Tech Talk for Thursday April 14th 2022

U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.

Index futures moved lower following release of the March Retail Sales report at 8:30 AM EDT. Consensus was an increase of 0.6% versus a gain of 0.2% in February. Actual was an increase of 0.5%. Excluding auto sales, consensus was an increase of 0.7% versus a gain of0.2% in February. Actual was an increase of 1.1%.

Twitter jumped $3.19 to $49.04 after Elon Mush offered to buy the company at $54.20 per share cash. Value of the offer is $43 billion.

UnitedHealth Group added $2.80 to $539.80 after reporting higher than consensus first quarter earnings.

Wells Fargo dropped $1.66 to $46.88 after reporting less than consensus first quarter revenues.

Citigroup added $0.85 to $51.00 after reporting higher than consensus adjusted first quarter earnings.

EquityClock's Daily Comment

Headline reads "Shipping volumes remained sluggish through the month of March, presenting a warning for the health of the broader economy".

Following is a link:

http://www.equityclock.com/2022/04/13/stock-market-outlook-for-april-14-2022/

Technical Notes released yesterday at

StockTwits.com@EquityClock

US Consumer Prices jumped by another 1.3% in March , which is more than double the 0.5% increase that is average for this time of the year. With a year-to-date increase of 3.1%, the change in consumer prices has already surpassed the increase that has been average for an entire year. $STUDY $MACRO $TIP $IEF #Economy #CPI

As we enter earnings season with reports from some of the major banks, the technical setup for these financial institutions is concerning. equityclock.com/2022/04/12/… $JPM $TD $BMO $CM $BNS $RY $XFN.CA $ZEB.CA

After a strong start to the year, Total Energy Product Supplied has now slipped below its seasonal average trend as high prices weigh on activity. The metric of demand is now lower on the year by 4.5%, below the 1.4% decline that is average through this point in the year. $XLE $XOP $USO $CL_F $MACRO $STUDY

With a 3.0% jump in March alone, the 7.4% rise in Producer Prices Final Demand through the first quarter of 2022 is the fastest rise in inflationary pressures for this time of year on record. The average increase through the first quarter is a mere 1.2%. $MACRO $STUDY #Economy #PPI

JP Morgan $JPM a Dow Jones Industrial Average stock moved below $126.33 extending an intermediate downtrend following release of lower than consensus first quarter results.

TSX Financials iShares $XFN.CA moved below $49.90 and $49.78 completing a Head & Shoulders pattern.

Junior Gold ETF $GDXJ moved above $50.29 extending an intermediate uptrend.

Gold Bug Index $HUI moved above $327.03 extending an intermediate uptrend.

Metals & Mining SPDRs $XME moved above $63.70 to an all-time high extending an intermediate uptrend.

Steel ETF $SLX moved above $69.80 to a 14 year high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 13th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 13th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 13th 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 (except TSX)

Links from Valued Providers

Comments from Mark Bunting and www.uncommonsenseinvestor.com

Three Rip Van Winkle Stocks – Uncommon Sense Investor

Five Reasons the Worst May Be Over for Stocks – Uncommon Sense Investor

John Kosar from www.StockCharts.com says "Market on the verge of a steeper decline".

https://www.youtube.com/watch?v=y8pxca_B9-8

S&P 500 Momentum Barometers

The intermediate term Barometer added 4.41 to 55.31 yesterday. It remains Neutral.

The long term Barometer added 1.40 to 48.90 yesterday. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer added 7.63 to 62.50 yesterday. It changed from Neutral to Overbought on a move above 60.00.

The long term Barometer added 1.89 to 63.39 yesterday. It remains 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.