Tech Talk for Thursday April 12th 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade.

Index futures were virtually unchanged following release of the Weekly Jobless Report at 8:30 AM EDT. Consensus was 230,000 versus 242,000 last week. Actual was 233,000.

Delta Airlines added $1.33 to $52.80 after reporting higher than consensus first quarter earnings.

Blackrock gained $6.69 to $532.00 after reporting higher than consensus first quarter sales and earnings.

Bed Bath & Beyond dropped $3.68 to $17.82 after lowering second quarter sales guidance. At least four investment dealers lowered their target price on the stock.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/04/11/stock-market-outlook-for-april-12-2018/

Note seasonality charts on U.S. Consumer Price Index, Crude Days of Supply, Gasoline Days of Supply and Crude Oil.

New Seasonal Chart Database Members Section

http://www.equityclock.com/2018/04/10/new-seasonal-chart-database-members-section/

Celebrating 15 years of service

Tech Talk's first report was released on April 12th 2003

Observations

The CRB Index and its related ETF, GSG are testing the top of a 30 month base building pattern to be completed on a move above 201.19.

The CRB Index was bolstered yesterday by intermediate breakouts in precious metal and energy prices triggered by missile strikes into Saudi Arabia from Yemen.

Energy and gold stocks on both sides of the border responded accordingly.

StockTwits comments released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakouts: $BHGE $FTI. Breakdowns: $AMG $FAST

Editor's Note: After 10:00 AM EDT, breakouts includedVLO, RIO, WY, FLS and NOV. Breakdowns: AAL

Oil Services ETF $OIH moved above $25.42 moved above #25.42 completing a double bottom pattern.

Crude Oil ETN $USO moved above $13.30 to a 30 month high extending an intermediate uptrend.

Another Canadian oil stock breakout: Crescent Point Energy CPG.CA completed a double bottom pattern on a move above $9.87.

More "gassy" stocks break to highs extending an intermediate uptrend: $AAV.CA $CR.CA

First Majestic Silver $AG moved above US$6.51 extending an intermediate uptrend.

Industrial Alliance $IAG.CA moved below $$51.34 extending an intermediate downtrend.

Another Canadian oil stock, Peyto Explorations $PEY.CA moved above $12.00 completing a double bottom pattern.

Franco-Nevada $FNV, a TSX 60 stock moved above US $71.07 completing a double bottom pattern.

Another gold stock, Yamana Gold $YRI.CA moved above $3.69 completing a double bottom pattern.

Suncor $SU.CA, a TSX 60 stock moved above $47.28 extending an intermediate uptrend.

Junior Gold ETF $GDXJ moved above $33.69 setting an intermediate uptrend.

U.S. "gassy" ETF $FCG moved above $21.17 completing a double bottom pattern. 'Tis the season for strength til mid-June.

Intertape Polymer $ITP.CA moved below $19.54 extending an intermediate downtrend.

Jump in domestic production and imports lifted US #Oil stockpiles last week. Still running below average change on year. $XLE $USO

US CPI up 0.2% (NSA) in March, well short of 0.5% average increase for month. #Inflation #Economy $MACRO

Trader's Corner

Daily Seasonal/Technical Equity Trends for April 11th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 11th 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 11th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer dropped 4.40 to 36.60 yesterday. It dropped back to intermediate oversold, but continues to trend higher.

TSX Momentum Barometer

The Barometer added 4.12 to 50.62 yesterday. It remains intermediate neutral and continues to trend higher.

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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