by Don Vialoux, EquityClock.com
Technical Notes for Wednesday March 3rd
Salesforce.com (CRM), a Dow Jones Industrial Average stock moved below $212.99 extending an intermediate downtrend.
AutoDesk (ADSK), a NASDAQ 100 stock moved below $272.70 completing a double top pattern.
Fox (FOX), an S&P 100 stock moved above $39.96 extending an intermediate uptrend.
Silver ETN (SLV) moved below $24.06 setting an intermediate downtrend.
OKTA (OKTA), a NASDAQ 100 stock moved below $238.82 completing a modified double top pattern.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for March 3rd 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for March 3rd 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for March 3rd 2021
Green: Increase from previous day
Red: Decrease from previous day
Market Buzz
Greg Schnell discusses the Schnell Strength Index. The Index currently is flashing a cautious outlook on equity markets. Following is a link:
https://www.youtube.com/watch?v=nISm3vPhQf4&feature=youtu.be&ab_channel=StockCharts
Change is Seasonality
TSX Composite Index relative to the S&P 500 Index changes from Positive to Negative from March 5th to May 1st
S&P 500 Momentum Barometers
The intermediate Barometer dropped 6.21 to 57.11 yesterday. It returned from Overbought to Neutral and trending down.
The long term Barometer dropped 2.40 to 80.96 yesterday. It remains Extremely Overbought and trending down.
TSX Momentum Barometers
The intermediate Barometer added 0.96 to 60.10 yesterday. It returned from Neutral to Overbought on a move above 60.00.
The long term Barometer slipped 0.48 to 74.04 yesterday. It remains Overbought.
Disclaimer: Seasonality 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
This post was originally publised at Vialoux's Tech Talk.
