Tech Talk for Wednesday April 3rd 2024
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points at 8:30 AM EDT.
Intel dropped $1.82 to $42.12 after announcing a higher than consensus loss from its foundry business
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0011-1.png "clip_image001[1]")
Vanda Pharmaceutical gained $1.20 to $5.11 after receiving FDA approval for Fanapt.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0021-2.png "clip_image002[1]")
Taiwan iShares is expected to open lower after Taiwan was hit by a massive earthquake.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0031-1.png "clip_image003[1]")
Cal-Maine Foods added $4.09 to $63.00 after reporting higher than consensus fiscal third quarter revenues.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0041-1.png "clip_image004[1]")
Technical Notes
20+ U.S. Treasury Bond iShares $TLT moved below $91.42 extending an intermediate downtrend.
Conversely, yield on 10 year U.S. Treasury Bonds moved above 4.354% extending an intermediate uptrend.
Healthcare SPDRs $XLV moved below $143.99 completing a double top pattern.
Healthcare Providers iShares $IHF moved below intermediate support at $52.07
UnitedHealth Group $UNH a Dow Jones Industrial Average stock moved below $466.35 extending an intermediate downtrend.
Other big cap U.S. equities moving below support setting intermediate downtrends included Apple on a move below $168.49, Starbucks on a move below $90.10, Costco on a move below $711.01, Walgreens Boots on a move below $19.45 to a 13 year low and Ross Stores on a move below $142.96.
TSX Global Gold iShares $XGD.TO moved above Cdn$18.42 resuming an intermediate uptrend. Gold Miners ETF $GDX moved above $32.35 and Junior Gold Miners ETF $GDXJ moved above $39.82 resuming an intermediate uptrend.
Lundin Mining $LUN.TO a major base metals producer moved above Cdn$14.08 to an all-time high extending an intermediate uptrend.
Open Text $OTEX a TSX 60 stock moved below US$37.39 setting an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 2nd 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 2nd 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 2nd 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Should You be Concerned About These Four Stocks? David Keller and Julius de Kempenaer of RRG Research
Should You be Concerned About These Four Stocks? - YouTube
Strength Reverses Ahead of THE FED: Tom Bowley
Strength Reverses Ahead of THE FED - YouTube
Market Sells Off: What’s the New Risk On Trade? Dan Nathan, Guy Adami, Carter Worth
Note comments on Silver and Gold
Market Sells Off: What’s the New Risk On Trade? - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 6.20 to 74.40. It remains Overbought.
The long term Barometer dropped 1.40 to 82.60. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer dropped 5.36 to 64.29. It remains Overbought and has started to trend down.
The long term Barometer dropped 2.23 to 71.43. 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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