Tech Talk for Friday April 6th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 25 points in pre-opening trade. Futures are responding to new trade war fears with China.

Index futures moved lower following release of the U.S. March employment report released at 8:30 AM EDT. Consensus for March Non-farm Payrolls was 178,000 versus revised 326,000 in February. Actual was 103,000. Consensus for March Unemployment Rate was 4.0% versus 4.1% in February. Actual was 4.1%. Consensus for March Average Hourly Earnings was an increase of 0.2% versus a gain of 0.1% in February. Actual was an increase of 0.3%

The Canadian Dollar added 0.05 to 78.43 following release of the Canadian March employment report. Consensus for employment was an increase of 20,000 versus a gain of 15,400 in February. Actual was 32,300. Consensus for the March Unemployment Rate was unchanged from February at 5.8%. Actual was 5.8%.

Incyte dropped $18.37 to $64.70 and Merck fell $0.58 to $53.95 after their new drug to treat melanoma failed to reach a required end point during trials.

Xilinx fell $2.70 to $68.00 after JP Morgan downgraded the stock to Underweight from Neutral. Target was reduced to $68 from $73

Hasbro (HAS $85.40) is expected to open lower after MKM Partners lowered its target price to $96 from $110.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/04/05/stock-market-outlook-for-april-6-2018/

Note seasonality charts on Non-farm Payrolls, Initial Jobless Claims, Canadian Merchandise Exports and Canadian Merchandise Imports.

StockTwits Released Yesterday @EquityClock

McDonalds $MCD, a Dow Jones Industrial stock moved above $163.23 completing a reverse Head & Shoulders pattern.

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakdowns: $PHM $MCD. No breakdowns.

Canadian Natural Resources $CNQ.CA, a TSX 60 stock moved above $41.56 Cdn completing a double bottom pattern.

'Tis the season for Canadian Natural Resources to move higher to late May! $CNQ $CNQ.CA

TSX Energy iShares $XEG.CA moved above $11.52 extending an intermediate uptrend.

'Tis the season for the TSX Energy Index and related ETFs $XEG.CA to move higher to early June.

Imperial Oil $IMO.CA , a TSX 60 stock moved above $35.68 completing a double bottom pattern.

Magna Int'l $MG.CA $MGA moved above $74.86 Cdn to an all-time high extending an intermediate uptrend. Possible NAFTA breakthrough on autoparts.

Another Cdn. autoparts stock breaks out on NAFTA rumors! Martinrea $MRE.CA moved above $15.96 extending an intermediate uptrend.

Southern Copper $SCCO moved above $56.61 to an all-time high extending an intermediate uptrend.

Canadian Oil Services stocks also popping. Tis the season for strength! $SCL.CA $PD.CA $TCW.CA

U.S. Oil Services stocks also popping! $DO $OIH $OSX $SLB. 'Tis the season for strength!

'Tis the season for strength in the Oil Services sector on both sides of the border! $OSX $OIH

Rogers Communications $RCI $RCI.B.CA, a TSX 60 stock moved above $46.23 U.S. setting intermediate uptrend.

Energy stocks gaining respect today, but still a ways to go to account for strong product demand.

Canada Merchandise Trade: Exports fell by 7.7% (NSA) in February, while Imports up 0.8%. (Avg Chg: -2.0 & +2.3%, respectively) #CDNecon #CAD

Reversal candlesticks on U.S. equity indices bounce from significant support, a strong buy signal.

Trader's Corner

Daily Seasonal/Technical Equity Trends for April 5th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 5th 2018

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for April 5th 2018

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blog

http://www.valuetrend.ca/heres-one-positive-indication-on-current-markets/

S&P 500 Momentum Barometer

The Barometer gained 5.60 to 41.00 yesterday. It has moved from intermediate oversold to intermediate neutral.

TSX Momentum Barometer

The Barometer gained 8.43 to 47.93 yesterday. It changed from intermediate oversold to intermediate neutral.

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

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