Tech Talk for Thursday April 18th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade. Investors are waiting for release of the redacted version of the Mueller report at 9:30 AM EDT.

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 205,000 from 196,000 last week. Actual was 192,000. Consensus for the April Philly Fed Index was a slip to 10.3 from 13.7 in March. Actual was 8.5. Consensus for March Retail Sales was an increase of 1.0% versus a decline of 0.2% in February. Actual was an increase of 1.6%.

The Canadian Dollar was virtually unchanged at 74.74 cents U.S. after release of February Canadian Retail Sales at 8:30 AM EDT. Consensus was an increase of 0.4% versus a decline of 0.3% in January. Actual was an increase of 0.8%. Excluding auto sales, consensus for February Retail Sales was an increase of 0.3% versus a gain of 0.1% in January. Actual was an increase of 0.6%.

Alcoa (AA $$27.72) is expected to open lower after reporting lower than consensus first quarter earnings.

United Rental (URI $125.76) is expected to open higher after reporting higher than consensus first quarter earnings.

Travelers (TRV $135.87) is expected to open higher after reporting higher than consensus first quarter sales and earnings.

American Express (AXP $111.76) is expected to open lower after reporting lower than consensus first quarter revenues.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/04/17/stock-market-outlook-for-april-18-2019/

Note seasonality charts on the Technology sector relative to the S&P 500 Index and the Healthcare sector relative to the S&P 500 Index.

Observations

Nice reverse Head & Shoulders pattern completed by the Auto ETF on a move above $34.92!

Nice breakout by the Fertilizer/Potash ETF above $9.72 setting an intermediate uptrend.

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakouts: $PVH $RL $FANG $CBOE $CAT $CTAS $LMT $TXT $UNP $GOOGL $GOOG $ICE

Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakdowns: $BK $BDX $PFE $ZBH $VZ $D $VTR $MNK $VRTX

Editor's Note: After 10:00 AM EDT, breakout included NKE. Breakdowns included UDR, VNO, ALXN, ISRG, LH, WAT, NKTR and IP.

Caterpillar $CAT, a Dow Jones Industrial stock moved above $142.55 extending an intermediate uptrend.

Alphabet $GOOGL $GOOG, one of the FAANG stocks moved above $1236.44 and $1231.79 respectively extending an intermediate uptrend.

Verizon $VZ, a Dow Jones Industrial stock moved below $57.73 setting an intermediate downtrend

Editor's Note: U.S. Healthcare stocks had a rough day on higher than average volume! See the following charts:

Pfizer $PFE, a Dow Jones Industrial stock moved below $40.34 setting an intermediate downtrend.

Biotech ETFs $IBB $BBH $FBT moved below support completing a double top pattern.

U.S. Medical Devices ETF $IHI moved below $219.89 setting an intermediate downtrend.

U.S. Healthcare Providers $IHF moved below $155.90 extending an intermediate downtrend. Individual breakdowns: $ISRG $LH.

Aerospace & Defense ETF $PPA moved above $59.95 extending an intermediate uptrend.

Another base metal stock breakout! First Quantum Minerals $FM.CA moved above $36.37 extending an intermediate uptrend.

Editor's Note: A breakout by copper above $2.97 helped First Quantum as well as other base metal stocks/ETFs XBM.TO ZMT.TO COPX

South Africa iShares $EZA moved above $57.81 extending an intermediate uptrend

Aecon $ARE.CA moved below $16.90 extending an intermediate downtrend.

Bank of Montreal $BMO.CA, a TSX 60 stock moved above $104.60 extending an intermediate uptrend.

Canada #CPI up 0.7% in March, firmly above the average change for the month of 0.5%. $MACRO #CDNecon #CAD

Norbord $OSB.CA moved below $32.87 extending an intermediate downtrend.

NASDAQ 100 Index $NDX moved above 7700.56 to an all-time high extending an intermediate uptrend. Ditto for $QQQ on a move above $186.66

Agnico Eagle Gold $AEM $AEM.CA moved below $41.47 U.S. setting an intermediate downtrend.

Vermillion $VET.CA moved above $35.79 extending an intermediate uptrend.

Editor's Note: Canadian energy stocks moved higher following election of the United Conservative party in Alberta with a favourable energy agenda.

Franco-Nevada $FNV $FNV.CA, a TSX 60 stock moved below $70.95 U.S. and $94.64 Cdn setting an intermediate downtrend.

Nike $NKE, a Dow Jones Industrial stock moved above $88.59 to an all-time high extending an intermediate uptrend.

Crude Oil imports negatively diverging from its seasonal average trend as US becomes less dependent on foreign energy. $USO $UGA $XLE $XOP

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 17th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 17th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 17th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer dropped 7.15 to 70.40 yesterday. It remains intermediate overbought and has rolled over.

TSX Momentum Barometer

The Barometer dropped another 1.39 to 61.57 yesterday. It remains intermediate overbought and is trending down.

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

Reminder

North American and many international equity markets are closed tomorrow in honour of Good Friday.

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