Pre-opening Comments for Wednesday March 1st
U.S. equity indices were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.
Economic focus today is on the February ISM Manufacturing Purchase Managers Index released at 10:00 AM EST. Consensus calls for an increase in the Index to 48.0 from 47.4 in January.
The Shanghai Composite Index added 32.74 to an eight month high at 3,312.35 following release of a positive PMI report.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/03/clip_image0011.png "clip_image001[1]")
Monster Beverages dropped $4.79 to $96.97 after the company reported less than consensus fourth quarter revenues and earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/03/clip_image0021.png "clip_image002[1]")
HP Inc added $0.66 to $30.18 despite reporting weaker than consensus fiscal first quarter results. The company maintained its fiscal 2023 outlook.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/03/clip_image0031.png "clip_image003[1]")
Royal Bank is expected to open higher after reporting higher than consensus fiscal first quarter earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/03/clip_image0041.png "clip_image004[1]")
EquityClock’s Daily Comment
Headline reads “The S&P 500 Index has averaged a gain of 1.0% in the month of March with 60% of periods over the past two decades closing higher”.
http://www.equityclock.com/2023/02/28/stock-market-outlook-for-march-1-2023/
Technical Notes
Corn ETN $CORN moved below $25.46 setting an intermediate downtrend.
U.S. Healthcare Providers iShares $IHf moved below $256.47 and $256.31 extending an intermediate downtrend.
CVS Health $CVS an S&P 100 stock moved below $84.60 extending an intermediate downtrend.
Pfizer $PFE a Dow Jones Industrial Average stock moved below $40.72 extending an
intermediate downtrend.
Copart $CPRT a NASDAQ 100 stock moved above $70.93 extending an intermediate uptrend.
Kinder Morgan $KMI an S&P 100 stock moved below $17.13 completing a double top pattern.
Brookfield Infrastructure $BIP a TSX 60 stock moved below US$32.94 setting an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Feb.28th 2023
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Feb.28th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Feb.28th 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Seasonality Nails The February Action | Tom Bowley | Trading Places (02.28.23)
Seasonality Nails The February Action | Tom Bowley | Trading Places (02.28.23) – YouTube
There are a lot of reasons we could see a momentous mega cap rally, says G Squared’s Victoria Greene
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 4.20 to 43.40. It remains Neutral. Downtrend was extended.
The long term Barometer dropped 2.00 to 57.80. It remains Neutral. Downtrend was extended.
TSX Momentum Barometers
The intermediate term Barometer dipped 0.85 to 50.64. It remains Neutral.
The long term Barometer slipped 0.43 to 60.43. It remains Overbought.
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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March 1st, 2023 at 8:41 am
Paula and Rol:
Thanks for the input on trying to find an etf that concentrates on the specific industry of medical research and diagnostics.
I poked around a bit and found ‘etfchannel.com’.
You give it the stocks you want in an etf and it tells you the % of the etf represented by those stocks.
For the stocks I wanted in an etf, TMO, DRH, A, IDXX, IQV, only the very broad etfs contain them all.
6.9% of XLV is A IDXX IQV TMO
21.1% of IHI is IDXX TMO
‘etfchannel.com’ looks like a good tool to find industry concentrated etfs.
March 1st, 2023 at 9:09 am
This is an interesting article on retirement and how timing matters.
https://www.schwab.com/learn/story/timing-matters-understanding-sequence-returns-risk?fbclid=IwAR3iB-fhJnPWnaJwUoveCcxXFIhCEIgqqtBWuyVJ-Su9CC6PBTIvEBnz3EI
March 1st, 2023 at 11:53 am
Hi lony,
If you want to own just these five stocks, “you can start your own etf” by getting some of each, good if you can find a low cost broker – like around $1 per trade.
Canadians are still being shafted in this area, as some usa brokers charge $0 per trade (pmt for order flow).
This would allow you to not depend on the etf manager, and also to dollar cost average in and out a you see fit, if you like that idea.
Dave’s article above on “timing” your gains (and losses) is equally as important as which stocks you have. All of the symbols mentioned lost a little money if held from Jan 2022 to today, but looking at the individual charts, it might have been possible to make more $$ by trading them, or by not trading at all, stocks or etf’s. Not an easy game.
March 1st, 2023 at 6:01 pm
Dave/AB, thanks for sharing the article. A fact that I probably know, but very helpful to see it in graph format.