Tech Talk for Friday April 24th 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 21 points in pre-opening trade. Index futures responded to news that the House of Representatives passed a bill to support workers during the coronavirus pandemic.

Index futures were virtually unchanged following release of March Durable Goods Orders at 8:30 AM EDT. Consensus was a drop of 11.9% versus a gain of 1.2% in February. Actual was a drop of 14.4. Excluding transportation orders, consensus was a drop of 5.8% versus a decline of 0.6% in February. Actual was a decline of 0.2%.

Verizon added $0.49 to $58.08 after reporting higher than consensus adjusted first quarter earnings.

Travelers slipped $0.44 to $100.01 after Raymond James downgraded the stock from Market Perform to Underperform.

eBay added $0.69 to $38.60 after Stifel Nicolaus upgraded the stock from Hold to Buy.

American Express gained $2.40 to $84.86 after reporting higher than consensus adjusted first quarter earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/04/23/stock-market-outlook-for-april-24-2020/

Note seasonality charts on Gilead and New Home Sales

StockTwits released yesterday @EquityClock

More precious metal producer stock breakouts! Hecla Mining $HL moved above $2.53 resuming an intermediate uptrend.

Union Pacific $UNP, an S&P 500 stock moved above $153.51 on better than consensus earnings resuming an intermediate uptrend.

US New Home Sales fell by 7.6% (NSA) in March, a negative divergence compared to the 15.5% increase that is average for this time of year. $MACRO $STUDY #Economy #Housing

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 23rd 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for April 23rd 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 23rd 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 0.20 to 30.86 yesterday. It remains intermediate oversold.

TSX Momentum Barometer

The Barometer added 0.44 to 33.63 yesterday. It remains intermediate oversold.

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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