Tech Talk for Tuesday April 14th 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 42 points in pre-opening trade.

JP Morgan gained $1.69 to $99.88 after reporting higher than consensus first quarter Net Interest Income.

Johnson & Johnson advanced $4.89 to $144.66 after reporting higher than consensus first quarter earnings. The company also raise its dividend.

Wells Fargo advanced $0.47 to $31.90 after reporting first quarter results.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/04/11/stock-market-outlook-for-april-14-2020/

Note seasonality chart on Canadian Employment.

StockTwits released yesterday @EquityClock

Base Metals ETN (one third each in copper, zinc and aluminum) $DBB moved above $12.47 completing a short term base building pattern. Also positive for base metal stocks and related ETFs $XBM.CA $ZMT.CA $PICK $COPX

Gold ETN $GLD moved above $159.37 to a 7 year high extending an intermediate uptrend.

Gold stocks are responding to higher gold bullion prices. Franco-Nevada $FNV.CA, a TSX 60 stock moved above Cdn $164.72 to an all-time high extending an intermediate uptrend.

Netflix $NFLX, a NASDAQ 100 stock moved above $393.52 extending an intermediate uptrend.

TSX Gold iShares $XGD.CA moved above $18.42 to a 7 year high resuming an intermediate uptrend.

Editor's Note: Also, nice breakout by the U.S. junior gold ETF GDXJ above $35.40

More Canadian gold producer stock breakouts! Kinross Gold $K.CA $KGC moved above Cdn. $8.30 to a seven year high extending an intermediate uptrend.

Wheaton Precious Metals $WPM $WPM.CA, a TSX 60 stock moved above $33.88 U.S. and $44.84 Cdn. to a seven year high extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 13th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for April 13th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 13th 2020

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Thank you to David Chapman and www.EnrichedInvesting.com for a link to the following weekly report. Headline reads, "Black swan, historical bailout, record debt bailout benefit, rebound rally, golden shine, narrow doorway". Following is the link:

http://enrichedinvesting.com/wp-content/uploads/2020/04/Black-swan-historical-bailout-record-debt-bailout-benefit-rebound-rally-golden-shine-narrow-doorway.pdf

S&P 500 Momentum Barometer

The Barometer dropped 6.24 to 17.91 yesterday. It remains intermediate oversold

TSX Momentum Barometer

The Barometer gained another 4.00 to 26.64 thanks mainly to strength in precious metal stocks.

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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