Tech Talk for Tuesday April 2nd 2024
U.S. equity index futures were lower this morning. S&P 500 futures were down 21 points at 8:30 AM EDT.
PVH dropped $25.48 to $114.25 after the company predicted a drop in fiscal first quarter 2025 revenues.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0011.png "clip_image001[1]")
Acord Therapeutics dropped $5.47 to $8.00 after the company filed for bankruptcy protection.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0021-1.png "clip_image002[1]")
Transocean gained $0.29 to $6.66 after WTI crude oil advanced in overnight trade to a six month high.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0031.png "clip_image003[1]")
NetEase dropped $11.20 to $151.60 after the company received a lacklustre response to launch of its latest videogame.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0041.png "clip_image004[1]")
Technical Notes
U.S. Dollar $USD moved above 104.88 extending an intermediate uptrend.
The U.S. Dollar ETN $UUP moved above $28.35 to an 18 month high extending an intermediate uptrend.
TSX Gold iShares $XGD.TO moved above Cdn$18.42 extending an intermediate uptrend.
Gold Miners ETF $GDX moved above $32.35 extending an intermediate uptrend.
Oil and Gas Exploration SPDRs $XOP moved above $155.15 to a 21 month high extending an intermediate uptrend.
Emerging Markets iShares $EEM moved above $41.42 extending an intermediate uptrend.
Gold Bug Index $HUI moved above $254.06 extending an intermediate uptrend.
Alphabet $GOOG a NASDAQ 100 stock moved above $155.20 to an all-time high and GOOGL moved above $153.78 to an all-time high extending an intermediate uptrend
MMM $MMM a Dow Jones Industrial Average stock moved above $91.01 completing a reverse Head & Shoulders pattern.
NetEase $NTES a NASDAQ 100 stock moved below $101.16 completing a double top pattern.
Home Depot $HD a Dow Jones Industrial Average stock moved below intermediate support at $368.87
Thomson Reuters $TRI.TO a TSX 60 stock moved below Cdn$209.49 completing a double top pattern.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 1st 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 1st 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 1st 2024
Green: Increase from previous day
Red: Decrease from previous day
Link offered by a valued provider
What Gold’s All-Time High Says About The Market: Dan Nathan and LizYoung|
https://www.youtube.com/watch?v=ke9I6oSozBE
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 4.60 to 80.60. It remains Overbought.
The long term Barometer dropped 1.80 to 84.00. It remains Overbought
TSX Momentum Barometers
The intermediate term Barometer dropped 2.68 to 69.64. It remains Overbought.
The long term Barometer dropped 2.23 to 73.66. 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
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