Tech Talk for Thursday April 18th 2024
U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points at 8:35 AM EDT.
S&P 500 futures were unchanged following release of the April Philly Fed Index at 8:30 AM EDT. Consensus was unchanged versus a gain of 3.2 in March. Actual was a gain of 15.5.
CSX added $0.54 to $34.70 after reporting higher than consensus first quarter earnings.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0015-1.png "clip_image001[5]")
Alcoa gained $1.05 to $36.70 after reporting higher than consensus first quarter revenues.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0025-2.png "clip_image002[5]")
Equifax dropped $19.80 to $217.88 after noting that weaker mortgage demand is weighing on its business.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0035.png "clip_image003[5]")
DR Horton advanced $4.24 to $149.98 after offering positive revenue and earnings guidance.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/04/clip_image0045-2.png "clip_image004[5]")
Technical Notes
Semiconductor iShares $SOXX moved below $212.44 and Semiconductor ETF $SMH moved below $212.82 completing a double top pattern.
KLA $KLA a NASDAQ 100 stock moved below $668.70 completing a double top pattern.
ASML $ASML a NASDAQ 100 stock moved below $928.00 completing a double top pattern.
AMEX Biotech ETF $FBT moved below $144.27 setting an intermediate downtrend.
Pfizer $PFE a Dow Jones Industrial Average stock moved below $25.38 extending an intermediate downtrend.
Saputo $SAP.TO a TSX 60 stock moved below Cdn$25.40 extending an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 17th 2024
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for April 17th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 17th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Bitcoin Halving Could Bring Massive Upside! Dave Keller
Bitcoin Halving Could Bring Massive Upside! - YouTube
Chart Check on the S&P 500 with Carter Braxton Worth
Chart Check on the S&P 500 with Carter Braxton Worth - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 0.80 to 30.00. It remains Oversold. Daily trend remains down.
The long term Barometer added 0.20 to 69.00. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer slipped 0.45 to 49.55. It remains Neutral. Daily trend remains down.
The long term Barometer was unchanged at 63.39. It remains Overbought. Daily trend remains down.
Disclaimer: Seasonality ratings 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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