Tech Talk for Wednesday April 4th 2018

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Pre-opening Comments for Wednesday April 4th

U.S. equity index futures were substantially lower this morning. S&P futures were down 41 points in pre-opening trade. Index futures are responding to news that China plans to impose tariffs on U.S. imported manufactured and agriculture goods valued at $50 billion. Boeing dropped $16.87 to $313.95 and technology stocks were notably lower. Gold gained $13.20 per ounce.

Index futures were virtually unchanged following release of the March ADP Employment report at 8:15 AM EDT. Consensus was 180,000 versus 235,000 in February. Actual was 241,000.

Lennar (LEN $56.00) is expected to open higher after reporting higher than consensus fiscal first quarter sales and earnings.

Eli Lilly (LLY $77.08) is expected to open higher after announcing positive results in a late stage trial of a liver cancer treatment.

Tesla dropped $13.42 to $254.57 after announcing lower than expected production. RBC Capital lowered its target price to $305 from $380.

Whirlpool dropped $4.43 to $146.80 after Goldman Sachs downgraded the stock to Sell from Neutral.

Jon Vialoux’s EquityClock Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/04/03/stock-market-outlook-for-april-4-2018/

Note seasonality charts on the Consumer Staples sector, Distillers & Vintner industry, Dow Jones Transportation Average and Construction Spending.

StockTwits released yesterday @EquityClock

Saputo $SAP.CA, a TSX 60 stock moved below $39.51 extending an intermediate downtrend.

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Keyera $KEY.CA moved above $33.85 completing a double bottom pattern.

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Technical action by S&P 500 stocks to 10:00: Quiet. No intermediate breakouts. Breakdown: $WU.

 

Editor’s Note: After 10:00 AM EDT, two stocks broke intermediate resistance: DLPH and NDAQ. None broke support.

NASDAQ Biotech ETF $IBB moved below $101.02 extending an intermediate downtrend.

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Cameco $CCJ, a TSX 60 stock moved above $9.52 setting intermediate uptrend.

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‘Tis the season for Cameco $CCJ $CCO.CA to move higher to early June!

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Vietnam ETF $VNM moved above $19.88 to a 3 year high extending an intermediate uptrend.

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Royal Bank $RY.CA $RY, a TSX 60 stock moved below $98.04 Cdn. completing a Head & Shoulders pattern.

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for April 3rd 2018

spx april 4

Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for April 3rd 2018

crb april 4

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

 

Daily Seasonal/Technical Sector Trends for April 3rd 2018

xlk april 4

Green: Increase from previous day

Red: Decrease from previous day

Josef Schachter on BNN’s Market Call Yesterday

Josef is taking a positive stance on natural gas and “gassy” stocks. Following are links to his comments:

https://www.bnn.ca/video/josef-schachter-s-top-picks~1361952

https://www.bnn.ca/video/josef-schachter-s-past-picks~1361930

https://www.bnn.ca/video/josef-schachter-s-market-outlook~1361906

 

S&P 500 Momentum Barometer

image

The Barometer jumped 6.60 to 25.80 yesterday. An encouraging technical sign of an intermediate bottom!

 

TSX Momentum Barometer

image

The Barometer added 1.80 to 39.18 yesterday. More technical evidence of an intermediate recovery!

 

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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6 Responses to “Tech Talk for Wednesday April 4th 2018”

  1. sp Says:

    Thanks, HVU.to Trading excellent, Thanks for giving idea, and guiding how to trade. we all should make money. Because Canadian Govt. is crazy increasing taxes.

  2. Sandra Says:

    sp:
    Good!
    Did u hold overnight?

  3. sp Says:

    yes

  4. Ken Says:

    Thanks to Ana for sharing her HVU.TO strategies, much appreciated.

    When daytrading SPXL/SPXS/VXX/HVU.TO, I’ve found plotting relative strength lines like $SPX:$VIX and $SPX:GLD behind the candlesticks can give good reversal clues especially on the 1 and 2 min charts.

  5. Kam Says:

    Hvu Players,

    Hope you guys know that it is widowmaker too. This easy money in HVU is also with VIX staying high and above 15. Once SPX bottoms, there will be nowhere to hide so please play with caution. Ana is different. She has been playing with this for years. Contrarian indicator says that more people talking about VXX means the end is near, lol.

    That being said, there is good chance of a huge spike in it with SPX bottoming around 2500 or 2450 area in the near term or this 4th wave can drag all the way to May. This May most likely be ‘buy in May and go away’.
    Later

  6. sp Says:

    Today is volatile day, all market up and vix, HVU all down back to low and filled all the gaps

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