Tech Talk for Friday April 4th 2025

Pre-opening Comments for Friday April 4th

U.S. equity index futures were sharply lower this morning. S&P 500 futures were down 157 points at 8:35 AM EDT.

Index futures responded partially to China's retaliation to U.S. tariffs with a 34% tariff on U.S. imported goods.

S&P 500 futures dropped an additional 9 points at 8:35 AM EDT following release of the March U.S. Non-farm Payrolls at 8:30 AM EDT. Consensus was a drop to 140,000 from 151,000 in February. Actual was an increase to 228,000. March Unemployment Rate was expected to remain unchanged at 4.1% in February. Actual was an increase to 4.2%. March Average Hourly Earnings were expected to increase 0.3% versus unchanged in February. Actual was a 0.3% increase. On a year-over-year basis, March Average Hourly Earnings were expected to increase 3.9% versus a 4.0% gain in February. Actual was a 3.8% increase.

The Canadian Dollar dropped 0.17 to US70.32 cents following release of Canada's March Employment Change released at 8:30 AM EDT. Consensus was a 10,000 increase from a 1,100 increase in February. Actual was a 32,900 drop. Consensus for March Unemployment Rate was unchanged at 6.6%. Actual was an increase to 6.7%

Magnificent 7 ETF plunged $2.01 to $41.93 in response to increasing tariff wars.

Tesla plunged $15.50 to $251.69 following news of China's tariffs on U.S. goods.

KraftHeinz dropped $0.18 to $30.63 after Citigroup downgraded the stock from Neutral to Sell.

EquityClock's Market Outlook for April 4th

The bond market is saying A LOT about where we are in this economic and stock market cycle. See:

The bond market is saying A LOT about where we are in this economic and stock market cycle. (equityclock.com)

Technical Notes for Friday

Notable Sector ETFs breaking intermediate support yesterday included:

S&P 100 and NASDAQ 100 stocks breaking intermediate support yesterday included:

S&P 100 and NASDAQ 100 stocks moving above intermediate resistance included

TSX 60 stocks breaking intermediate support included

Yield on 10 year U.S. Treasuries

It dropped below intermediate support at 4.126% and 4.106% to a six month low completing a Head & Shoulders pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 3rd 2025

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 3rd 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 3rd 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Kudlow breaks down the impact of Trump's tariff agenda

https://www.youtube.com/watch?v=dRObS4OfJlg

China vows countermeasures if U.S. doesn’t immediately cancel tariffs

https://www.youtube.com/watch?v=MDzFeBGo7KU

Canada's prime minister reacts to Trump's tariffs

Canada's prime minister reacts to Trump's tariffs - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer plunged 10.40 to 32.40. It changed from Neutral to Oversold on a drop below 40.00.

The long term Barometer plunged 12.40 to 37.40. It changed from Neutral to Oversold on a move below 40.00.

TSX Momentum Barometers

The intermediate term Barometer plunged 14.22 to 44.04. It remains Neutral.

The long term Barometer plunged 11.93 to 47.71. It remains Neutral.

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