Tech Talk for Friday March 1st 2024
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM EST
WTI Crude oil added $1.33 to a three month high at U.S. 79.58 per barrel.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/03/clip_image0011.png "clip_image001[1]")
Dell Technologies advanced $12.34 after reporting higher than consensus fourth quarter results. The company also raised its dividend.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/03/clip_image0021.png "clip_image002[1]")
Autodesk gained $14.83 to $273.00 after reporting higher than consensus fourth quarter results.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/03/clip_image0031.png "clip_image003[1]")
Zscaler dropped $16.97 to $225.00 after offering guidance below consensus.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/03/clip_image0041.png "clip_image004[1]")
Technical Notes
WTI Crude Oil $WTIC moved above US$79.29 extending an intermediate uptrend.
Russell 2000 iShares $IWM moved above $205.49 extending an intermediate uptrend.
U.S. Brokers iShares $IAI moved above $110.91 to an all-time high extending an intermediate uptrend.
Frontier iShares $FM moved above $26.96 extending an intermediate uptrend.
Advanced Micro Devices $AMD moved above $184.92 to an all-time high extending an intermediate uptrend.
Canadian Imperial Bank of Commerce $CM.TO a TSX 60 stock moved above Cdn$64.09 extending an intermediate uptrend. It reported higher than consensus fiscal first quarter earnings.
BMO Equal Weight Canadian Energy ETF $ZEO.TO moved above Cdn$66.45 extending an intermediate uptrend.
Canadian Natural Resources $CNQ.TO a TSX 60 stock moved above Cdn$82.34 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Feb.29th 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 Feb.29th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Feb.29th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Copper: Wired for the future: Sprott
Copper: Wired for the Future (sprott.com)
Magnificent 7 Not All Magnificent! David Keller
Magnificent 7 Not All Magnificent! - YouTube
Do NOT Argue With a Secular Bull Market Advance! Tom Bowley
https://www.youtube.com/watch?v=0UUEqhVGhaE
Bullish Pattern In These Three Stocks: Dan Nathan, Guy Adami and Carter Worth
https://www.youtube.com/watch?v=4w63wJ2IxEs
Swing Trading Strategies, Tips & Trends: Joe Rabil and Bruce Fraser
https://www.youtube.com/watch?v=vuqbNDNmsF8
S&P 500 Momentum Barometers
The intermediate term Barometer added 2.00 to 67.60. It remains Overbought.
The long term Barometer added 2.80 to 76.60. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer dropped 1.33 to 51.56. It remains Neutral. Daily trend is down.
The long term Barometer added 1.33 to 58.22. It remains Neutral.
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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