (BIDU), a NASDAQ 100 stock moved below intermediate support at $230.08
MasterCard (MA), an S&P 100 stock moved above $366.36 to an all-time high extending an intermediate uptrend.
Visa (V), a Dow Jones Industrial Average stock moved above $220.05 to an all-time high extending an intermediate uptrend.
Danaher (DHR), an S&P 100 stock moved below $212.35 completing a double top pattern.
George Weston (WN), a TSX 60 stock moved above $100.92 re-establishing an intermediate uptrend.
Restaurant Brands International (QSR), a TSX 60 stock moved above $82.12 extending an intermediate uptrend.
Canadian oil service stocks are responding to higher Western Canadian crude prices. Nice breakouts yesterday by Precision Drilling and Ensign Energy Services!
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 8th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 8th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 8th 2021
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The intermediate Barometer added 3.41 to 66.13 yesterday. It remains Overbought.
The long term Barometer slipped 1.80 to 80.96 yesterday. It remains Extremely Overbought.
TSX Momentum Barometer
The intermediate Barometer added 1.42 to 66.35 yesterday. It remains Overbought.
The long term Barometer added 0.47 to 74.41 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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