Tech Talk for Friday April 5th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.

Index futures moved higher following release of the March Employment Report at 8:30 AM EDT. Consensus for March Non-farm Payrolls is an increase to 170,000 from 20,000 in February. Actual was 196,000. Consensus for March Unemployment Rate is unchanged from February at 3.8%. Actual was unchanged at 3.8%. Consensus for March Hourly Earnings was an increase of 0.3% versus a gain of 0.4% in February. Actual was an increase of 0.1%.

The Canadian Dollar was virtually unchanged at 74.72 cents U.S. after release of the Canadian March Employment Report at 8:30 AM EDT. Consensus for March Employment was an increase of 6,000 versus a gain of 55,900 in February. Actual was a drop of 7,200. Consensus for March Unemployment Rate was unchanged from February at 5.8%. Actual was unchanged at 5.8%.

Chipotle (CMG $703.38) is expected to open higher after Stifel Nicolaus raised its target on the stock to $700 from $500.

Urban Outfitters added $1.64 to $33.41 after Wedbush raised its target price to $35 from $30.

Intel (INTC $55.92) is expected to open lower after Wells Fargo downgraded the stock to Market Perform from Outperform.

Viacom (VIAB $29.27) is expected to open higher after RBC Capital upgraded the stock to Outperform from Sector Perform.

EquityClock's Daily Market Comment

Following is a link:
http://www.equityclock.com/2019/04/04/stock-market-outlook-for-april-5-2019/

Note seasonality chart on Non-farm Payrolls.

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout:$SHW Breakdown: $CAH

Editor's Note: After 10:00 AM EDT, breakouts included CMCSA, HOG, KSS, ROST, MCHP and DISH. Breakdown: JNJ.

Gold ETN $GLD moved below $121.03 setting an intermediate downtrend.

Junior Gold Miners ETF $GDXJ moved below $30.60 setting an intermediate downtrend.

Editor's Note: Gold and gold equities/ETFs staged a strong recovery in late trading.

Platinum ETN $PPLT moved above $82.84 and $83.11 completing a double bottom pattern.

Altagas $ALA.CA moved above $18.04 extending an intermediate uptrend

Home Builder ETF $XHB moved above $39.44 extending an intermediate uptrend.

Vermillion Energy $VET.CA moved below $32.40 setting an intermediate downtrend.

Dow Jones Industrial Average $INDU moved above its November high set at 26,277.82.

Johnson & Johnson $JNJ, a Dow Jones Industrial stock moved below $135.74 completing a double top pattern.

Goldcorp $G.CA $GG, a TSX 60 stock moved above $15.42 Cdn. extending an intermediate uptrend (Editor's Note: The company approved the merger with Newmont Mining)

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 4th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 2.00 to 80.76 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer gained 4.94 to 72.02 yesterday. It remains intermediate overbought.

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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