Pre-opening Comments for Tuesday April 11th
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM EDT.
Brookdale Senior Living gained $$0.26 to $3.24 after the company raised guidance.
![clip_image001[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2023/04/clip_image0011-3.png "clip_image001[1]")
Tilray dropped 0.12 to Cdn$2.62 after reporting a third quarter loss of $1.90 per share. The company also announced purchase of Hexo for Cdn$56 million.
CarMax gained $5.17 to $71.03 after reporting higher than consensus fourth quarter results.
![clip_image003[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2023/04/clip_image0031-3.png "clip_image003[1]")
Devon Energy added $.08 to $53.47 after Truist raised its target price from $70 to $87.
EquityClock’s Daily Comment
Headline reads “Evidence suggests that the trends of employment are normalizing following the abnormally mild winter that helped to support activity in January and February”.
http://www.equityclock.com/2023/04/10/stock-market-outlook-for-april-11-2023/
Canadian Association for Technical Analysis Event
Next CATA presentation is offered tonight at 8:00 PM EDT. Speaker is Tom Bowley from www.StockCharts.com . Everyone is welcome. Not a member of CATA? More information is available at Home – Canadian Association for Technical Analysis (canadianata.ca)
Technical Notes
Lockheed Martin $LMT an S&P 100 stock moved above $495.83 to an all-time high extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 10th 2023
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for April 10th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 10th 2023
Green: Increase from previous day
Red: Decrease from previous day
Source for positive seasonal ratings: www.equityclock.com
Link offered by a valued provider
Return Of The Mega Caps Follow Up | Greg Harmon, CMT | Your Daily Five (04.10.23)
Return Of The Mega Caps Follow Up | Greg Harmon, CMT | Your Daily Five (04.10.23) – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 5.00 to 49.00. It remains Neutral.
The long term Barometer added 0.80 to 57.60 yesterday. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer added 1.72 to 51.50 yesterday. It remains Neutral.
The long term Barometer added 0.86 to 63.95 yesterday. It remains Overbought.
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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April 11th, 2023 at 3:31 pm
Ron/BC,
Thanks for correcting me – yes, WPM.TO was Still_learning’s pick.
I also heard that TD was the most shorted bank worldwide but I don’t think “they” really know what they are doing. Years ago, a popular short for American hedge funds was the “Great White Short” which did not work for them, except for the covid scare and recently but I don’t believe it will continue. Anyone who is short has to cover the dividend, which is currently ~ 4.5%.
This is an article from 2020, so not current, but I think the concepts are still relevant.
https://financialpost.com/investing/canadian-bank-short-sellers-saw-great-white-short-pay-off-march
April 11th, 2023 at 7:21 pm
Paula
Whenever I see extreme volume and all the hot shots trading something in one direction I remember the old saying, “If it’s obvious it’s obviously wrong.” That’s usually a good quote to live by……