Tech Talk for Tuesday April 9th 2019

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Pre-opening Comments for Tuesday April 9th

U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.

Apple (AAPL $200.10) is expected to open higher after Wedbush raised its target price to $225 from $215.

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Walt Disney (DIS $114.96) added $0.91 to $115.87 after Cowen upgraded the stock to Outperform from Market Perform.

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Perkin Elmer gained $2.29 to $102.00 after Goldman Sachs upgraded the stock to Buy from Neutral.

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U.S. Steel dropped $0.89 to $18.85 after Credit Suisse downgraded the stock to Underperform from Neutral.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/04/08/stock-market-outlook-for-april-9-2019/

Note seasonality charts on Total Vehicle Sales and New Manufacturing Orders.

StockTwits released yesterday @EquityClock

Oil Services ETF $OIH moved above $17.93 extending an intermediate uptrend. ‘Tis the season for strength to mid-May!

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Natural Gas Equity ETF $FCG moved above $17.63 extending an intermediate uptrend.

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Goldcorp. $GG, a TSX 60 stock moved above $11.70 U.S. extending an intermediate uptrend.

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Teck Corp $TECK.B.CA, aTSX 60 stock moved above $32.29 completing a reverse Head & Shoulders pattern.

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Editor’s Note: TECK in U.S. Dollars also broke out on a move above $24.57 U.S.

Technical action by S&P 500 stocks to 10:00: Quietly bullish. Intermediate breakouts: $PRGO $SYMC. No breakdowns.

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Apple $AAPL, one of the FAANG stocks moved above $197.69 extending an intermediate uptrend.

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Crescent Point Energy $CPG.CA moved above $4.76 completing a base building pattern.

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 8th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for April 8th 2019

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 8th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Keith Richard’s Blog

Keith says, “The Bear-o-meter reads bullish”. Following is a link:

https://www.valuetrend.ca/bear-o-meter-reads-bullish/

 

Technical Scoop

Thank you to David Chapman and www.enrichedinvesting.com .

Headline reads, “Best April, warnings abound, Fed-Trump war, Bitcoin rise, curve inversion, gold bottom, unemployment gage”

Following is a link:

http://enrichedinvesting.com/wp-content/uploads/2019/04/Best-April-warnings-abound-Fed-Trump-war-Bitcoin-rise-curve-inversion-gold-bottom-unemployment-gage.pdf

 

S&P 500 Momentum Barometer

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The Barometer slipped 0.80 to 83.37 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

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The Barometer slipped 1.65 to 73.25 yesterday. It remains intermediate overbought.

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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