Pre-opening Comments for Tuesday April 4^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points at 8:30 AM EDT.

Oneok added $0.55 to $65.61 after Citigroup upgraded the stock from Neutral to Buy.

ServiceNow added $$12.52 to $477.01 after Baird upgraded the stock from Neutral to Outperform.

Charter Communications dropped $3.24 to $352.97 after KeyBanc downgraded the stock from Overweight to Sector Weight.

Comcast added $0.52 to $38.24 after KeyBanc upgraded the stock from Sector weight to Overweight.

 

EquityClock’s Daily Comment

Headline reads “If the market is so bullish (risk-on), then why are short-term treasury bond prices still around 52-week highs”?

http://www.equityclock.com/2023/04/03/stock-market-outlook-for-april-4-2023/

 

Technical Notes

Energy stocks on both sides of the border moved higher following news of a production cut back by OPEC +. Chevron, a Dow Jones Industrial Average stock moved above $168.80 extending an intermediate uptrend. ARC Resources moved above Cdn$16.02 completing a reverse Head & Shoulders pattern.

Europe iShares $IEV moved above $50.35 extending an intermediate uptrend.

Emerson Electric $EMR an S&P 100 stock moved above intermediate resistance at $88.41.

Franco-Nevada $FNV.TO a TSX 60 stock moved above Cdn$201.56 extending an intermediate uptrend.

Rogers Communications $RCI.B.TO a TSX 60 stock moved below Cdn$60.01 setting an intermediate downtrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 3^rd 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for April 3^rd 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for April 3^rd 2023

Green: Increase from previous day

Red: Decrease from previous day

Source for positive seasonal ratings: www.equityclock.com

 

Links offered by valued providers

Real Estate Showing Upside Potential | Erin Swenlin | Your Daily Five (04.03.23)

Real Estate Showing Upside Potential | Erin Swenlin | Your Daily Five (04.03.23) – YouTube

 

Energy Lunges Higher to Start Second Quarter | David Keller, CMT | The Final Bar (04.03.23)

Energy Lunges Higher to Start Second Quarter | David Keller, CMT | The Final Bar (04.03.23) – YouTube

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 3.00 to 53.20. It remains Neutral. Daily trend is up.

The long term Barometer added 0.40 to 60.40. It remains Overbought. Daily trend is up.

 

TSX Momentum Barometers

The intermediate term Barometer added 3.85 to 52.99. It remains Neutral. Daily trend is up.

The long term Barometer added 0.85 to 64.96. It remains Overbought. Daily trend is up.

 

Source for all price charts: www.StockCharts.com

 

Disclaimer: Seasonality ratings 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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