Pre-opening Comments for Thursday April 13^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points at 8:35 AM EDT.

Index futures moved higher following release of the March Producer Price Index at 8:30 AM EDT. Consensus was an increase 0.1% versus a decline of 0.1% in February. Actual was a drop of 0.5%. On a year-over-year basis, Consensus was an increase 3.1% versus 4.9% in February. Actual was an increase of 2.7%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.2% in February. Actual was a decline of 0.1%. On a year-over-year basis, consensus was an increase 3.8% versus a gain of 4.5% in February. Actual was a gain of 3.6%.

Harley Davidson dropped $1.11 to $36.25 after the company’s Chief Operating Officer exited the company to take a similar position at Hasbro.

Merck added $1.34 to $115.09 after Citigroup upgraded the stock from Neutral to Buy.

Alibaba $BABA added $1.04 to $94.88 on a report that SoftBank sold most of its stake in the company.

Delta Airlines added $1.46 to $$35.20 after reporting higher than consensus first quarter revenues. The company also offered positive guidance.

 

EquityClock’s Daily Comment

Headline reads “Shelter prices continue to rise at a record setting pace, keeping core inflationary pressures elevated, despite the Fed’s best efforts to cool this cost of living”.

http://www.equityclock.com/2023/04/12/stock-market-outlook-for-april-13-2023/

 

Technical Notes

Gasoline ETN $UGA moved above $65.21 extending an intermediate uptrend.

WTI Crude Oil moved above $80.94 and $82.66 setting an intermediate uptrend.

EAFA iShares $EFA moved above $72.44 extending an intermediate uptrend.

United Kingdom iShares $EWU moved above $33.18 extending an intermediate uptrend.

Vertex Pharma $VRTX a NASDAQ 100 stock moved above $325.19 to an all-time high extending an intermediate uptrend.

Match $MTCH a NASDAQ 100 stock moved below $34.62 extending an intermediate downtrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 12^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for April 12^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for April 12^th 2023

Green: Increase from previous day

Red: Decrease from previous day

Source for positive seasonal ratings: www.equityclock.com

 

Links offered by valued providers

Go Away In May? No Way! | Tom Bowley | Your Daily Five (04.12.23)

Go Away In May? No Way! | Tom Bowley | Your Daily Five (04.12.23) – YouTube

 

Last Gasp Or First Surge? | Greg Schnell, CMT | Market Buzz (04.12.23)

Last Gasp Or First Surge? | Greg Schnell, CMT | Market Buzz (04.12.23) – YouTube

 

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 3.00 to 49.80. It remains Neutral.

The long term Barometer dropped 2.20 to 59.80. It changed from Overbought to Neutral on a drop below 60.00.

 

TSX Momentum Barometers

The intermediate term Barometer was unchanged at 57.08. It remains Neutral.

The long term Barometer slipped 0.80 to 66.95. 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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