Tech Talk for Thursday April 11th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Index futures responded to encouraging news on China/U.S. trade negotiations.

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for the March Producer Price Index was an increase of 0.3% versus a gain of 0.2% in February. Actual was an increase of 0.6%. Excluding food and energy, consensus for the March Producer Price Index was an increase of 0.2% versus a gain of 0.1% in February. Actual was unchanged. Consensus for Weekly Jobless Claims was 211,000 versus 202,000 last week. Actual was 196,000, lowest level since 1969.

Costco (COST $245.61) is expected to open lower after reporting lower than consensus March sales.

Bed Bath & Beyond (BBBY $19.41) is expected to open lower after fourth quarter revenues came in lower than consensus.

Chipotle dropped $8.43 to $710.42 after Jefferies downgraded the stock to Hold from Buy.

Tesla (TSLA $276.06) is expected to open lower after plans to expand its Gigafactory were put on Hold.

EquityClock's Daily Market

Following is a link:

http://www.equityclock.com/2019/04/10/stock-market-outlook-for-april-11-2019/

Note seasonality charts on the Technology sector, Crude Oil Days of Supply, Gasoline Days of Supply and U.S. Consumer Prices.

StockTwits released yesterday @EquityClock

US Consumer Price Index up 0.6% (NSA) in March, marginally stronger than the 0.5% increase that is average for the month. $MACRO #CPI

Russian ETF $RSX moved above $21.55 extending an intermediate uptrend.

Another Canadian energy stock breakout! Freehold Royalties $FRU.CA moved above $9.24 extending an intermediate uptrend.

Cascade $CAS.CA moved above $8.62 completing a base building pattern.

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakouts: $PEG $FTNT. No breakdowns

Editor's Note: After 10:00 AM EDT, breakouts included VLO, FTX and A. No breakdowns.

TSX Energy ETF $XEG.CA moved above $10.36 extending an intermediate uptrend. ‘Tis the season for strength to mid-June!

Another Cdn. oil stock breakout! Imperial Oil $IMO.CA, a TSX 60 stock moved above $37.79 completing a base building pattern

Another Cdn. energy ETF breakout! BMO Equal Weight Energy ETF $ZEO.CA moved above $45.86 extending an intermediate uptrend

Technology SPDRs $XLK moved above $76.69 to an all-time high extending an intermediate uptrend.

Israel iShares $EIS moved above $55.41 extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 10th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 10th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 10th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 2.81 to 80.56 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer slipped 0.41 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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