Tech Talk for Tuesday April 2nd 2019

U.S. equity index futures were mixed this morning. S&P 500 futures were up 1 point in pre-opening trade.

Index futures were virtually unchanged following release of the February Durable Goods Orders report at 8:30 AM EDT. Consensus called for a drop of 2.1% versus a gain of 0.3% in January. Actual was a drop of 1.6%. Excluding transportation orders, February Durable Goods Orders were expected to increase 0.2% versus a decline of 0.1% in January. Actual was an increase of 0.1%.

Walgreen Boots dropped $4.13 to $63.49 after reporting lower than consensus fiscal second quarter earnings. The company also lowered its guidance for the remainder of 2019.

Walt Disney gained $0.67 to $113.27 after Rosenblatt initiated coverage with a Buy rating and a $150 price target.

Intuitive Surgical (ISRG $575.54) is expected to open higher after Deutsche Bank initiated coverage with a Buy rating.

Bitcoin surged $666.83 to $4813.55 following its breakout above $4057.13 on Monday.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/04/01/stock-market-outlook-for-april-2-2019/

Note seasonality charts on 30 Year Treasury Bond Futures, Retail Trade and Construction Spending.

StockTwits Released Yesterday @EquityClock

Techn action by S&P 500 stocks to 10:00: Bullish. Intermediate breakouts: $LOW $JNJ $CSX $UPS $UTX $ADS $PPG $IPGP $PKI $STZ. No breakdowns

Editor's Note: After 10:00 AM EDT, intermediate breakouts include IPGP, PKI, STZ, DAL, SWK, PKG, F, TSS, MMM, ANSS and FDX. No breakdowns.

Johnson & Johnson $JNJ, a Dow Jones Industrial stock moved above $140.00 extending an intermediate uptrend.

United Technologies $UTX, a Dow Jones Industrial stock moved above $129.64 and $131.62 extending an intermediate uptrend

Steel ETX $SLX moved above $41.15 extending an intermediate uptrend

Constellation Software $CSU.CA, a TSX 60 stock moved above $1149.18 to an all-time high extending an intermediate uptrend

Canadian Pacific $CP.CA, a TSX 60 stock moved above $278.33 extending an intermediate uptrend.

MMM $MMM, a Dow Jones Industrial stock moved above $111.59 extending an intermediate uptrend.

Dow Jones Industrial Average SPDRs $DIA moved above $261.81 extending an intermediate uptrend.

Dow Jones Industrial Average Earnings Reports

First quarterly report is released today by Walgreen Boots. Consensus shows that 15 companies will release higher quarterly earning relative to the same period last year, five companies will report no change and ten companies will report lower earnings. Average (median) is no change.

Trader's Corner.

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 1st 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 1st 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 1st 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 7.80 to 79.60 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 6.58 to 70.78 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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