Tech Talk for Friday March 17th 2023
U.S. equity index futures were lower this morning. S&P 500 futures were down 26 points at 8:30 AM EDT.
FedEx advanced $23.55 to $227.60 after reporting higher than consensus fiscal third quarter earnings. The company also raised guidance for the fourth quarter.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/03/clip_image0011-11.png "clip_image001[1]")
Groupon dropped $0.32 to $4.58 after reporting lower than consensus fourth quarter revenues and a larger than consensus fourth quarter loss.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/03/clip_image0021-11.png "clip_image002[1]")
U.S. Steel advanced $1.18 to $25.70 after raising first quarter guidance.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/03/clip_image0031-8.png "clip_image003[1]")
First Republic Bank dropped $5.67 to $28.60 despite arranging a $30 billion financial rescue package.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/03/clip_image0041-5.png "clip_image004[1]")
EquityClock's Daily Comment
Head line reads "Despite the decline in the past week, the path of initial jobless claims is still reminiscent of what is typical at the start of economic recessions".
http://www.equityclock.com/2023/03/16/stock-market-outlook-for-march-17-2023/
Technical Notes
TSX Composite Index briefly moved below intermediate support at 19,159.58
Microsoft $MSFT a Dow Jones Industrial Average stock moved above $276.07 extending an intermediate uptrend.
Regeneron $REGN a NASDAQ 100 stock moved below $733.33 completing a double top pattern.
Soybean ETN $SOYB moved below $27.29 completing a double top pattern.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 16th 2023
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 16th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 16th 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Ideas For Your Potential Buy List | Larry Tentarelli | Your Daily Five (03.16.23)
Ideas For Your Potential Buy List | Larry Tentarelli | Your Daily Five (03.16.23) - YouTube
Wall Street Is Accumulating Growth Stocks | Tom Bowley | Trading Places (03.15.23)
Wall Street Is Accumulating Growth Stocks | Tom Bowley | Trading Places (03.15.23) - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 5.20 to 24.40. It remains Oversold.
The long term Barometer added 4.00 to 44.60. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer added 1.70 to 28.51. It remains Oversold.
The long term Barometer added 4.26 to 52.34. 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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