Tech Talk for Friday April 9th 2021

U.S. equity index futures were mixed this morning. S&P 500 futures were up 2 points in pre-opening trade.

The Canadian Dollar added 0.17 to US79.64 cents following release of Canada's March Employment Report at 8:30 AM EDT. Consensus was an increase of 100,000 versus a gain of 259,200 in February. Actual was an increase of 303,100. Consensus for the March Unemployment Rate was an increase to 8.2% from 8.0% in February. Actual was a drop to 7.5%.

Levi Strauss added $0.88 to $25.95 after reporting higher than consensus first quarter sales and earnings. The company also raised guidance for the second quarter.

Walt Disney gained $1.08 to $188.25 after announcing the opening of its Avengers Campus at its Anaheim Park on June 4th

Honeywell added $4.33 to $224.19 after JP Morgan raised its target price from $200 to $250. Also, Deutsche Bank upgraded the stock from Hold to Buy.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/04/08/stock-market-outlook-for-april-9-2021/

Technical Notes for Thursday April 8th

Gold ETN (GLD) moved above $164.15 completing a double bottom pattern.

Yamana Gold (YRI), a TSX 60 stock moved above Cdn$5.85 completing a double bottom pattern.

Barrick Gold (ABX), a TSX 60 stock moved above Cdn$26.50 completing a double bottom pattern.

Technology SPDRs (XLK) moved above $138.95 to an all-time high extending an intermediate uptrend.

Mexico iShares (EWW) moved above $45.47 extending an intermediate uptrend.

Chile iShares (ECH) moved above $34.68 extending an intermediate uptrend.

Shopify (SHOP), a TSX 60 stock moved above intermediate resistance at US$1,190.00 and Cdn$1.490.00

Monster Beverage (MNST), a NASDAQ 100 stock moved above $95.11 to an all-time high extending an intermediate uptrend.

Costco (COST), an S&P 100 stock added $2.41 to $361.22 after announcing higher than consensus comp sales in March.

Ross Stores (ROST), a NASDAQ 100 stock moved above $126.78 to an all-time high extending an intermediate uptrend.

Exelon (EXC), an S&P 100 stock moved above $45.17 extending an intermediate uptrend.

Canopy Growth (WEED), a TSX 60 stock moved below Cdn$35.56 setting an intermediate downtrend. The stock responded to a cash and share acquisition valued at $435 million.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 8th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 8th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 8th 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

S&P 500 Momentum Barometer

The intermediate term Barometer added 2.40 to 90.58 yesterday. It remains Extremely Overbought.

The long term Barometer was unchanged at 94.99 yesterday. It remains Extremely Overbought.

TSX Momentum Barometer

The intermediate term Barometer added 4.75 to 83.98 yesterday. It changed from Overbought to Extremely Overbought on a move above 80.00.

The long term Barometer added 0.87 to 81.07 yesterday. It remains Extremely 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