Tech Talk for Friday April 17th 2020
U.S. equity index futures were higher this morning. S&P 500 futures advanced 74 points in pre-opening trade. Index futures responded to encouraging signs that COVID 19 has passed its peak in the U.S.
Gilead gained $8.26 to $84.88 after reporting encouraging drug tests that reduced COVID 19 symptoms.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/04/clip_image0011-5.png "clip_image001[1]")
Boeing added $11.87 to 146.11 after announcing a resumption of commercial aircraft production at its Washington State facility.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/04/clip_image0021-6.png "clip_image002[1]")
Procter & Gamble added $0.12 to $121.62 after reporting higher than consensus fiscal third quarter earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/04/clip_image0031-5.png "clip_image003[1]")
Apple added $0.91 to $287.60 despite a downgrade by Goldman Sachs to Sell. Target was set at $233.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/04/16/stock-market-outlook-for-april-17-2020/
Note seasonality charts on Initial Jobless Claims and U.S. Housing Starts.
StockTwits released yesterday @EquityClock
Abbott Labs $ABT, an S&P 100 stock moved above $92.06 to an all-time high extending an intermediate uptrend. The company released higher than consensus first quarter revenues and earnings.
Electronic Arts $EA, a NASDAQ 100 stock moved above $114.13 extending an intermediate uptrend.
NetEase $NTES, a NASDAQ 100 stock moved above $359.86 extending an intermediate uptrend.
Editor's Note: The stock subsequently moved above $361.65 to an all-time high.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for April 16th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for April 16th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 16th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer added 3.42 to 27.77 yesterday. It remains intermediate oversold and trending higher.
TSX Momentum Barometer
The Barometer added 0.55 to 23.89 yesterday. It remains intermediate oversold and trending 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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