Tech Talk for Thursday April 19th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was a dip to 226,000 from 233,000 last week. Actual was a dip to 231,000. Consensus for the April Philly Fed Index was a drop to 20.1 from 22.3 in March. Actual was an increase to 23.2.

First quarter earnings reports continue to pour in. Reports released since the close yesterday included Alcoa, American Express, Bank of New York Mellon, BB&T Banks, Blackstone, Canadian Pacific, Danaher, Keycorp, Philip Morris, Procter & Gamble, Quest Diagnostics and Snap-on.

American Express gained $3.45 to $98.60 after reporting higher than consensus first quarter sales and earnings. RBC Capital and Oppenheimer raised their target price on the stock.

PayPal added $0.16 to $80.50 after Susquehanna raised its target price to $86 from $79.

Alcoa advanced $1.95 to $61.35 after JP Morgan raised its target price to $86 from $79.

Kinder Morgan added $0.38 to $16.55 after raising its dividend.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/04/18/stock-market-outlook-for-april-19-2018/

Note seasonality charts on Crude Oil days of Supply. Gasoline days of Supply, Crude Oil, U.S. Energy sector, Materials sector and Industrial sector.

Observation

The CRB Index broke above 201.19 to reach a 30 month high.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:30: Bullish. Breakouts: $CMG $KMX $SLB $BSX $ISRG $CSX $TXT $EXC $NEE $EXPD. No breakdowns.

Editor's Note: After 10:30 AM EDT, breakouts included WYNN, HLT, DRE, INTC and HP.

Oil services stocks continue to advance. Industry leader Schlumberger $SLB moved above $69.21 setting intermediate uptrend

TSX Gold ETF $XGD.CA moved above $12.00 completing a double bottom pattern.

Canadian gold stock breakouts included $FNV.CA $DGC.CA

U.S. gold miner ETF $GDX moved above $23.15 setting an intermediate uptrend.

Silver miner ETF $SIL moved above $31.86 setting intermediate uptrend.

Base Metals ETN $DBB moved above $19.78 extending an intermediate uptrend

Another major Canadian oil stock breaks out! Husky Energy, a TSX 60 stock moved above $19.16 extending an uptrend.

Europe iShares $IEV moved above $48.18 setting intermediate uptrend.

Intel $INTC, a Dow Jones Industrial stock moved above $53.78 to an all-time high extending an intermediate uptrend.

RioTinto $RIO, a major base metal producer moved above $57.29 to a 10 year high extending an intermediate uptrend. Higher base metal prices!

Big rebound in the level of gasoline product supplies helping to draw on inventories of both gas and oil $USD $UGA $XLE $OIH $XOP

Trader's Corner

Daily Seasonal/Technical Equity Trends for April 18th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 18th 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 18th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 1.40 to 61.60 yesterday. It remains intermediate overbought, but trending upward.

TSX Momentum Barometer

The Barometer gained another 3.82 yesterday. It remains intermediate overbought, but trending upward.

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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