Tech Talk for Thursday April 4th 2024

U.S. equity index futures were higher this morning. S&P 500 futures were up 23 points in pre-opening trade.

S&P 500 futures added 6 point following release of the U.S. February Trade Report at 8:30 AM EDT. Consensus was a deficit of $66.90 billion versus a deficit of $67.40 billion in January. Actual was a deficit of $68.9 billion.

Alphabet added $1.59 to $156.51 after the company announced the possibility of charging a fee for Artificial Intelligence powered searches.

Levi Strauss advanced $2.34 to $21.00 after reporting higher than consensus first quarter results. The company also offered positive guidance.

Block dropped $2.74 to $76.91 after Morgan Stanley downgraded the stock to Under Weight.

Technical Notes

Silver iShares $SLV (silver bullion) moved above $23.94 extending an intermediate uptrend.

Silver Mining stocks quickly responded: Hecla Mining moved above $5.19. First Majestic Silver moved above Cdn$8.73 and Cdn$9.29.

Silver Miners ETF $SIL moved above $28.47 resuming an intermediate uptrend.

Wheaton Precious Metals $WPM.TO a TSX 60 stock moved above Cdn$67.29 and US$50.95 resuming an intermediate uptrend.

Metals & Mining SPDRs $XME moved above $61.69 extending an intermediate uptrend.

Base Metals ETN (1/3 each in copper, zinc and aluminum) moved above US$18.38 extending n intermediate uptrend.

ConocoPhillips $COP an S&P 100 stock moved above $131.31 to an all-time high extending an intermediate uptrend.

TSX REIT iShares $XRE.TO moved below Cdn$15.30 setting an intermediate downtrend.

Mondelez $MDLZ an S&P 100 stock moved below $68.41 extending an intermediate downtrend.

Autodesk $ADSK a NASDAQ 100 stock moved below $246.17 completing a Head & Shoulders pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 3rd 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for April 3rd 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 3rd 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Top Two Sectors to Watch in April 2024: David Keller and Joe Rabil

Top Two Sectors to Watch in April 2024 - YouTube

Chip stocks set up for ‘continued weakness’ in April, market technician says

Chip stocks set up for ‘continued weakness’ in April, market technician says - YouTube

What Gold’s All-Time High Says About The Market | On The Tape Stock Investing & Trading Podcast

What Gold’s All-Time High Says About The Market | On The Tape Stock Investing & Trading Podcast - YouTube

Momentum in energy to continue, oil could reach US$90-100/bbl: strategist

Momentum in energy to continue, oil could reach US$90-100/bbl: strategist - YouTube

Gold Is on the Rise and Reaches All-Time High: Sprott

Sprott Q1 Precious Metals Report: Gold Is on the Rise and Reaches All-Time High

What Happens To Stocks If The Fed Doesn't Cut Rates? Guy Adami, Dan Nathan and Liz Young

What Happens To Stocks If The Fed Doesn't Cut Rates? - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 0.81 to 75.00. It remains Overbought.

The long term Barometer dropped 2.40 to 80.20. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped another 1.79 to 62.50. It remains Overbought and showing early signs of rolling over.

The long term Barometer dropped another 0.89 to 70.54. It remains Overbought.

Disclaimer: Seasonality ratings 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