March 21, 2026 | Tech Talk for Saturday March 21st 2026

The Bottom Line

We live in strange times! On one hand, technical selling in North American equity markets accelerated last week. The S&P 500, NASDAQ Composite Index and Dow Jones Industrial Average broke below their 200 day moving averages on Thursday triggering numerous sell recommendations by technical analysts. On the other hand, consensus for earnings and revenue gains for S&P 500 companies offered by U.S. fundamental analysts accelerated to the upside. Seasonal influences for North American equity indices normally bottom in the second half of March. Technical evidence shows that S&P 500 and TSX Composite Index are deeply oversold. However, technical signs of a seasonal low have yet to surface. Momentum indicators for stocks in both indices plunged to new recent lows on Friday. See momentum charts at the end of this report for TSX and S&P 500 stocks. Short term caution continues to be advised.

Earnings and Revenues Consensus for S&P 500 companies
Source: www.factset.com
Analysts accelerated their 2026 earnings and revenue gain gains last week.

• Consensus for first quarter 2026 calls for a 12.5% earnings increase, up from an 11.6% last week. Revenue gains increased to 9.6% from 9.4%.
• Consensus for second quarter 2026 earnings gains increased to 17.8% from16.0%. Consensus for revenue gains increased to 9.0% from 8.7%.
• Consensus for third quarter 2026 earnings gains increased to 18.8% from 16.9%. Consensus for revenue gains increased to 8.2% from 7.9%.
• Consensus for fourth quarter 2026 earnings gains increased to 18.1% from 15.9%. Revenue gains increased to 8.1% from 8.0%.
• For all of 2026, consensus for earnings gains increased to 16.3% from 15.3%. Consensus for revenue gains increased to 8.3% from 8.0%.

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Don Vialoux March 21st, 2026

Posted In: Tech Talk

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