Tech Talk for Thursday April 11th 2019

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Pre-opening Comments for Thursday April 11th

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Index futures responded to encouraging news on China/U.S. trade negotiations.

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for the March Producer Price Index was an increase of 0.3% versus a gain of 0.2% in February. Actual was an increase of 0.6%. Excluding food and energy, consensus for the March Producer Price Index was an increase of 0.2% versus a gain of 0.1% in February. Actual was unchanged. Consensus for Weekly Jobless Claims was 211,000 versus 202,000 last week. Actual was 196,000, lowest level since 1969.

Costco (COST $245.61) is expected to open lower after reporting lower than consensus March sales.

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Bed Bath & Beyond (BBBY $19.41) is expected to open lower after fourth quarter revenues came in lower than consensus.

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Chipotle dropped $8.43 to $710.42 after Jefferies downgraded the stock to Hold from Buy.

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Tesla (TSLA $276.06) is expected to open lower after plans to expand its Gigafactory were put on Hold.

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EquityClock’s Daily Market

Following is a link:

http://www.equityclock.com/2019/04/10/stock-market-outlook-for-april-11-2019/

Note seasonality charts on the Technology sector, Crude Oil Days of Supply, Gasoline Days of Supply and U.S. Consumer Prices.

 

StockTwits released yesterday @EquityClock

US Consumer Price Index up 0.6% (NSA) in March, marginally stronger than the 0.5% increase that is average for the month. $MACRO #CPI

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Russian ETF $RSX moved above $21.55 extending an intermediate uptrend.

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Another Canadian energy stock breakout! Freehold Royalties $FRU.CA moved above $9.24 extending an intermediate uptrend.

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Cascade $CAS.CA moved above $8.62 completing a base building pattern.

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

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Editor’s Note: After 10:00 AM EDT, breakouts included VLO, FTX and A. No breakdowns.

TSX Energy ETF $XEG.CA moved above $10.36 extending an intermediate uptrend. ‘Tis the season for strength to mid-June!

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Another Cdn. oil stock breakout! Imperial Oil $IMO.CA, a TSX 60 stock moved above $37.79 completing a base building pattern

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Another Cdn. energy ETF breakout! BMO Equal Weight Energy ETF $ZEO.CA moved above $45.86 extending an intermediate uptrend

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Technology SPDRs $XLK moved above $76.69 to an all-time high extending an intermediate uptrend.

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Israel iShares $EIS moved above $55.41 extending an intermediate uptrend.

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for April 10th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for April 10th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for April 10th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

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The Barometer added 2.81 to 80.56 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer slipped 0.41 to 72.02 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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7 Responses to “Tech Talk for Thursday April 11th 2019”

  1. Larry/ON Says:

    Weekly US jobless claims fall to lowest in 50 Years for week ending April 6th. No chance of a rate cut if this continues. Forget recession. Any slowdown in the US is muted.
    WTI – The chart shows major resistance at mid-60’s where it is now stalling

  2. tawny Says:

    Ron/BC

    Not on this site very often right now, but caught your great chart on XIU. I grabbed your chart and saved… but can you tell me how I can capture your annotations? They are great! Gracias.
    Yes, it is hot now where I live – May gets very hot and I might be going to Vancouver and possibly Victoria next month. Perhaps a cruise to Alaska.

  3. Ron/BC Says:

    Hi Tawny

    I’m assuming the XIU.to chart you are referring to is this 3.5 year one with the Modified MACD signals on it. I can’ recall which one I posted so I’ll post the longer one as well. Shorter charts are easier to read though. I’m not sure how you can save a chart as it continues to update it seems. I’m no computer whiz kid for sure as am old school thinking so a lot of this computer stuff is foreign to me. But I was told to copy a chart with your mouse and then save it somewhere and that will “capture” the chart up to that time and stop but of course wont update itself.

    https://stockcharts.com/h-sc/ui?s=XIU.TO&p=D&yr=3&mn=5&dy=0&id=p63289240844&a=579408564

    https://stockcharts.com/h-sc/ui?s=XIU.TO&p=D&yr=6&mn=0&dy=0&id=p96048576936&a=579408596

    Also here is a chart you asked me to make up long ago. I never did make sense of it but I’m not into cloud stuff. And yes,I can only imagine the heat in Mexico from March onward. But some do love the stuff regardless. An Alaskan cruise is good. I went on one myself a few years ago and enjoyed it but as far as the scenery goes it was just like the B.C. coast with nothing new to see other than the glaciers. Many tourists stare in awe at an eagle and salmon running upstream at one of the ports along the way but they are common on the West Coast.

    https://stockcharts.com/h-sc/ui?s=AAPL&p=D&yr=5&mn=0&dy=0&id=p92566232714&a=579408539

  4. Polish1 Says:

    Nice follow through on AIRG
    https://stockcharts.com/h-sc/ui?s=AIRG&p=D&yr=0&mn=6&dy=15&id=p56002820462&a=657784425&listNum=59

  5. Polish1 Says:

    DIVIDEND INDICATOR
    One thing I wasn’t aware of, Stockcharts has a dividend indicator you can add to the chart

  6. Paula Says:

    Tawny, Ron/BC
    If you are a stockcharts member, you can save charts that will update by:
    1. Clicking on annotate, bottom left under chart
    2. Wait for it to fully load
    3. Make some small change (I drew a green circle outline around the B/O written by Ron/BC
    4. Press the X in the upper right corner
    5. you will be asked to save changes, so press Yes
    6. give the chart a unique name or accept the name they have already given
    7. Press upload

    That should do it.Maybe I will save these instructions in a word file for when this question comes up. That will save writing it out each time.

    On another subject, I wanted to send a link to the interview with Gary Schilling yesterday on BNN but I could not find it. I often have a hard time finding particular videos on BNN 

  7. Ron/BC Says:

    Paula
    I pressed annotate which allows me to make chart changes and then clicked X top right hand corner but all that did was undo the annotate which was back to regular viewing. Was not asked to save changes and no yes to click and no upload button.

    What was the Gary Schilling video about?

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