Pre-opening Comments for Friday March 15^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points at 8:35 AM EDT

Volume and volatility in U.S. equity markets is expected to be exceptionally high today. March options tied to more than $5 trillion in stocks, exchange-traded funds and equity indexes are set to expire today during the quarterly triple witching.

Equity index futures were unchanged following release of the March Empire State Manufacturing Survey at 8:30 AM EDT. Consensus was a drop to -6.50 from a drop of- 2.40 in February. Actual was a drop to -20.9.

Adobe dropped $40.00 to $531.66 after offering fiscal second quarter guidance less than consensus.

Ulta Beauty dropped $14.44 to $551.00 after offering guidance below consensus.

Pageduty dropped $2.54 to $20.39 after reporting less than consensus quarterly guidance. The company also offered guidance below consensus.

McDonald’s dropped $1.50 to $280.23 after its international operations experienced technical problems not cyber related.

 

Wolf on Bay Street

Don Vialoux is a guest on Wolf on Bay Street available on Corus Radio 640 at 7:00 PM EDT on Saturday.

 

Technical Notes

WTI Crude Oil $WTIC moved above $80.85 per barrel extending an intermediate uptrend.

TSX Energy iShares $XEG.TO moved above Cdn$17.62 to a 16 year high extending an intermediate uptrend.

Schlumberger $SLB an S&P 100 stock moved above $52.93 completing a double bottom pattern.

Invesco Commodity ETN $DBA moved above $22.61 completing a double bottom pattern.

Microsoft $MSFT a Dow Jones Industrial Average stock moved above $420.04 to an all-time high extending an intermediate uptrend.

Check Point $CHKP a NASDAQ 100 stock moved above $166.71 to an all-time high extending an intermediate uptrend.

McDonald’s $MCD a Dow Jones Industrial Average stock moved below $279.95 completing a double top pattern.

Illumina $ILMN a NASDAQ 100 stock moved below $129.63 and $128.05 completing a Head & Shoulders pattern.

TSX 60 stocks moving below intermediate support included Magna International below Cdn$71.57, $70.99 and $70.88 setting an intermediate downtrend, Rogers Communications below US$43.03 completing a double top pattern and Telus below Cdn$22.47 extending an intermediate downtrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for March 14^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

 

Commodities

Daily Seasonal/Technical Commodities Trends for March 14^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 14^th 2024

Green: Increase from previous day

Red: Decrease from previous day

 

Links offered by valued providers

Are Short Squeezes Heating Up? Tom Bowley

Are Short Squeezes Heating Up? – YouTube

 

You Have To See These 5 Top-ranked Charts!” Larry Tentarelli

You Have To See These 5 Top-ranked Charts! – YouTube

 

These Signals Will Improve Your Timing: Joe Rabil

These Signals Will Improve Your Timing – YouTube

 

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 6.80 to 72.20. It remains Overbought.

The long term Barometer dropped 2.20 to 78.40. It remains Overbought.

 

TSX Momentum Barometers

The intermediate term Barometer dropped 2.67 to 62.22. It remains Overbought.

The long term Barometer dropped 0.89 to 67.11. 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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