Tech Talk for Thursday April 16th 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade.

Index futures moved higher following release of economic news at 8:30 AM EDT. Consensus for March U.S. Housing Starts was a drop to 1.307 million units from 1.599 million in February. Actual was 1.216 million. Consensus for the April Philly Fed Index was a drop to -30.00 from -12.7 in March. Actual was -56.0. Consensus for Weekly Jobless Claims was a drop of 5.00 million versus a drop of 7.450 million last week. Actual was a drop of 5.245 million.

Costco advanced $0.73 to $311.00 after raising its dividend by 8%.

Bed Bath & Beyond gained $0.52 to $4.96 after reporting a surprise profit in fiscal fourth quarter.

Abbott Labs improved $0.94 to $91.88 after reporting higher than consensus first quarter revenues and earnings.

Twitter slipped $0.51 to $27.00 after JP Morgan downgraded the stock from Overweight to Neutral.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/04/15/stock-market-outlook-for-april-16-2020/

Note seasonality charts on U.S. Retail Trade and Industrial Production.

StockTwits released yesterday @EquityClock

The hoarding mentality was rampant in March, resulting in a 30.8% (NSA) increase in grocery store sales for the month. The average change for this time of year is +9.3%. $MACRO $STUDY #Economy #Coronavirus #COVID19

JD.com $JD, a NASDAQ 100 stock moved above $45.34 extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 15th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for April 15th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 15th 2020

Green: Increase from previous day

Red: Decrease from previous day

Greg Schnell's "Market Buzz"

Greg reviews the gold and technology sectors. Following is a link:

https://www.youtube.com/watch?v=ZdARMRMaP8w&feature=youtu.be

S&P 500 Momentum Barometer

The Barometer dropped 7.04 to 24.35 yesterday. It remains intermediate oversold.

TSX Momentum Barometer

The Barometer dropped 6.04 to 23.35 yesterday. It remains intermediate oversold.

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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