U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM EDT.
Netflix dropped $22.56 to $588.00 despite reporting a higher than consensus increase in subscribers. Also, first quarter revenues and earnings beat consensus.
KB Homes gained $1.59 to $62.00 after the company lifted its dividend by 25% and authorized a $1 Billon share buyback program.
PPG Industries dropped $0.57 to $134.54 after reporting less than consensus first quarter revenues. The company also announced a $2.5 billion share buyback program.
Procter & Gamble dropped $1.39 to $155.50 after reporting less than consensus first quarter revenues.
Technical Notes
Technology SPDRs $XLK moved below $196.74 extending an intermediate downtrend.
Lam Research $LRCX a NASDAQ 100 stock moved below $905.60 completing a double top pattern.
QualComm $QCOM an S&P 100 stock moved below $163.63 completing a double top pattern.
Thermo Fisher $TMO an S&P 100 stock moved below intermediate support at $534.06
Intuitive Surgical $ISRG a NASDAQ 100 stock moved below $371.00 extending an intermediate downtrend.
Monster Beverages $MNST a NASDAQ 100 stock moved below $53.54 extending an intermediate downtrend.
Cadence Design Systems $CDNS a NASDAQ 100 stock moved below$284.79 extending an intermediate downtrend
Take Two Interactive $TTWO a NASDAQ 100 stock moved below $141.45 extending an intermediate downtrend.
UnitedHealth Group $UNH a Dow Jones Industrial Average stock moved above intermediate resistance at $496.20.
Wells Fargo $WFC an S&P 100 stock moved above $58.44 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 18th 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 18th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 18th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Semiconductors Are at CRITICAL Level! David Keller
Semiconductors Are at CRITICAL Level! - YouTube
Warning Signs of Worsening Market Conditions: Dave Landry
Warning Signs of Worsening Market Conditions - YouTube
Morgan Stanley analyst weighs in on AI stocks to watch: Stephen Burd
Morgan Stanley analyst weighs in on AI stocks to watch - YouTube
This is Just the Beginning of the CRASH: Jeff Huge
This is Just the Beginning of the CRASH - YouTube
Bostic Says Fed Likely Won’t Cut Rates Until End of Year
Bostic Says Fed Likely Won’t Cut Rates Until End of Year - YouTube
Cracks Appearing in the Markets Foundation: Tom Bowley
Cracks Appearing in the Markets Foundation - YouTube
MoneyTalk – Federal Budget 2024: The highlights and the economic implications
MoneyTalk – Federal Budget 2024: The highlights and the economic implications - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 0.80 to 30.80. It remains Overbought.
The long term Barometer was unchanged at 69.00. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 0.89 to 50.45. It remains Neutral.
The long term Barometer added 1.34 to 64.73. 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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