Tech Talk for Wednesday April 14th 2021
Magna International (MG), a TSX 60 stock moved above $118.71 to an all-time high extending an intermediate uptrend.
![clip_image001[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/04/clip_image0017-2.png "clip_image001[7]")
Open Text (OTEX), a TSX 60 stock moved above US$49.77 to an all-time high extending an intermediate uptrend.
![clip_image002[7]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/04/clip_image0027-2.png "clip_image002[7]")
Pre-opening Comments for Wednesday April 14th
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade.
Crude oil advanced $1.03 to $61.21 per barrel after the IEA raised its demand outlook.
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/04/clip_image0015-6.png "clip_image001[5]")
JP Morgan Chase slipped $1.11 to $152.98 despite reporting higher than consensus first quarter revenues and earnings.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/04/clip_image0025-4.png "clip_image002[5]")
Goldman Sachs advanced $5.82 to $333.50 after reporting higher than consensus first quarter revenues and earnings.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/04/clip_image0035-6.png "clip_image003[5]")
Alphabet added $6.09 to $2260.52 after Wedbush raised its target price from $2,470 to $2,953.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/04/clip_image0045-2.png "clip_image004[5]")
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2021/04/13/stock-market-outlook-for-april-14-2021/
Technical Notes for Tuesday April 13th
NASDAQ 100 Index moved above $13,879.77 to an all-time high extending an intermediate uptrend.
Ditto for its related ETF, QQQ on a move above $337.76!
Long term U.S. Treasuries (TLT) moved above $138.47 completing a double bottom pattern.
Nvidia (NVDA), a NASDAQ 100 stock moved above $614.69 to an all-time high extending an intermediate uptrend.
Oil and Gas Exploration SPDRs (XOP) moved below $76.09 setting an intermediate downtrend.
CooncoPhillip (COP), an S&P 100 stock moved below $50.53 setting an intermediate downtrend.
Oil Services ETF (OIH) moved below $179.54 setting an intermediate downtrend.
Schlumberger (SLB), an S&P 100 stock moved below $26.19 setting an intermediate downtrend.
Healthcare SPDRs (XLV) moved above $118.57 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 13th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for April 13th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 13th 2021
Green: Increase from previous day
Red: Decrease from previous day
All seasonality ratings are based on performance relative to the S&P 500 Index
S&P 500 Momentum Barometer
The intermediate Barometer added 0.20 to 90.98 yesterday. It remains Extremely Overbought.
The long term Barometer was unchanged at 95.59 yesterday. It remains Extremely Overbought.
TSX Momentum Barometer
The intermediate Barometer added 1.46 to 79.02 yesterday. It remains Overbought.
The long term Barometer was unchanged at 80.98 yesterday. It remains Extremely 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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