Tech Talk for Tuesday March 30th 2021

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Morning Technical Notes for Tuesday March 30th

Moderna (MRNA), a NASDAQ 100 stock moved below $121.12 setting an intermediate downtrend.

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Silver Miners ETF (SIL) moved below $38.75 extending an intermediate downtrend.

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First Majestic Silver (AG) moved below US$15.13 extending an intermediate downtrend.

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Junior Gold Miners ETF (GDXJ) moved below $44.00 extending an intermediate downtrend.

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Pre-opening Comments for Tuesday March 30th

U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade.

McCormick added $4.00 to $94.13 after reporting higher than consensus quarterly results.

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Roku gained $2.21 to $303.00 after Truist raised its rating from Hold to Buy.

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Texas Instruments advanced $0.27 to $186.45 after KeyBanc Capital upgraded the stock from Sector Weight to Overweight. Target is $225.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/03/29/stock-market-outlook-for-march-30-2021/

Note list of stocks that have gained 100% of the time in April.

Technical Notes for Monday March 29th

Dollar Tree (DLTR), a NASDAQ 100 stock moved above $115.45 extending an intermediate uptrend.

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CVS Health (CVS) moved above $76.38, $76.48 and $76.72 to a four year high extending an intermediate uptrend.

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Healthcare SPDRs (XLV) moved above intermediate resistance at $75.38.

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Healthcare Providers iShares (IHF) moved above $252.27 to an all-time high extending an intermediate uptrend.

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Mondelez (MDLZ), an S&P 100 stock moved above $60.00 to an all-time high extending an intermediate uptrend.

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Utilities SPDRs (XLU) moved above intermediate resistance at $63.71. Utility stocks and ETFs are anticipating favourable news from Biden’s infrastructure spending announcement on Wednesday.

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Exelon (EXS), an S&P 100 stock moved above $43.62 extending an intermediate uptrend.

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Duke Energy (DUK), an S&P 100 stock moved above $96.89 extending an intermediate uptrend.

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Xcel Energy (XEL), a NASDAQ 100 stock moved above intermediate resistance at $67.00.

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 29th 2021

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for March 29th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for March 29th 2021

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Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index

 

S&P 500 Momentum Barometers

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The intermediate Barometer slipped 0.60 to 82.16 yesterday. It remains Extremely Overbought.

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The long term Barometer added 0.80 to 94.39 yesterday. It remains Extremely Overbought.

 

TSX Momentum Barometers

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The intermediate Barometer slipped 2.07 to 65.55 yesterday. It remains Overbought.

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The long term Barometer slipped 0.58 to 77.99 yesterday. It remains Overbought.

 

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




4 Responses to “Tech Talk for Tuesday March 30th 2021”

  1. Ron/BC Says:

    The $Copper stock COPX continues to perform well and has been outperforming $Copper. Would like to see it clear $36 to be more convincing on the short term.

    https://stockcharts.com/h-sc/ui?s=COPX&p=D&yr=2&mn=0&dy=0&id=p98747007595&a=673066422

    https://stockcharts.com/h-sc/ui?s=%24COPPER&p=D&yr=20&mn=0&dy=0&id=p65952146365&a=673066491

  2. Mary Says:

    Ron/BC

    The US infrastructure plan will sure strengthen copper and others metals. Thanks for the chart. This board has been very quiet lately, either all on spring break or busy trading. Good luck trading!

  3. Ron/bc Says:

    Mary

    All I know for sure is that the chart’s technicals are very bullish. All that’s needed to confirm is clearing that downtrendline.
    Too bad about APA breaking down below support.

  4. Ron/BC Says:

    Mary

    Re:#3. APA didn’t actually break support on the close and closed higher on the day. It did break the uptrend line of APA:XOP though, meaning it stopped outperforming the XOP ETF.

    https://stockcharts.com/h-sc/ui?s=APA&p=D&yr=1&mn=6&dy=0&id=p45565867967&a=741058654

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