Tech Talk for Wednesday April 1st 2020

U.S. equity index futures were lower this morning. S&P 500 futures were down 88 points in pre-opening trade.

Index futures were virtually unchanged following release of the March ADP Employment Report at 8:15 AM EDT. Consensus was a drop of 150,000 versus a gain of 183,000 in February. Actual was a drop of 27,000.

AT&T dropped $1.06 to $28.09 after JP Morgan downgraded the stock from Overweight to Neutral.

McDonalds fell $5.34 to $160.20 after SunTrust lowered its target price from $250 to $189.

Lowe's lost $3.05 to $83.00 after Credit Suisse dropped its target price from $131 to $106.

Blackberry (BB $5.77 Cdn) is expected to open lower after the company reported a fourth quarter loss and lower than consensus fourth quarter revenues.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/03/31/stock-market-outlook-for-april-1-2020/

Note seasonality charts on S&P 500 Index, Case/Shiller Home Price Index and Canadian GDP.

StockTwits released yesterday @EquityClock

Nil

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for March 31st 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for March 31st 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for March 31st 2020

Green: Increase from previous day

Red: Decrease from previous day

Josef Schachter on Michael Campbell's "Money Talks"

Josef is the guest analyst on Michael's weekly radio show. Topic is outlook for the energy sector and related securities. Contact the show this Saturday at www.CKNW.com at 8:30 AM Pacific Time (11:30 AM EDT). Josef's segment starts at 9:00 Pacific time (12:00 Noon EDT).

Interesting video on COVID in Italy

The video shows that spread of the virus in Italy passed its peak about 10 days ago.

https://www.youtube.com/watch?v=ExYoH_OKy80&feature=youtu.be

Note performance of Italian stocks and their related Italian iShares! EWI virtually collapsed when spread of the virus based on confirmed cases went "parabolic". They subsequent reached an important intermediate low when the parabolic curve reached its peak about 10 days ago.

Confirmed cases of the coronavirus in Canada and the U.S. have yet to reach their parabolic peak. When they do, U.S. and Canadian equities likely will move strongly on the upside. Be patient for now.

S&P 500 Momentum Barometer

The Barometer added 0.80 to 4.41 yesterday. It remains deeply intermediate oversold and continues to show signs of bottoming.

TSX Momentum Barometer

The Barometer slipped 0.43 to 3.48 yesterday. It remains deeply intermediate oversold and continues to show signs of bottoming.

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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