Tech Talk for Thursday April 21st 2022
U.S. equity index futures were higher this morning. S&P 500 futures were up 38 points at 7:30 AM EDT.
The April Philly Fed Index to be released at 8:30 AM EDT is expected to slip to 20.9 from 27.4 in March.
Focus is on Federal Reserve Chairman Powell's speech at 1:00 PM on monetary policy.
Tesla gained $49.38 to $1,026.50 after reporting higher than consensus first quarter revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/04/clip_image0011-7.png "clip_image001[1]")
United Airlines jumped $3.53 to $50.05 after reporting higher than consensus first quarter results. The company also issued favourable second quarter guidance.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/04/clip_image0021-12.png "clip_image002[1]")
Lam Research dropped $8.45 to $473.13 after reporting lower than consensus fiscal third quarter results.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/04/clip_image0031-8.png "clip_image003[1]")
CSX added $1.00 to $36.30 after reporting higher than consensus first quarter earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2022/04/clip_image0041-6.png "clip_image004[1]")
EquityClock's Daily Comment
Headline reads "As demand destruction for energy products materializes, it is time to tighten up the stops on energy stocks and/or rotate to other energy sector beneficiaries.
Following is a link:
http://www.equityclock.com/2022/04/20/stock-market-outlook-for-april-21-2022/
Interview with Javid Mirza from Canaccord Genuity
https://www.youtube.com/watch?v=KBirCwtP11M
Technical Notes released yesterday at
Commentators are highlighting the extreme bearish sentiment of investors as reason the market should rally, but looking at how investors are positioning rather than what they are saying provides an alternate viewpoint of the state of the market. equityclock.com/2022/04/19/… $MACRO $STUDY #Sentiment
Lumber & Forest Products iShares $WOOD moved above $93.12 resuming an intermediate uptrend.
Netflix $NFLX a NASDAQ 100 stock moved below $329.82 extending an intermediate downtrend.
Canopy Growth $WEED.CA a TSX 60 stock moved below $7.22 extending an intermediate downtrend.
KraftHeinz $KHC an S&P 100 stock moved above $47.10 extending an intermediate uptrend.
MetLife $MET an S&P 100 stock moved above $72.55 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 20th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for April 20th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 20th 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
Mark Bunting and www.uncommonsenseinvestor.com offered the following:
Five of the Best Stocks for the Rest of 2022 – Uncommon Sense Investor
Greg Schnell notes "Yield stall at major trend lines".
https://stockcharts.com/articles/canada/2022/04/yields-stall-at-major-trend-li-391.html
S&P 500 Momentum Barometers
The intermediate term Barometer added 3.41 to 64.53 yesterday. It remains Overbought.
The long term Barometer added 2.20 to 52.71 yesterday. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer added 0.57 to 62.39 yesterday. It remains Overbought.
The long term Barometer added 1.06 to 66.06 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.
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