Tech Talk for Wednesday March 29th 2023
U.S. equity index futures moved higher in overnight trade. S&P 500 futures were up 32 points at 8:30 AM EDT.
The Canadian Dollar was virtually unchanged at US73.51 cents following release of the Canadian budget at 4:00 PM EDT yesterday.
Micron added $1.25 to $60.53 after JP Morgan raised its target price from $65 to $75.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/03/clip_image0011-17.png "clip_image001[1]")
Lulu lemon advanced $40.04 to $360.35 after reporting higher than consensus fiscal fourth quarter revenues and earnings. The company also offered positive first quarter guidance.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/03/clip_image0021-17.png "clip_image002[1]")
Carnival Corp. advanced $0.22 to $9.55 after the stock was upgraded by Susquehanna and Wells Fargo.
Microsoft added $2.32 to$277.55 after KeyBanc Capital raised its target price from $270 to $316.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/03/clip_image0041-9.png "clip_image004[1]")
EquityClock's Daily Comment
Headline reads "The potential of a head-and-shoulders bottoming pattern for Chinese internet stocks suggests that the worst for prices in this industry may have past".
http://www.equityclock.com/2023/03/28/stock-market-outlook-for-march-29-2023/
Technical Notes
CGI Group $GIB, a TSX 60 stock moved above US$94.00 to an all-time high extending an intermediate uptrend.
Metro $MRU.TO, a TSX 60 stock moved above intermediate resistance at $71.94
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 28th 2023
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 28th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 28th 2023
Green: Increase from previous day
Red: Decrease from previous day
Source for positive Seasonal ratings: www.equityclock.com
Links offered by valued providers
Internet Stocks Providing Leadership | Tom Bowley | Trading Places (03.28.23)
Internet Stocks Providing Leadership | Tom Bowley | Trading Places (03.28.23) - YouTube
Big Move Brewing For S&P | Leslie Jouflas, CMT | March 28, 2023
Big Move Brewing For S&P | Leslie Jouflas, CMT | March 28, 2023 - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 1.60 to 26.20. It remains Oversold. Evidence of a bottom on March 15th continues to grow.
The long term Barometer added 1.60 to 47.20. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer added 0.85 to 35.04. It remains Oversold. Evidence of a bottom on March 16th continues to grow.
The long term Barometer was unchanged at 55.55. It remains Neutral.
Disclaimer: Seasonality ratings 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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