Tech Talk for Tuesday March 5th 2024
U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points at 8:30 AM EST.
Target gained $12.81 to $163.30 after reporting higher than consensus fourth quarter profits. The company also raised guidance.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/03/clip_image0015.png "clip_image001[5]")
Apple dropped $3.45 to $171.65 after reporting a 24% decrease in iPhone sales in China during the past six months.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/03/clip_image0025.png "clip_image002[5]")
Paymentus Holdings gained $3.75 to $20.10 after reporting higher than consensus fourth quarter earnings.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/03/clip_image0035.png "clip_image003[5]")
Gitlab dropped $9.47 to $65.00 after offering guidance below consensus.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/03/clip_image0045.png "clip_image004[5]")
Technical Notes
Gold ETN $GLD moved above $194.45 to an all-time high extending an intermediate uptrend.
Materials SPDRs $XLB moved above $88.35 to an all-time high extending an intermediate uptrend.
Cadence Design Systems $CDNS a NASDAQ 100 stock moved above $315.70 to an all-time high extending an intermediate uptrend.
Ford $F an S&P 100 stock moved above $12.73 extending an intermediate uptrend. Responding to higher than consensus sales!
Altria $MO an S&P 100 stock moved below $39.91 setting an intermediate downtrend
Fox $FOX an S&P 100 stock moved below $26.41 and $FOXA moved below $28.51 setting an intermediate downtrend.
Charter Communications $CHTR an S&P 100 stock moved below $279.64 extending an intermediate downtrend.
Rogers Communications $RCI a TSX 60 stock moved below US$43.89 and Cdn$59.61 setting an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 4th 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 4th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 4th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Weekly Update with Larry Berman – March 2, 2024
https://www.youtube.com/watch?v=g8Z3DJwuo2A
Where is the Stock Market Top? | Chart Check on S&P 500, Yields & Mag7 Stocks: Guy Adami, Dan Nathan and Carter Worth (Note comment on gold).
https://www.youtube.com/watch?v=OLQ4ATxdSRg
How Powell’s testimony, jobs report could impact stock rally
How Powell’s testimony, jobs report could impact stock rally - YouTube
Europe is good for vacation, not for stocks: Trivariate’s Adam Parker
Europe is good for vacation, not for stocks: Trivariate’s Adam Parker - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 2.80 to 72.00. It remains Overbought.
The long term Barometer added 1.00 to 76.60. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer dropped 4.00 to 56.44. It changed from Overbought to Neutral on a drop below 60.00.
The long term Barometer slipped 0.44 to 63.56. 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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