Tech Talk for Wednesday April 18th 2018

U.S .equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade.

First quarter reports continue to pour in. Companies that reported overnight included IBM, United Continental, Intuitive Surgical, CSX, Abbott Labs and Morgan Stanley.

Intuitive Surgical added $23.05 to 458.50 after reporting higher than consensus first quarter earnings. Stifel Nicolaus raised its target price on the stock to $515 from $480.

UnitedHealth Group (UNH $238.55 is expected to open higher after JP Morgan raised its target price to $266 from $258.

Johnson & Johnson (JNJ $130.40) is expected to open higher after Stifel Nicolaus raised its target price to $145 from $135.

eBay gained $2.29 to $42.90 after Morgan Stanley upgraded the stock to overweight from underweight.

VM Ware gained $5.34 to $137.22 on news that Karl Icahn has taken a moderate position in the stock.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/04/17/stock-market-outlook-for-april-18-2018/

Note seasonality charts on U.S. Housing Starts, Manufactured Goods Sales, Industrial Production and NASDAQ Composite Index.

StockTwits released yesterday @EquityClock

Tech action by S&P 500 stocks to 10:00: Bullish. Breakouts: $IPG $COST $KR $ALL $ETFC $PLD $HUM $UNH $TDG $CTXS $FLIR $PCG $CNC. No breakdowns.

Editor's Note: After 10:00 AM EDT, breakouts included MSI, SEE, SYMC, NFLX, NLSN, INTU, NRG, SRE, FE, ETR and STZ. Breakdowns: RF, MTB, KEY

Eurozone iShares $EZU moved above $44.81 setting intermediate uptrend.

Canfor $CFP.CA moved above $31.87 and $31.93 to all-time high extending an intermediate uptrend.

Another oil services stock breakout! $BAD.CA moved above $26.57 extending an intermediate uptrend.

U.S. Industrial Production up 1.8% in the first quarter, above the average gain of 1.2% #Manufacturing #Economy $MACRO

Canada #Manufacturing Sales down 2.4% (NSA) in February versus average gain of 0.2% for the month. #CDNecon #CAD $MA

#Housing Starts up 31.3% (NSA) in first quarter of the year, well above 24.2% average gain for the period. #Economy $MACRO $ITB $XHB

Netflix $NFLX, one of the FAANG stocks moved above $333.98 to an all-time high extending an intermediate uptrend.

U.S. Regional Banks under technical pressure. Several broke short term support. $RF $MTB $KEY $KRE

U.S. utilities intermediate breakouts this afternoon: $NRG $SRE $FE $ETR $XLU

Another major Canadian energy stock breaks out! $ECA Encana moved above $US$12.31 extending an intermediate uptrend.

Another Cdn lumber stock breaks out! West Fraser Timber $WFT.CA moved above $94.48 to an all-time high extending uptrend.

Uranium ETF $URA moved above US$13.90 extending an intermediate uptrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for April 17th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 17th 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 17th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer jumped 9.00 to 60.20 yesterday. It has moved to intermediate overbought, but continues to trend higher.

TSX Momentum Barometer

The Barometer gained another 5.35 to 60.49 yesterday. It has moved to an intermediate overbought level, but continues to trend higher.

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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