Tech Talk for Friday April 13th 2018

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Pre-opening Comments for Friday April 13th

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade.

JP Morgan gained $1.48 to $114.85 after reporting higher than consensus first quarter earnings.

NetApp added $1.18 to $68.75 after JP Morgan initiated coverage with an Overweight rating and an $80 target price.

Citigroup advanced 1.21 to 73.34 after reporting higher than consensus first quarter earnings.

Wells Fargo added $0.70 to $53.40 after reporting higher than consensus first quarter earnings.

Starbucks dropped $0.55 to $58.88 after Cowen lowered its rating on the stock to Market Perform from Outperform. Target was reduced to $65 from $68.

EquityClock’s Daily Market Comment

http://www.equityclock.com/2018/04/12/stock-market-outlook-for-april-13-2018/

Note seasonality charts on U.S. Financials sector, NASDAQ 100 Index, Utilities sector and U.S. REIT industry.

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout: $HES. Breakdown: $BBBY.

Editor’s Note: After 10:00 AM EDT, breakouts included ADM and EOG. Breakdown: HSY.

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Energy stocks on both sides of the border continue to move higher. Intermediate breakouts by $EOG and $VET.CA

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for April 12th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for April 12th 2018

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Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for April 12th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Josef Schachter on Michael Campbell’s Money Talks

Tune in at 9:00 AM Vancouver time on Saturday (Noon Toronto time, 10:00 AM Calgary time) on Radio 980 CKNW: Following is a link: https://globalnews.ca/radio/cknw/?gref=cknw Topic is Pipeline Politics.

 

S&P 500 Momentum Barometer

The Barometer gained 5.00 to 41.60 yesterday. It returned to intermediate neutral from intermediate oversold and continues to trend up.

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TSX Momentum Barometer

The Barometer slipped 0.41 to 50.21 yesterday. It remains intermediate neutral and trending up.

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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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27 Responses to “Tech Talk for Friday April 13th 2018”

  1. Ron/BC Says:

    Perhaps the governments involved with the pipeline project should sub contract the security of the project to the Israeli government. They seem to be effective at controlling crowds and protecting workers and projects. And most of the world seems to accept their methods as well. Then CD governments wouldn’t have to get involved and just continue their mamy pamby lets not hurt anyone’s feelings routine.

  2. Ana Says:

    #1. Good grief!

  3. Ron/BC Says:

    Ana
    Re:#1
    Well I’ve never heard a Canadian Prime Minister or U.S. President or other major world leader in the Western world criticize the Israeli government or place trade sanctions or any other restrictions on them for their methods. So all I can assume is they are being responsible and reasonable and fair when dealing with crowd control. Seems like an excellent choice to sub contract out a controversial job to.

  4. Ana Says:

    $SPX $ES

    The market gets stuck at 2666, is that a message?

  5. Ron/BC Says:

    Ana
    AND it’s Friday the 13th!!!!

  6. Ana Says:

    #3.

    I can not start commenting on this, because I have very strong feelings about this issue.

    I might end up offending someone.

    Just because something is ignored, does not make it acceptable.

  7. Sandra Says:

    Hi Ana:
    Are we going to be able to trade HVU.TO today?

    https://invst.ly/75-3x

  8. Ana Says:

    #7. Sandra,

    Just entered my 2nd trade of the day.

  9. Sandra Says:

    Ana:
    How low do you think S&P will pull? Is winging between +2 /-2 .You are usually good at this 😉

  10. Bernie Says:

    Ron/BC,

    Re: #1
    There should be a law against political mamby pambiness…lol. If it was up to me I’d send in our troops to restore order, peace and security until Trans Mountain is completed. The project has been approved so lets get on with it before further damage is done to our global trade prospects and reputation. While we’re at it your MP should be charged with civil contempt of court for violating the pipeline court injunction when she protested along with others on Mar 23rd. She may have been drunk, again, but there is no excuse for someone of her position to misbehave illegally.

  11. Sandra Says:

    Cohen now under criminal investigation may have pulled the markets down. This could incriminate Trump.

  12. gcg Says:

    Fundamentally I support pipelines but not this one.
    Everybody says that TML pipeline is a national interest.
    Enegyeast should have been approved if you really think about a national interest.
    Irving Oil is importing heavy oil despite the fact that Canada produces emough oil to export.
    People should take a look at Lionsgatebridege from the seawall when huge cruise ships
    passing under the bridge you will realize how narrow it is.
    Sooner or later a disaster would happen.

  13. Ron/BC Says:

    Bernie
    Agree completely. But you need a government with backbone that isn’t afraid of offending the left. My MP knows nothing will happen to her for breaking the law. She and others should be jailed indefinitely. And Yes,bring in the CD military. Unfortunately the political leaders will keep them from doing their job. That is why I suggested sub contracting the job to Isreal. Their military isn’t afraid of offending anyone and take their job seriously.

  14. Bernie Says:

    Ron/BC,

    Employing the Israeli military to do the dirty work would certainly get the job done. Radical approach or not, if that’s what it would take, so be it. It sure would be nice if the protestors left to get on another cause. Hmmm, maybe picket the east coast oil tankers bringing in foreign oil or head south to take on the cancer merchants, ie; big tobacco. I’m sure they could find a more worthwhile cause somewhere.

  15. BrianK Says:

    I believe I blogged on here about 5 years ago that Steven Harper should mandate a pipeline be built from Alta to New Brunswick in the national interest.

  16. dutchcanuck Says:

    I find it astonishing that these anti folks don’t protest about heavy oil from California and Utah. It’s 8x dirtier than the Can Oil Sands and yet not a peep about this in the US. No doubt in my mind that all this turmoil is backed by US funding. The US is making multi billions on Can oil. They but it on the cheap from us and export it from the Gulf Coast or they refine it and export the gasoline and byproducts. Like Kevin O’Leary says :It’s always about the money!
    From a political point of view Horgan is being pressed by 3 BC Green reps to keep him in power, so my conclusion is that the country is being held to ransom by 3 “Greens”. Hallelujah!
    Wonder if we could build a Trans-Canada railroad today with this anti-crowd around.
    Like to be a fly on the wall in the upcoming Ottawa meeting when Horgan tells Justin.:Well you killed Energy East so I can kill the TMP.

  17. JP/BC Says:

    As was pointed out in post #12, energy east was canned after eastern provinces complained. When you consider the Quebec has received Equalization payments from the other provinces (more specifically from Alberta oil) every year for decades, AND that this year’s Equalization to Quebec is $11.7 billion, then why wasn’t that in the national interest? Just to be clear, $11.7 billion is $11,700,000,000…in one year. Consider that Quebec ran a $2 billion surplus last year while the feds ran an $18 billion deficit. How can a federal government so far in the hole afford such ridiculous subsidies to a province that stifles development? How did Quebec qualify for an additional $700 million in Equalization in 2018 while the national debt is soaring? Also consider Alberta is running a $10 billion deficit, and they receive no Equalization payments. BC doesn’t get $1 in Equalization, but is expected to assist Alberta on it’s own. I really hate to see Western provinces fighting against each other when the real enemy are welfare provinces in the east that are being propped up by a Federal government that buys their votes with revenue coming from the West. The Federal government talks a good game around human rights, and the environment, but the oil being delivered to Eastern Canada comes from countries like Saudi Arabia. Why not support Alberta and the money train that flows east?

  18. dutchcanuck Says:

    #17 It was Quebec that fought energy east. The maritimes wanted that pipeline.
    New Brunswick wanted the western oil so they could build a refining and chemical industry with unbelievable job creation based on exports to Europe shipped across the Atlantic. Canada needs all 3 pipelines East, West and Keystone.

  19. Bernie Says:

    Re: #12
    Yes sooner or later a disaster will happen but it more likely to be an earthquake, tsunami or asteroid wipeout than a tanker mishap. There hasn’t been a single tanker spill with any vessel transporting oil through Port Metro Vancouver since 1956.

    Re: #17-18
    I have no idea how they determine equalization payments. I do know Canadians pay a hellova lot of taxes, carry a lot of debt and have a decent standard of living, education system and social programs. Our Corps, whether they be national or international, also pay a lot of taxes which help fund our expensive way of life. How can we maintain our standard of living and grow as a nation when we’re effectively telling the world we’re closed for business? How can we afford not to build all three proposed pipelines?

  20. Pat/Vic Says:

    I think they need to have a robust spill response team put in place with proper equipment..that will address a lot of the criticism.Then they need to arrest anyone blocking construction.People should be free to protest but not stop construction.

  21. Bernie Says:

    The majority of the criticism is unfounded with little willingness to compromise. Land and marine Spill liability for Trans Mountain has already been addressed and signed off. IMO the positives far out way the negatives for this project.
    https://www.transmountain.com/spill-liability

  22. Pat/Vic Says:

    I see responsibility and funding in place but I don’t see any equipment…maybe it is there but I don’t see it.

  23. Bernie Says:

    Pat/Vic,

    Re: #22
    https://www.transmountain.com/marine-response

  24. dave/ab Says:

    Here is an excellent article from the Mayor of Kamloops. Worth the read. Someone I feel has done a research prior to righting her article.

    http://www.jwnenergy.com/article/2016/12/mayor-fort-st-john-wrote-letter-about-pipelines-citizens-british-columbia/

  25. dave/ab Says:

    JP/BC #17

    I am tired of other provinces getting my money. It is always the same provinces. I feel since this is the case I should have a vote in any of there elections ( Provincial and Federal). Why should the same provinces get it so easy?

  26. JP/BC Says:

    Dave/AB: If I were an Albertan I would be livid at Ottawa. There seems to be no scenario where you will receive the extra help that eastern welfare provinces regularly get. Why should Quebec develop their resources when they know that the more they earn for themselves, the less they get from Ottawa for doing nothing? The equalization formula rewards Quebec for discouraging business with their expensive social agenda and French first policies.

  27. dave/ab Says:

    JP/BC

    Many Albertans are livid with Ottawa. The west needs to have a bigger say. Its like being a parent and giving the kids an allowance. If the don’t listen or fulfill certain obligations their allowance is cut off. We need to be able to vote in there elections if they want our money.

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