Tech Talk for Friday April 12th 2019
U.S. equity index futures moved higher this morning. S&P 500 futures were up 15 points in pre-opening trade. Index futures responded to encouraging economic news released by China.
Anadarko advanced $13.90 to $60.70 and Chevron dropped $6.20 to $119.70 after Chevron made a $33 billion cash and share offer to acquire the company. Estimated per share value of offer is $65.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/04/clip_image0011-5.png "clip_image001[1]")
JP Morgan advanced $2.65 to $108.88 after reporting higher than consensus first quarter earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/04/clip_image0021-7.png "clip_image002[1]")
Wells Fargo (WFC $47.74) is expected to open higher after reporting higher than consensus first quarter earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/04/clip_image0031-6.png "clip_image003[1]")
Boeing gained $3.03 to $373.19 after announcing successful test flights using updated software on its 737 Max aircraft.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/04/clip_image0041-7.png "clip_image004[1]")
Mosaic dropped $0.45 to $26.44 after halting operations at its phosphate mine in Brazil.
![clip_image005[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/04/clip_image0051.png "clip_image005[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/04/11/stock-market-outlook-for-april-12-2019/
Observation
Recovery by U.S. Financial services yesterday was led by Insurance stocks.
StockTwits released yesterday @EquityClock
Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakouts: $HRB $PHM. No breakdowns
Editor's Note: After 10:00 AM EDT, intermediate breakouts included CBS, SYY, L and FLS. Breakdown: UNH.
Manulife Financial $MFC.CA, a TSX 60 stock moved above $23.84 extending an intermediate uptrend.
Another Canadian energy stock breakout! Crew Energy $CR.CA moved above $1.29 extending an intermediate uptrend.
Eurozone ETF $EZU moved above $39.84 extending an intermediate uptrend.
National Bank $NA.CA, a TSX 60 stock moved above $62.47 extending an intermediate uptrend.
Enbridge $ENB.CA, a TSX 60 sock moved above $49.57 extending an intermediate uptrend.
Pembina Pipeline $PPL.CA moved above $50.26 to an all-time high extending an intermediate uptrend.
Another Cdn. pipeline breakout! Inter Pipeline $IPL.CA, a TSX 60 stock moved above $22.39 extending an intermediate uptrend
Shopify $SHOP.CA moved above $210.10 to an all-time high extending an intermediate uptrend.
UnitedHealth Group $UNH, a Dow Jones Industrial stock moved below $233.62 extending an intermediate downtrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for April 11th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for April 11th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 11th 2019
Green: Increase from previous day
Red: Decrease from previous day
Keith Richard's Blog
Headline reads, "Have your cake and eat it too: a new strategy for trading value stocks".
Following is a link:
https://www.valuetrend.ca/have-your-cake-eat-it-too-a-new-strategy-for-trading-value-stocks/
S&P 500 Momentum Barometer
The Barometer added 0.20 to 80.76 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
The Barometer dropped 1.65 to 70.37 yesterday. It remains intermediate overbought and showing signs of rolling over.
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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