Pre-opening Comments for Thursday April 18^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points at 8:35 AM EDT.

S&P 500 futures were unchanged following release of the April Philly Fed Index at 8:30 AM EDT. Consensus was unchanged versus a gain of 3.2 in March. Actual was a gain of 15.5.

CSX added $0.54 to $34.70 after reporting higher than consensus first quarter earnings.

Alcoa gained $1.05 to $36.70 after reporting higher than consensus first quarter revenues.

Equifax dropped $19.80 to $217.88 after noting that weaker mortgage demand is weighing on its business.

DR Horton advanced $4.24 to $149.98 after offering positive revenue and earnings guidance.

 

Technical Notes

Semiconductor iShares $SOXX moved below $212.44 and Semiconductor ETF $SMH moved below $212.82 completing a double top pattern.

KLA $KLA a NASDAQ 100 stock moved below $668.70 completing a double top pattern.

ASML $ASML a NASDAQ 100 stock moved below $928.00 completing a double top pattern.

AMEX Biotech ETF $FBT moved below $144.27 setting an intermediate downtrend.

Pfizer $PFE a Dow Jones Industrial Average stock moved below $25.38 extending an intermediate downtrend.

Saputo $SAP.TO a TSX 60 stock moved below Cdn$25.40 extending an intermediate downtrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 17^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

 

Commodities

Daily Seasonal/Technical Commodities Trends for April 17^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 17^th 2024

Green: Increase from previous day

Red: Decrease from previous day

 

Links offered by valued providers

Bitcoin Halving Could Bring Massive Upside! Dave Keller

Bitcoin Halving Could Bring Massive Upside! – YouTube

 

Chart Check on the S&P 500 with Carter Braxton Worth

Chart Check on the S&P 500 with Carter Braxton Worth – YouTube

 

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 0.80 to 30.00. It remains Oversold. Daily trend remains down.

The long term Barometer added 0.20 to 69.00. It remains Overbought.

 

TSX Momentum Barometers

The intermediate term Barometer slipped 0.45 to 49.55. It remains Neutral. Daily trend remains down.

The long term Barometer was unchanged at 63.39. It remains Overbought. Daily trend remains down.

 

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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