Tech Talk for Thursday April 5th 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 economic news at 8:30 AM EDT. Consensus for February U.S. Trade Deficit was $56.8 billion versus $56.6 billion in January. Actual was $57.6 billion. Consensus for Weekly Jobless Claims was 226,000 versus 215,000 last week. Actual was 242,000.

The Canadian Dollar was virtually unchanged following release of Canada's February Trade Deficit. Consensus was an increase to $2.2 billion versus $1.9 billion in January. Actual was $2.42 billion.

Ryder Systems (R $72.99) is expected to open lower after JP Morgan downgraded the stock to Underweight from Neutral.

Facebook added $6.06 to $161.06 after Mark Zuckerberg completed a media interview late yesterday.

Autozone gained $8.17 to $636.82 after Wedbush upgraded the stock to Outperform from Neutral.

Intel slipped $0.13 to $49.86 after Stifel Nicolaus downgraded the stock to Hold to Buy.

Advanced Micro Devices added $0.27 to $10.04 after Stifel Nicolaus upgraded the stock to Buy from Hold.

Monsanto slipped $0.03 to $116.18 after fiscal second quarter revenues were less than consensus.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/04/04/stock-market-outlook-for-april-5-2018/

Note seasonality charts on Manufacturing New Orders, Crude Oil Days of Supply, Gasoline Days of Supply and the U.S. Energy sector.

Mr. Vialoux presenting to the CSTA (KWGC Chapter)

The presentation is tonight at 7:30 PM EDT. Location is 4355 King St East in Kitchener. Everyone is welcome.

Observations

A wild day in U.S. equity markets yesterday! Prior to the opening, the Dow Jones Industrial Average was down over 600 points. It closed up 231 points. Volatility at a higher-than-average level continues.

Canadian Financials were notably weaker yesterday. The S&P/TSX Financial Index moved below 288.02 extending an intermediate downtrend.

Nice recovery by the Canadian Dollar! NAFTA fears are abating.

Cannabis stocks and their related ETF continue to struggle. HMMJ briefly moved below support at $14.76 yesterday.

U.S. Home Builder stocks soared after Lennar reported blowout fiscal first quarter earnings. Responses to first quarter reports released by S&P 500 companies to date have been encouraging. Look for more pleasant surprises next week when first quarter reports by major U.S. banks are released.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bearish. Intermediate breakout: $HRL. Breakdowns: $KMX $WLTW $LYB $COO.

Editor's Note: After 10:00 AM EDT, technical action by S&P 500 stocks turned bullish. Breakouts included MAA, LEN, UAA, IRM, DLTR, NKE, DHI, ESS and FRT. No breakdowns.

Editor's Note: Chemical producer such as LYB, who sell to China where a tariff was proposed, had a rough day on the charts.

National Bank $NA.CA, a TSX 60 stock moved below $59.28 extending an intermediate downtrend.

Another Canadian bank stock breakdown! Commerce Bank $CM.CA, a TSX 60 stock moved below $111.21 extending an intermediate downtrend.

Bombardier $BBD.B.CA, a TSX 60 stock moved below $3.61 completing a double top pattern.

Pembina Pipeline $PPL.CA moved below $37.77 extending an intermediate downtrend.

SNC Lavalin $SNC.CA moved below $54.78 setting an intermediate downtrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for April 4th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 4th 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 4th 2018

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blog

Is it the end of the world as we know it?

http://www.valuetrend.ca/its-the-end-of-the-world-as-we-know-it/

S&P 500 Momentum Barometer

The Barometer added another 9.60 to 35.40 yesterday. It remains intermediate oversold and trending up.

TSX Momentum Barometer

The Barometer added 0.32 to 39.51 yesterday. It remains intermediate overbought and trending up.

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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