Tech Talk for Thursday April 20th 2023
U.S. equity index futures were lower this morning. S&P 500 futures were down 33 points at 8:35 AM EDT.
Index futures dropped another 3 points following release of the April Philly Fed Index at 8:30 AM EDT. Consensus was a recovery to -19.9 from -23.2 in March. Actual was a drop to-31.3.
IBM advanced $2.60 to $129.00 after reporting higher than consensus first quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/04/clip_image0011-9.png "clip_image001[1]")
Las Vegas Sands gained $2.64 to $62.00 after reporting higher than consensus first quarter revenues. The company also offer positive second quarter guidance.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/04/clip_image0021-10.png "clip_image002[1]")
Lam Research dropped $4.08 to $486.94 after reporting less than consensus fiscal third quarter revenues.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/04/clip_image0031-9.png "clip_image003[1]")
Tesla fell $14.39 to $166.27 after reporting lower than consensus profit margins.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/04/clip_image0041-7.png "clip_image004[1]")
EquityClock's Daily Comment
Headline reads "Doubt pertaining to the demand backdrop in the energy market has led to the break of the trend of crack spreads, threatening our lone Accumulate candidate in the energy sector".
http://www.equityclock.com/2023/04/19/stock-market-outlook-for-april-20-2023/
Technical Notes
U.S. Bank SPDRs $KBE moved above $37.70 completing a double bottom pattern.
Medical Devices iShares $IHI moved above $56.14 extending an intermediate uptrend. Led by the breakout in ISRG.
Intuitive Surgical $ISRG a NASDAQ 100 stock moved above $285.09 on favourable first quarter results extending an intermediate uptrend.
CDW $CDW a NASDAQ 100 stock moved below $$184.34 and $174.83 extending an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 19th 2023
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for April 19th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 19th 2023
Green: Increase from previous day
Red: Decrease from previous day
Source for positive seasonal ratings: www.equityclock.com
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 1.20 to 59.20. It changed from Overbought to Neutral on a drop below 60.00.
The long term Barometer added 0.80 to 62.60. It remains Overbought. Daily trend remains up.
TSX Momentum Barometers
The intermediate term Barometer added 1.29 to 64.22. It remains Overbought. Daily trend remains up.
The long term Barometer slipped 1.72 ti 64.38. It remains Overbought.
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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