Tech Talk for Friday April 30th 2021

Seagen (SGEN), a NASDAQ 100 stock moved below $134.51 extending an intermediate downtrend.

Fiserv (FISV), a NASDAQ 100 stock moved below $118.54 completing a double top pattern.

Pre-opening Comments for Friday April 30th

U.S. equity index futures were lower this morning. S&P 500 futures were down 23 points in pre-opening trade.

Equity index futures moved slightly lower following release of U.S. March Personal Income and March Personal Spending at 8:30 AM EDT. Consensus for March Personal Income was an increase of 20.3% versus a decline of 7.1% in February. Actual was an increase of 21.1%. Consensus for March Personal Spending was an increase of 4.3% versus a decline of 1.0% in February. Actual was an increase of 4.2%.

The Canadian Dollar was virtually unchanged at US81.47 cents following release of Canada's February GDP at 8:30 AM EDT. Consensus was an increase of 0.5% versus a gain of 0.7% in January. Actual was an increase of 0.4%.

Amazon advanced $140.48 to an all-time high at $3,592.00 after reporting higher than consensus first quarter revenues and earnings. The company also raised guidance. Target price on the stock was raised by Stifel Nicolaus, Raymond James, Wedbush, JP Morgan, Deutsche Bank, Mizuho and Susquehanna.

Twitter dropped $6.20 to $58.89 after reporting lower than consensus first quarter revenues. The company also lowered guidance for the second quarter. Target price on the stock was reduced by Stifel Nicolaus, Wedbush, JP Morgan, Deutsche Bank and KeyBanc Capital.

Gilead dropped $1.70 to $62.14 after reporting lower than consensus first quarter revenues.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/04/29/stock-market-outlook-for-april-30-2021/

Technical Notes for Thursday April 29th

Bank of America (BAC), an S&P 100 stock moved above $40.38 extending an intermediate uptrend.

Facebook (FB), an S&P 100 stock moved above $315.88 to an all-time high extending an intermediate uptrend.

QUALCOMM (QCOM), an S&P 100 stock moved above $140.68 extending an intermediate uptrend.

U.S. Broker iShares (IAI) moved above $97.84 to an all-time high extending an intermediate uptrend.

American International Group (AIG), an S&P 100 stock moved above $49.00 extending an intermediate uptrend.

NASDAQ Composite Index moved above 14,175.12 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 29th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 29th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 29th 2021

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index

Changes in Seasonality Ratings

• S&P 500 Index changes from Positive on May 5th to Neutral to October 7th

• Dow Jones Transportation changes from Positive on May 5th on a real and relative basis to Neutral on a real and relative basis to October 1st
• TSX Composite Index changed from Negative on May 1st on a relative basis (relative to the S&P 500 Index) to Positive to June 2nd. It remained Positive on a real basis to June 2nd.
• Europe iShares (IEV) changed from Positive on a real basis on May 1st to Negative until June 28th. They changed from Positive on a relative basis on May 1st to Negative until July 15th
• CRB Index changes from Negative on a relative basis on May 5th to Neutral to July 10th. It remained Positive on a real basis to July 10th
• Consumer Discretionary SPDRs changed on a real and relative basis from Positive on April 30th to Neutral until September 30th
• Consumer Staples SPDRs changed on a relative basis from Negative on May1st to Positive until August 15th. They currently are Positive on a real basis until September 17th

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 0.80 to 87.78 yesterday. It remains Extremely Overbought.

The long term Barometer added 0.60 to 95.19 yesterday. It remains Extremely Overbought.

TSX Momentum Barometers

The intermediate term Barometer slipped 3.50 to 72.50 yesterday. It remains Overbought.

The long term Barometer dropped 2.50 to 79.50 yesterday. It changed from Extremely Overbought to Overbought on a move below 80.00.

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