Tech Talk for Tuesday April 30th 2019
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.
The Canadian Dollar was virtually unchanged at 74.34 cents U.S. following release of the February GDP report. Consensus was an increase of 0.1% versus a gain of 0.3% in January. Actual was a decrease of 0.1%.
Alphabet dropped $95.20 to $1201.00 after releasing less than consensus first quarter sales growth. Stifel downgraded the stock to Hold from Buy.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/04/clip_image0011-9.png "clip_image001[1]")
MGM Resorts fell $1.52 to $27.48 after reporting lower than consensus first quarter earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/04/clip_image0021-17.png "clip_image002[1]")
Merck added $0.90 to $77.68 after reporting higher than consensus first quarter sales and earnings. The company also issued positive guidance.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/04/clip_image0031-14.png "clip_image003[1]")
Pfizer added $0.39 to 39.98 after reporting higher than consensus first quarter sales and earnings. The company also issued positive guidance.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/04/clip_image0041-15.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/04/29/stock-market-outlook-for-april-30-2019/
Note seasonality charts on the Russell 2000 Index and the U.S. Financial sector.
StockTwits released yesterday @EquityClock
S&P 500 Index $SPX moved above $2940.41 to an all-time inter-day high extending an intermediate uptrend
Editor's Note: The Russell 2000 Index also broke to a new recent high on a move above 1602.10.
Technical action by S&P 500 stocks to 10:00: Mixed. Intermediate breakouts: $IPG $FITB $USB $ATVI. Breakdowns: $CHRW $JBHT $NUE
Editor's Note: After 10:00 AM EDT. Intermediate breakouts included CRM, JCI, SIVB and PRGO. Breakdown: COTY.
S&P Bank SPDRs $KBE moved above $45.77 extending an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for April 29th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for April 29th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 29th 2019
Green: Increase from previous day
Red: Decrease from previous day
Technical Scoop
David Chapman's weekly report. See:
S&P Momentum Barometer
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/04/clip_image0015-2.png "clip_image001[5]")
The Barometer was unchanged yesterday. It remains intermediate overbought.
TSX Momentum Barometer
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/04/clip_image0025-2.png "clip_image002[5]")
The Barometer slipped another 0.60 to 58.47 yesterday. It remains intermediate neutral and trending down.
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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