Tech Talk for Friday April 28th 2023

U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points at 8:35 AM EDT.

Index futures were virtually unchanged following release of U.S. economic news at 8:30 AM EDT:

March PCE Price Index ex food & energy was expected to increase 0.2% versus a gain of 0.3% in February. Actual was an increase of 0.3%. On a year-over-year basis, March core PCE Price Index was expected to increase 4.5% versus a gain of 4.7% in February. Actual was an increase of 4.6%.

March Personal Income was expected to increase 0.2% versus a gain of 0.3% in February. Actual was an increase of 0.3%. March Personal Spending was expected to decrease 0.1% versus a gain of 0.2% in February. Actual was unchanged.

The Canadian Dollar was down 0.04 to US73.29 cents following release of Canada's February GDP at 8:30 AM EDT. Consensus was an increase 0.2% versus a gain of 0.5% in January. Actual was an increase of 0.1%. On a year-over-year basis, consensus was an increase of 2.6%. Actual was an increase of 2.5%.

Amazon dropped $2.52 to $107.30 despite reporting higher than consensus subscription revenues in the first quarter.

Intel gained $1.74 to $31.60 despite reporting its largest quarterly loss in its history. The company also reported higher than consensus first quarter revenues.

Pinterest dropped $3.52 to $23.75 after predicting higher operating expenses and lower revenues in the second quarter.

US Steel added $0.27 to $24.00 after offered positive second quarter guidance based on improving demand for steel.

Gilead slipped $0.80 to $82.75 after reporting less than consensus first quarter revenues and earnings.

EquityClock's Daily Comment

Headline reads "As core-cyclical sectors increasingly carve out head-and-shoulders topping patterns, Communications Services has carved out an opposing bottoming setup as its optimal holding period continues".

http://www.equityclock.com/2023/04/27/stock-market-outlook-for-april-28-2023/

Technical Notes

Semiconductor iShares $SOXX moved below intermediate support at $395.48.

Global Agriculture iShares $COW.TO moved below Cdn$63.55 extending an intermediate downtrend.

Caterpillar $CAT a Dow Jones Industrial Average stock moved below $207.81 extending an intermediate downtrend.

Monster Beverages $MNST a NASDAQ 100 stock moved above $54.52 to an all-time high.

S&P 100 stocks breaking intermediate support: Qualcomm $QCOM moved below $113.14.

Keurig Dr. Pepper $KDP moved below $33.82

NASDAQ 100 stocks breaking intermediate support: Analog Devices $ADI, Serius XM $SIRI

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 27th 2023

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 27th 2023

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 27th 2023

Green: Increase from previous day

Red: Decrease from previous day

Source for positive seasonal ratings: www.equityclock.com

Links offered by valued providers

The Wheels Of Hope | Greg Schnell, CMT | Market Buzz (04.26.23)

The Wheels Of Hope | Greg Schnell, CMT | Market Buzz (04.26.23) - YouTube

5 Charts You Need To Watch | Mary Ellen McGonagle | Your Daily Five (04.27.23)

https://www.youtube.com/watch?v=p-vlV7XltRc

Can We Get Some Follow Through, Please? | Tom Bowley | Trading Places (04.27.23)

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

Technical Chart of the Day

Technical score for Technology SPDRs increased from -2 to (2+0+1+1) =+4

Intermediate trend remained up: Score 2

Strength relative to the S&P 500 changed from Negative to Neutral: Score increased from -2 to 0

Units moved above their 20 day moving average: Score increased from -1 to +1

Daily momentum indicators (Stochastics, RSI, MACD) changed from down to up: Score increased from -1 to +1

S&P 500 Momentum Barometers

The intermediate term Barometer jumped 12.20 to 51.20. It changed from Oversold to Neutral on a recovery above 40.00.

The long term Barometer added 4.80 to 53.40. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer advanced 6.47 to 59.91. It remains Neutral.

The long term Barometer added 2.59 to 59.91. 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