Tech Talk for Thursday April 25th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 point in pre-opening trade.

Index futures were mixed following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 200,000 from 193,000 last week. Actual was 230,000. Consensus for March Durable Goods Orders was an increase of 0.8% versus a revised decline of 1.1 in February. Actual was an increase of 2.7%. Excluding Transportation Orders, consensus for March Durable Goods Orders was an increase of 0.2% versus a revised increase of 0.1% in February. Actual was an increase of 0.4%.

Microsoft (MSFT $125.01) is expected to open higher after releasing higher than consensus fiscal third quarter sales and earnings. The company is slated today to be the first in the world to reach a market cap of $1trillion.

Facebook (FB $182.58) is expected to open higher on news of encouraging advertising revenue growth.

Chipotle (CMG $709.75) is expected to open higher after reporting higher than consensus first quarter sales and earnings.

MMM dropped $17.58 to $201.22 after reporting lower than consensus first quarter sales and earnings. The company also lowered guidance for 2019

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/04/24/stock-market-outlook-for-april-25-2019/

Note seasonality charts on the U.S. Energy sector, Crude Oil Days of Supply, Gasoline Days of Supply and New Home Sales.

Observations

The U.S. Dollar Index ETN continued to soar yesterday.

Conversely, the Euro, Canadian Dollar and Japanese Yen broke below intermediate support levels: Euro below111.76, Canadian Dollar below74.25 and Yen below 89.18. The British Pound also weakened.

Surprisingly, the CRB Index and its related ETN were virtually unchanged.

StockTwits released yesterday @EquityClock

Another Canadian oil stock breakout! PrairieSky Royalty $PSK.CA moved above $20.24 extending an intermediate uptrend.

Technical action by S&P 500 stocks to 10:00: Quiet. No intermediate breakouts. Breakdown: $RHI

Editor's Note: After 10:00 AM EDT, intermediate breakouts included TIF, VNO, EBAY, URI, NTRS, HSIC and FLIR. Breakdown: COP.

Wheat ETN $WEAT moved below $5.01 extending an intermediate downtrend.

CI Financial $CIX.CA moved above $19.25 completing a reverse Head & Shoulders pattern.

Intact Financial $IFC.CA moved below support at $107.78 completing a double top pattern.

NASDAQ Composite Index $COMPQ briefly moved above 8,133.30 to an all-time high extending an intermediate uptrend

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 24th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 24th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 24th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 0.40 to 74.40 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 1.51 to 62.34 yesterday. It remains intermediate 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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