Tech Talk for Wednesday March 4th 2020

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Pre-opening Comments for Wednesday March 4th

U.S. equity index futures were higher this morning. S&P 500 futures were up 61 points in pre-opening trade.

The Canadian Dollar is up 0.18 to U.S.74.88 cents prior to an announcement at 10:00 AM EST by the Bank of Canada on interest rate policy. Consensus is that the Bank of Canada will reduce its overnight lending rate to major Canadian Banks by at least 0.25% to 1.50%.

Hewlett Packard Enterprises slipped $0.30 to $12.59 after reporting lower than consensus fiscal first quarter revenues. The company also lowered second quarter guidance.

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Urban Outfitters dropped $2.21 to $20.92 after reporting lower than consensus fourth quarter earnings.

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Nordstrom (JWN $33.44) is expected to open lower after reporting lower than consensus fourth quarter revenues and earnings.

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Campbell Soup added $0.08 to $47.96 after reporting higher than consensus adjusted fiscal second quarter earnings. The company also raised guidance.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/03/03/stock-market-outlook-for-march-4-2020/

StockTwits released yesterday @EquityClock

Nil

 

Observation

U.S. Treasury Bond prices and related ETF prices continue to move higher with the news of a 0.50% drop in the Fed Fund Rate.

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for March 3rd 2020

spx march 4

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for March 3rd 2020

crb march 4

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for March 3rd 2020

xlk march 4

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

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Percent of S&P 500 stocks trading above their 50 day moving average dropped 4.41 to 10.22 yesterday. Percent remains intermediate oversold.

 

TSX Momentum Barometer

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Percent of TSX stocks trading above their 50 day moving average increased 3.05 to 23.32 yesterday. Percent remains intermediate oversold and showing signs of reaching a short term bottom.

 

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




One Response to “Tech Talk for Wednesday March 4th 2020”

  1. Ana Says:

    $SPX Futures

    Monthly Support

    https://invst.ly/q0ox-

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