by Don Vialoux, Timingthemarket.ca
Pre-opening Comments for Tuesday March 29th
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade. Investors are waiting for a speech to be made by Federal Reserve Chairperson Janet Yellen at Noon.
Lions Gate added $0.27 to $21.83 after Pacific Crest initiated coverage with an Overweight rating and a $27 target.
Chipotle slipped $10.30 to $465.01 after Wedbush downgraded the stock to Underperform from Neutral. Target is $400.
Lennar added $1.59 to $48.29 after reporting higher than consensus first quarter revenues and earnings.
MMM (MMM $166.00) is expected to open higher after issuing positive long term earnings guidance.
Foot Locker added $1.12 to $66.32 after its shares were added to the S&P 500 Index this Friday. Foot Locker replaces Cameron International.
EquityClock’s Daily Market Comment
Following is a link:
http://www.equityclock.com/2016/03/28/stock-market-outlook-for-march-29-2016/
StockTwits Released Yesterday
Excluding transportation, new orders for durable goods is trending above the seasonal average so far in 2016.
Technical action by S&P 500 stocks to 10:00 AM: Quiet. One stock broke resistance: $IPG. None broke support.
Editor’s Note: After 10:00 AM, technical action remained quiet. Additional breakouts: General Electric and Robert Half. Breakdown: GameStop
Nice breakout by General Electric $GE above resistance at $31.24 to reach a 14 year high.
Trader’s Corner
Daily Seasonal/Technical Equity Trends for March 28th 2016
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for March 28th 2016
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Sector Trends for March 28th 2016
Green: Increase from previous day
Red: Decrease from previous day
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