Tech Talk for Wednesday March 24th 2021

Applied Materials (AMAT). a NASDAQ 100 stock moved above $124.26 to an all-time high extending an intermediate uptrend.

Hong Kong iShares (EWH) moved below $26.26 completing a double top pattern.

Seagen (SGEN), a NASDAQ 100 stock moved below $141.50 extending an intermediate downtrend.

U.S. Dollar ETN (UUP) moved above $24.91 extending an intermediate uptrend.

Pre-opening Comments for Wednesday March 24th

U.S. equity Index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade.

Index futures were virtually unchanged following release of the February Durable Goods report at 8:30 AM EDT. Consensus was an increase of 0.4% versus an upwardly revised gain of 3.5% in January. Actual was a drop of 1.1%. Excluding transportation orders, consensus was an increase of 0.6% versus an upwardly revised gain of 1.6% in January. Actual was a drop of 0.9%.

Intel advanced $1.99 to $65.47 after the company announced a $20 billion expansion program.

Adobe (ADBE $460.20) is expected to open higher after reporting higher than consensus quarterly sales and earnings. The company also offered positive guidance.

Game Stop dropped $22.31 to $159.44 after reporting lower than consensus quarterly sales and earnings.

General Mills slipped $1.69 to $59.50 after reporting slightly lower than consensus quarterly sales and earnings.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/03/23/stock-market-outlook-for-march-24-2021/

Technical Notes for Tuesday March 23rd

Texas Instruments (TXN), an S&P 100 stock moved above $181.80 to an all-time high extending an intermediate uptrend.

Base metal stocks and related ETFs are showing technical weakness. Lundin Mining moved below Cdn$13.60 completing a double top pattern. Ditto for Southern Copper on a move below US$70.08! Ditto for Teck Resources on a move below US$20.12! Ditto for Copper Miners ETF on a move below $34.92!

CGI Group (GIB.A), a TSX 60 stock moved above Cdn$104.37 extending an intermediate uptrend.

Australia iShares (EWA) moved below US$24.51 completing a double top pattern.

Consumer Staples SPDRs (XLP) moved above $67.25 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 23rd 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for March 23rd 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 23rd 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 dropped 6.81 to 71.34 yesterday. It remains Overbought and has started to trend down.

The long term Barometer added 0.40 to 89.38 yesterday. It remains Extremely Overbought.

TSX Momentum Barometer

The intermediate Barometer dropped 6.19 to 66.67 yesterday. It remains Overbought and has started to trend down.

The long term Barometer was unchanged yesterday at 79.05. 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