Tech Talk for Tuesday April 12th 2022

Daily Reports Add comments

Pre-opening Comments for Tuesday April 12th

U.S. equity index futures were higher this morning. S&P 500 futures were up 29 points in pre-opening trade.

Index futures moved higher following release of the March Consumer Price Index at 8:30 AM EDT. Consensus was an increase 1.1% versus a gain of 0.8% in February. Actual was an increase of 1.2% On a year-over-year basis March Consumer Price Index consensus was an increase of 8.4% versus a gain of 7.9% in February. Actual was an increase of 8.5%. Excluding food and energy, March Consumer Price Index consensus was an increase 0.5% versus a gain of 0.5% in February. Actual was an increase of 0.3%. On a year-over-year basis, CPI ex food and energy was expected to increase 6.6%. Actual was an increase of 6.5%.

Carmax dropped $4.99 to $98.18 after the company reported lower than consensus fiscal fourth quarter earnings.

clip_image001[1]

Waste Management dropped $2.16 to $162.00 after BMO Capital downgraded the stock from Outperform to Market Perform

clip_image002[1]

Starbucks slipped $0.84 to $79.84 after Citigroup downgraded the stock.

EquityClock’s Daily Comment

Headline reads “Bond ETFs have moved lower in a parabolic manner, making their trajectories unsustainable”. Following is the link:

 

http://www.equityclock.com/2022/04/11/stock-market-outlook-for-april-12-2022/

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

Advanced Micro Devices $AMD a NASDAQ 100 stock moved below $99.35 extending an intermediate downtrend.

clip_image001

Wheaton Precious Metals $WPM a TSX 60 stock moved above US$50.18 extending an intermediate uptrend.

clip_image002

Taiwan iShares $EWT moved below $59.04 extending an intermediate downtrend. Reflecting weakness in Chinese equity prices.

clip_image003

Gildan Activewear $GIL.CA a TSX 60 stock moved below $44.50 extending an intermediate downtrend.

clip_image004

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 11th 2022

clip_image006

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 11th 2022

clip_image008

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 11th 2021

clip_image010

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX)

 

S&P 500 Momentum Barometers

clip_image011

The intermediate term Barometer dropped another 4.41 to 51.90 yesterday. It remains Neutral. Trend is down.

clip_image012

The long term Barometer slipped 1.40 to 48.10 yesterday. It remains Neutral. Trend is down.

 

TSX Momentum Barometers

clip_image013

Intermediate term Barometer fell 4.42 to 56.19 yesterday. It changed from Overbought to Neutral on a drop below 60.00. Trend is down.

clip_image014

The long term Barometer slipped 0.88 to 61.06 yesterday. It remains 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.




One Response to “Tech Talk for Tuesday April 12th 2022”

  1. Larry/ON Says:

    US Inflation figures to be released today predicted to be 8.4%. If you are collecting a “fabulous” dividend of 5 or 6 percent on your investment you are on the losing end if you have no capital gain. On taxable investments right now you probably need to make in excess of 10% in a year just to break even.

Entries RSS Comments RSS Log in