Pre-opening Comments for Tuesday March 14^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 18 points in pre-opening trade.

Index futures moved lower following release of the February inflation report at 8:30 AM EDT. February Consumer Price Index was expected to increase 0.4% versus a gain of 0.5% in January. Actual was an increase of 0.4%. On a year-over-year basis, February CPI was expected to increase 6.0% versus a gain of 6.4% in January. Actual was an increase of 6.0%. Excluding food and energy, February Consumer Price Index was expected to increase 0.4% versus a gain of 0.4% in January. Actual was an increase of 0.5% .On a year-over-year basis, core CPI was expected to increase 5.5% versus an increase of 5.6% in January. Actual was an increase of 5.5%.

United Airlines dropped $3.33 to $45.50 after the company noted that it expects to report a loss in the current quarter.

Bunge advanced $7.70 to $99.09 after the stock was selected to be included in the S&P 500 Index, replacing Signature Bank.

Gitlab dropped $14.20 to $30.40 after the company announced a fourth quarter loss.

 

EquityClock’s Daily Comment

Headline reads “Treasury bond prices are surging, particularly at the short and intermediate end of the curve”.

http://www.equityclock.com/2023/03/13/stock-market-outlook-for-march-14-2023/

 

Technical Notes

Actively traded U.S. listed ETFs that broke intermediate support included XOP, MOO, XLE, EWG, EWI, EPP, RSP, PICK, SMH and SOXX

Canadian listed ETFs that broke intermediate support included COW.TO, XBM.TO and ZMT.TO

S&P 100 stocks breaking intermediate support included F, COP, SPG, USB, WFC, BA, CAT, EMR, GD, ALL

NASDAQ 100 stocks breaking intermediate support included CPRT, CSX, ADSK, LRCX, LULU

TSX 60 stocks breaking intermediate support included BMO.TO, NA.TO, MFC.TO, CP.TO, MG.TO, WN.TO, L.TO, CVE.TO and PPL.TO

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 13^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for March 13^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for March 13^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Canadian Association for Technical Analysis Presentation

Next meeting is this evening at 8:00 PM EST. Speaker is Matt Caruso. Everyone is welcome. Not a member of CATA? See https://canadianata.ca/

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 0.60 to 18.20. It remains Oversold.

The long term Barometer dropped 2.00 to 41.80. It remains Neutral. Trend is down.

 

TSX Momentum Barometers

The intermediate term Barometer was unchanged at 28.51. It remains Oversold. Trend remains down.

The long term Barometer was unchanged at 52.77. It remains Neutral. Trend remains down.

 

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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