Tech Talk for Thursday April 23rd 2020

U.S. equity index futures were slightly higher this morning. S&P 500 futures were up 5points in pre-opening trade.

Index futures were virtually unchanged following release of the Weekly Jobless Claims report at 8:30 AM EDT. Consensus was 4.300 million versus 5.245 million last week. Actual was 4.427 million

Target (TGT $106.84) is expected to open higher after reporting higher than consensus same store sales in April.

Gap dropped $0.20 to $6.91 after the company withdrew guidance, suspended share buybacks and cut its capital spending program by $300 million.

Hershey fell $3.41 to $139.87 after reporting lower than consensus first quarter earnings.

Biogen dropped $3.01 to $295.00 after Raymond James downgraded the stock from Market Perform to Under Perform.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/04/22/stock-market-outlook-for-april-23-2020/

Note seasonality chart on Canada's Consumer Price Index.

Technical Scoop

David Chapman and www.EvolveInvesting.com released a special report on crude oil. Following is a link:

http://enrichedinvesting.com/wp-content/uploads/2020/04/Technical-Scoop-Oil-Commentary.pdf

StockTwits released yesterday @EquityClock

Johnson & Johnson $JNJ, a Dow Jones Industrial stock moved above $153.52 to an all-time high extending an intermediate uptrend.

Editor's Note: Bank of America upgraded the stock

Gold producer stocks continue to move higher. Yamana Gold $YRI.CA moved above $6.53 to a 3 year high extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for April 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Greg Schnell's "Market Buzz"

Greg discusses the wild ride in Crude Oil futures prices. Following is a link:

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

S&P 500 Momentum Barometer

The Barometer added 8.82 to 30.66 yesterday. It remains intermediate oversold.

TSX Momentum Barometer

The Barometer gained 8.41 to 33.19 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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