Tech Talk for Thursday April 26th 2018

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Pre-opening Comments for Thursday April 26th

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. Index futures are responding to higher than consensus sales and earnings reported by most of the 31 S&P 500 companies that released quarterly results since yesterday’s close.

European Central Bank maintained its key lending rates at current levels.

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was 230,000 versus revised 233,000 last week. Actual was 209,000. Consensus for March Durable Goods Orders was an increase of 1.2% versus a revised gain of 3.5% in February. Actual was an increase of 2.6%. Excluding transportation, consensus for March Durable Goods Orders was a gain of 0.4% versus a revised increase of 0.9% in February. Actual was a drop of 0.1%.

Facebook gained $11.94 to $171.63 after reporting higher than consensus first quarter results.

Visa advanced $3.30 to $124.51 after reporting higher than consensus first quarter results.

PayPal added $3.30 to $77.30 after reporting higher than consensus first quarter results.

Husky Energy (HSE $19.09 Cdn) is expected to open higher after reporting higher than consensus first quarter results.

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/04/25/stock-market-outlook-for-april-26-2018/

Note seasonality charts on Crude Oil Days of Supply, Gasoline Days of Supply and Crude Oil.

 

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bearish. Breakdowns: $MHK $GT $COTY $MS $MYL $GD $LMT $UTX $APH $NVDA $TEL $AVY $CHTR $HII.

Editor’s Note: After 10:00 AM EDT, breakdowns included EA, REG, PRGO, TRIP and TSS. Breakouts: CTL, AET

United Technologies $UTX, a Dow Jones Industrial stock moved below $120.66 extending an intermediate downtrend.

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Teck Resources $TECK $TECK.B.CA, a TSX 60 stock moved below $24.49 U.S. extending an intermediate downtrend.

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Aecon $ARE.CA moved below $17.98 extending an intermediate downtrend.

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Canadian Pacific $CP.CA, a TSX 60 stock moved above $233.35 in anticipation of a labour agreement.

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for April 25th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for April 25th 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 25th 2018

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Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 1.00 to 43.00 yesterday. It remains intermediate neutral.

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TSX Momentum Barometer

The Barometer added 1.48 to 59.50 yesterday. It remains intermediate neutral.

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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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14 Responses to “Tech Talk for Thursday April 26th 2018”

  1. sp Says:

    anyone have trouble to login TD webbroker?

  2. Sandra Says:

    sp. TD webbroker is ok for me.

  3. KC Says:

    SP,

    I have had a few instances in the last 2 or 3 weeks where I was getting an error message when I tried to login to WebBroker. Not sure what the problem is as I never did bother to call in, very frustrating to say the least, especially during tax season!

    KC

  4. KC Says:

    Good Morning Ron/BC

    Could I please ask for your TA and thoughts on UGA today ? Do you think its at a double or triple top there and liable to have a drop 30.90 or 29.40 , or do you see it more likely to break through resistance at 34.20 ?

    Thanks,
    KC

  5. Ron/BC Says:

    KC
    UGA is the Gasoline ETF and is influenced by a variety of factors so is erratic and doesn’t show much respect for previous highs and lows. There is support at the $30 level and recent resistance at $34. Price has been in an uptrend since last June but it does look like price could remain in this $4 channel of $30 to $34 unless we see a breakout over $34 that holds. That ‘could see’ price run up to $42 to $45 resistance. Momentum indicators such as the RSI 8 have been good at picking off short term lows as they do tend to work well with volatile stocks and ETFs. But they often catch a low only to see a dead cat bounce and then a resumption of the downtrend. Gotta be very fast “OR” leave it alone and keep your money. A wide variety of factors will affect price both ways.

    http://stockcharts.com/h-sc/ui?s=UGA&p=D&yr=2&mn=0&dy=0&id=p77948344903&a=590973194

    http://stockcharts.com/h-sc/ui?s=UGA&p=D&yr=8&mn=0&dy=0&id=p70649179561&a=579408256

  6. FishFat Says:

    TransCanada (TRP.to / TRP.nyse) reports earnings tomorrow morning before the open. It has beat consensus earnings estimates 7 of the last 8 quarters. I am hoping the odds suggest tomorrow will also be an earnings beat. On the daily chart the price has penetrated the downtrend and recently pulled back to the B/O price. Notice how the conventional MACD has broken-out of a wedge pattern – this is often bullish. The long term modified MACD (50,200,20) has just crossed the signal line – also positive. However, the falling Full STO is an risky omen -support exists at about US$40.

    http://schrts.co/vRiuwz

  7. Sandra Says:

    All indexes going crazy up and almost spooky. Hope dont sell off tomorrow.

  8. roy Says:

    anyone have any comments on ENB.to? Is the worst over?

  9. Rol Lew Says:

    … nice move up today, pds pd-to, on earnings,

    http://stockcharts.com/freecharts/candleglance.html?NE,PDS,TCW.TO,NOV,SLB,HAL,NBR,MDR,FRAC,RDC,DO,OIH

    (no position)

    … I wonder how long the refiners will keep this up
    http://stockcharts.com/freecharts/candleglance.html?CRAK,MRO,HFC,HES,RDS.A,VLO,PSX,ANDV,PBF,CVI,CVRR

    (small stake in cvrr) which crossed the 50 day on the daily @ 13.56, today 17.56 = 29% for the month. coulda, woulda, shoulda, Nice if you can get it. But maybe the reality for many traders is what Ron/BC talked about yesterday in #5. Maybe it’s impossible/ improbable to make profitable trades, overall, Maybe the losers will always outweigh the winners.

    http://stockcharts.com/h-sc/ui?s=CVRR&p=D&yr=1&mn=4&dy=0&id=p89429986219

    Question is…. is it possible/ probable to have “seen” this 6 or 8 mths ago, and what about “seeing” something today?

  10. Rol Lew Says:

    https://finance.yahoo.com/news/enbridge-inc-host-joint-webcast-210500282.html

    http://stockcharts.com/h-sc/ui?s=SEP&p=D&yr=0&mn=6&dy=0&id=p85301134037

    SEP has an 8.27% yield

    (just looking)

  11. Bernie Says:

    Rol Lew,

    Re: #10
    SEP is an MLP. Unless you’re an American citizen the distributions are deducted a non-recoverable 35% withholding tax at source. Perhaps look at ENF.TO for a more tax friendly alternative.

  12. Ron/BC Says:

    Bernie
    A lot of condos here and likely elsewhere allow dogs as well as cats and birds etc. Most of the older condos do not allow rentals though and must be owner occupied. So they are not the best investment units. I’ve never owned or lived in a condo before so am cautious about it and read the Depreciation Reports thoroughly.

  13. Bernie Says:

    Ron/BC,

    There were a few condos available here when we house hunted 2 years ago. I believe they allowed dogs but none had fences or allowed them to be built. Our dog likes to wander when there’s an opening so for her own safety we crossed the condos off our list.

  14. Bernie Says:

    roy,

    Re: #8
    Both Marketcall guests today had buy recommendations on ENB.TO, one was a top pick. They always mention the high debt but I don’t see it as the road to doom. Enbridge can always sell some of their assets if need be. The dividend has been raised for 22 consecutive years and yield is now north of 7 years. I don’t consider ENB a high risk stock.

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