Tech Talk for Wednesday March 9th 2022

U.S. equity index futures were higher this morning. S&P 500 futures were up 77 points in pre-opening trade.

Booking gained $66.47 to $1,966.00 after Oppenheimer upgraded the stock from Perform to Outperform.

Campbell Soup slipped $0.10 to $42.20 after reporting less than consensus fiscal second quarter revenues.

General Electric advanced $1.49 to $89.64 after the company announced a share buyback program valued at $3 billion

EquityClock's Daily Comment

Headline reads "Buying exhaustion becoming apparent in some of this quarter's favored bets". Following is a link:

http://www.equityclock.com/2022/03/08/stock-market-outlook-for-march-9-2022/

Technical Notes released yesterday at

StockTwits.com@EquityClock

S&P 500 Index has broken back below significant support at 4280, reigniting the risk of the completion of the head-and-shoulders topping pattern. equityclock.com/2022/03/07/… $SPX $SPY $ES_F

Gold equity ETF $GDX moved above $39.44 extending an intermediate uptrend.

Wheaton Precious Metals $WPM a TSX 60 stock moved above US$48.60 extending an intermediate uptrend. Seasonal influences are favourable to the end of April. If a subscriber to EquityClock, see charts.equityclock.com/silv…

Technology SPDRs $XLK moved below $141.72 extending a Head & Shoulders pattern.

Amazon $AMZN an S&P 100 stock moved below $2,707.04 extending an intermediate downtrend

Align Technology $ALGN a NASDAQ 100 stock moved below $432.09 extending an intermediate downtrend.

Micron $MU a NASDAQ 100 stock moved below $75.52 extending an intermediate downtrend

Nvidia $NVDA a NASDAQ 100 stock moved below $208.84 extending an intermediate downtrend

Microsoft $MSFT a Dow Jones Industrial Average stock moved below $271.52 extending a Head & Shoulders pattern.

Baidu $BIDU a NASDAQ 100 stock moved below $132.14 extending an intermediate downtrend.

Visa $V a Dow Jones Industrial Average stock moved below $189.79 extending an intermediate downtrend

Dollar Tree $DLTR a NASDAQ 100 stock moved above $149.37 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable to early July. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/dollar-tree-inc-nasdaqdltr-seasonal-chart

Couche Tard $ATD.CA a TSX 60 stock moved below $45.29 extending an intermediate downtrend.

TSX Financials iShares $XFN.CA moved below $49.90 completing a Head & Shoulders pattern.

Royal Bank $RY.CA a TSX 60 stock moved below Cdn$135.38 extending an intermediate downtrend.

SNC Lavalin $SNC.CA a TSX 60 stock moved above $31.33 extending an intermediate uptrend. Seasonal influences are favourable to late June. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/snc-lavalin-group-inc-tsesnc-seasonal-chart

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 8th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for March 8th 2022

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

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)

S&P 500 Momentum Barometers

The intermediate term Barometer dropped another 4.01 to 25.25 yesterday. It remains Oversold, but has yet to show technical signs of a bottom.

The long term Barometer slipped another 1.00 to 36.07 yesterday. It remains Oversold. Downtrend was extended.

TSX Momentum Barometers

The intermediate term Barometer added 2.82 to 54.59 yesterday. It remains Neutral.

The long term Barometer added 0.87 to 57.64 yesterday. It remains Neutral.

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