Pre-opening Comments for Wednesday April 30th
U.S. equity index futures were lower this morning. S&P 500 futures dropped 45 points at 8:35 AM EDT
S&P 500 futures dropped 10 points following release of first quarter U.S. annualized GDP in the first quarter at 8:30 AM EDT. Consensus was a 0.4% increase versus a 2.4% gain in the fourth quarter. Actual was a 0.3% drop
The Canadian Dollar was unchanged at US72.28 cents following release of Canada’s February GDP at 8:30 AM EDT. Consensus was unchanged versus a 0.4% gain in January. Actual was a 0.2% drop.
Visa advanced $3.98 to $345.50 after reporting higher than consensus first quarter earnings.
![clip_image001[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/04/clip_image0011-6.png "clip_image001[1]")
Starbucks dropped $1.10 to $83.75 after reporting less than consensus fiscal second quarter results.
![clip_image002[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/04/clip_image0021-8.png "clip_image002[1]")
First Solar dropped $14.01 to $123.00 after reporting less than consensus quarterly results. The company also lowered guidance.
![clip_image003[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/04/clip_image0031-2.png "clip_image003[1]")
Super Micro Computer dropped $5.15 to $30.85 after lowering quarterly guidance.
![clip_image004[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/04/clip_image0041-5.png "clip_image004[1]")
EquityClock’s Market Outlook for April 30th
Tariff front-running was highly influential in economic activity in March, resulting in a record first quarter increase in imports and the fourth largest decline in job openings. See:
https://equityclock.com/2025/04/29/stock-market-outlook-for-april-30-2025/
Technical Notes
Japan iShares $EWJ moved above $71.88 to an all-time high extending an intermediate uptrend.
Healthcare SPDRs $XLV moved above $139.44 completing a double bottom pattern. Technical score increased from 0 to 4.
Cognizant $CTSH a NASDAQ 100 stock moved above $73.21 completing a double bottom pattern.
Magna International $MG.TO a TSX 60 stock moved above Cdn$47.87 completing a double bottom pattern. Response to auto tariffs peeling back?
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 29th 2025
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 29th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 29th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Planes, Trains & Automobiles: Economic Warning? Guy Adami and Dan Nathan
https://www.youtube.com/watch?v=gN6R8vI2RGM
CHART THIS with David Keller, CMT Tuesday 4/29/25
Note comments on the inverted yield curve
https://www.youtube.com/watch?v=DYBlQ1TU9LI
S&P 500 Momentum Barometers
The intermediate term Barometer advanced another 4.80 to 40.00. It changed from Oversold to Neutral by reaching 40.00. Daily uptrend was extended
The long term Barometer added another 1.40 to 36.80. It remains Oversold. Daily uptrend was extended.
Short term (20 days) Barometer added another 4.60 to 78.20. It remains Overbought. Uptrend was extended.
TSX Momentum Barometers
The intermediate term Barometer slipped 1.38 to 53.67. It remains Neutral.
The long term Barometer added another 1.38 to 52.75. It remains Neutral.
The short term (20 days) Barometer slipped 0.92 to $78.44. It remains Overbought. Early signs of an approaching peak?
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 30th, 2025 at 11:19 am
Paula:
Just to answer some of your questions from Monday. As a general rule, a strong trend is defined by a rising ADX line or by having all the moving average moving in the same direction. Neither of these conditions exist for ZEB.to. As for the moving averages, I failed to identify that it was a weekly chart of ZEB.to that I posed. I use a 40ema because it is the same as a 200-day ema on a daily chart. I use the 40ema for consistency. The 4ema I picked up from Ron/BC years ago as a useful average to watch. And the 18ema is an average somewhere between the other two that I find useful. (I did make an error on the chart I posted, I labelled the moving averages as 18-day EMA and 4-day EMA. But, it is a weekly chart so correctly, the moving average lines are 18-week EMA and 4-week EMA). As for the 1.0 height on the Ron/BC modified MACD, I use that scale to make it easy to see the detail on crossovers and near crossovers. Just a convenience thing. And would I wait for the 4ema to cross above the 18ema. Yes, I would. But it depends on your risk tolerance. Remember also, it is a weekly chart, so you can’t really draw conclusions on breakouts and crossovers too early in the week.