Tech Talk for Tuesday April 28th 2020
U.S. equity index futures moved higher this morning. S&P 500 futures were up 37 points in pre-opening trade.
Pfizer gained $0.77 to $39.10 after reporting higher than consensus first quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/04/clip_image0011-11.png "clip_image001[1]")
Merck dropped $1.58 to $82.40 after lowering sales and earnings guidance for remainder of the year.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/04/clip_image0021-12.png "clip_image002[1]")
UPS fell $3.58 to $99.00 after reporting lower than consensus first quarter revenues and earnings. The company also suspended its share buyback program
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/04/clip_image0031-8.png "clip_image003[1]")
Canadian National Railway (CNR $113.91 Cdn.) is expected to open higher after reporting higher than consensus first quarter earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/04/clip_image0041-4.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/04/27/stock-market-outlook-for-april-28-2020/
Observation
Marijuana stocks and related ETFs show technical signs of bottoming. Nice move by HMMJ above $6.76 completing a base building pattern.
StockTwits released yesterday @EquityClock
Restaurant Brands International $QSR.CA, a TSX 60 stock moved above $66.29 completing a base building pattern.
CSX $CSX, a NASDAQ 100 stock moved above $64.82 completing a base building pattern.
Paychex $PAYX, a NASDAQ 100 stock moved above $68.79 completing a base building pattern.
Canadian Pacific $CP.CA, a TSX 60 stock moved above $326.10 completing a base building pattern.
NetApp $NTAP, a NASDAQ 100 stock moved above $43.82 completing a reverse Head & Shoulders pattern.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for April 27th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for April 27th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 27th 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 their weekly comment. Headline reads, "Wild oil, pandemic domination, bigger bear, fallen velocity, golden shine, PMIs down, junior life". Following is a link:
S&P 500 Momentum Barometer
The Barometer gained 11.22 to 52.51 yesterday. It remains intermediate neutral and continues to trend higher.
TSX Momentum Barometer
The Barometer gained 7.35 to 46.46 yesterday. It changed from intermediate oversold to intermediate neutral on a move above 40.00 and continues to trend higher.
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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