Tech Talk for Thursday March 10th 2022
U.S. equity index futures were lower this morning. S&P 500 futures were down 34 points at 7:30 AM EST. Index futures responded to failed negotiations between Ukraine and Russia to halt the conflict.
Much of the early advance by the S&P 500 Index can be attributed to overnight news from Amazon. The company announced plans for a 20/1 stock split. The company also announced a $10 billion share buyback program. Amazon gained $234.42 to $3020.00 in overnight trade.
Investors will focus on release of the U.S. February Consumer Price Index at 8:30 AM EST. Consensus is an increase of 0.8% versus a gain of 0.6% in January. Excluding food and energy, consensus is an increase of 0.5% versus a gain of 0.6% in January.
CrowdStrike advanced $21.90 to $191.69 after reporting higher than consensus fiscal fourth quarter adjusted earnings. The company also raised first quarter guidance above consensus.
Technical Notes released yesterday at
Buying exhaustion becoming apparent in some of this quarter's favored bets. equityclock.com/2022/03/08/… $XME $XOP $GDX $GLD $XLP $XLU $XLV
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 9th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 9th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 9th 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 (except TSX)
Links offered by valued providers
Thank you to Mark Bunting and www.uncommonsenseinvestor.com for the following link:
Volatility Happening All at Once After Starting Slowly – Uncommon Sense Investor
"Sell Any Rally" Says Strategist Catching Up to Market Reality – Uncommon Sense Investor
Greg Schnell's Market Buzz discusses "A tough market to trade" Following is a link:
https://www.youtube.com/watch?v=tQqlDrnRGw0
S&P 500 Momentum Barometers
The intermediate term Barometer added 3.41 to 28.66 yesterday. It remains Oversold.
The long term Barometer gained 3.81 to 39.88 yesterday. It remains Oversold.
TSX Momentum Barometers
The intermediate term Barometer added 7.86 to 62.45 yesterday. It changed from Neutral to Overbought on a move above 60.00.
The long term Barometer advanced 4.80 to 62.45 yesterday. It changed from Neutral to Overbought on a move above 60.00.
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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