Tech Talk for Wednesday April 22nd 2020
U.S. equity index futures were higher this morning. S&P 500 futures were up 34 points in pre-opening trade.
The Canadian Dollar was virtually unchanged at U.S. 70.70 cents following release of Canada's March Consumer Price Index at 8:30 AM EDT. Consensus was a decline of 0.4% versus a gain of 0.4% in February. Actual was a decline of 0.6%.
Netflix slipped $3.83 to $430.00 despite announcing a higher than consensus surge in subscribers.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/04/clip_image0011-8.png "clip_image001[1]")
Texas Instruments added $1.24 to $108.08 after reporting higher than consensus first quarter revenues.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/04/clip_image0021-8.png "clip_image002[1]")
Chipotle advanced $33.20 to $821.50 after reporting higher than consensus first quarter earnings.
Canadian Pacific (CP 305.50 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_image0041-1.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2020/04/21/stock-market-outlook-for-april-22-2020/
Note seasonality chart on U.S. Existing Home Sales.
U. S. Equity Indices Complete Bearish Rising Wedge Patterns
Patterns were recorded yesterday at a time when short term momentum indicators turned lower from overbought levels. Note that traditional seasonal peaks by these indices at the beginning of May are approaching.
StockTwits released yesterday @EquityClock
Soybean ETN $SOYB moved below $13.40 to an all-time low extending an intermediate downtrend.
Editor's Note: Corn prices also continued to trend lower
Commodity Prices Collapse
CRB Index ETN dropped more than 10% yesterday.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for April 21st 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Seasonal/Technical Commodities Trends for April 21st 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 21st 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer dropped 9.62 to 21.84 yesterday. It remains intermediate oversold.
TSX Momntum Barometer
The Barometer dropped 8.85 to 24.78 yesterday. It remains intermediate oversold.
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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