Tech Talk for Tuesday April 17th 2018

U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade.

Index futures were virtually unchanged following release of the March Housing Start report at 8:30 AM EDT. Consensus was 1.27 million units versus 1.236 million in February. Actual was 1.32 million units.

Johnson & Johnson gained $1.04 to $132.80 after reporting higher than consensus first quarter earnings.

Netflex jumped $21.22 to $329.00 after reporting higher than consensus first quarter sales and earnings. Several investment firms raised their target price on the stock.

Goldman Sachs added $2.12 to $260.00 after reporting higher than consensus first quarter earnings.

International Paper slipped $0.14 to $53.61 after RBC Capital downgraded the stock to market perform from outperform. Target was reduced to $57 from $70.

UnitedHealth Group gained $4.90 to $235.22 after reporting higher than consensus first quarter earnings.

Lululemon gained $1.59 to $95.35 after MKM Partners raised its target price to $103 from $95.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/04/16/stock-market-outlook-for-april-17-2018/

Note seasonality charts on Drug Retailers, Retail Sales, Empire State Manufacturing Survey, Business Sales, Business Inventories and the Technology sector.

Observations

Responses to first quarter reports released yesterday remained positive.

Netflix surged over 6% after the close after reporting higher than consensus quarterly results.

The Chinese market has become a concern.

StockTwits Released Yesterday @EquityClock

BCE Inc. $BCE.CA, a TSX 60 stock moved below $53.72 extending an intermediate downtrend.

Manufacturing in the New York region remains upbeat. Empire State Survey showing 26.7 (NSA), well above average level of 17.3.

Sales growth returns to #Retail industry. Activity up 16.7% (NSA) in March, above average for month by 3.3%.

Loblaw Companies $L.CA, a TSX 60 stock moved below $63.04 extending an intermediate downtrend.

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakouts: $ULTA $MPC $CMI. No breakdowns.

Editor's Note: After 10:00 AM EDT, breakouts included LLY, EIX, PXD, TWX and PSX. No breakdowns

Inter Pipeline $IPL.CA, a TSX 60 stock moved $23.50 completing a double bottom pattern.

Brazil iShares $EWZ moved below $41.84 completing a double top pattern.

More U.S. energy stock breakouts: $MPC $NE $PXD.

Nickel ETN $JJNTF moved above $17.50 extending an intermediate uptrend.

BMO Junior Gas ETF $ZJN.CA moved above $15.04 setting intermediate uptrend.

Restaurant Brands International $QSR.CA, a TSX 60 stock moved below $68.79 extending an intermediate downtrend.

Cameco $CCO.CA $CCJ, a TSX 60 stock spiked on rumors that Russia is considering a ban on uranium exports

Ditto for Denison Mines, another uranium producer! $DML.CA $DNN

Editor's Note: Ditto for the Uranium ETF!

Trader's Corner

Daily Seasonal/Technical Equity Trends for April 16th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 16th 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 16th 2018

Green: Increase from previous day

Red: Decrease from previous day

Keith Richard's Blog

Keith says, "Bear-o-meter continues to read favourably" See

http://www.valuetrend.ca/bear-o-meter-continues-to-read-favorably/

Josef Schachter update

It's starting to happen, consolidation in the Canadian energy sector! Yesterday, Aveda (AVE) and Specter (SPE) received takeover offers. Look for more consolidation in the months ahead. Josef will comment in the April edition of the Schachter Energy Report. .

S&P 500 Momentum Barometer

The Barometer gained 10.00 to 51.20 yesterday. It remains intermediate neutral and trending up.

TSX Momentum Barometer

The Barometer gained 3.29 to 55.14 yesterday. It remains intermediate neutral 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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