Pre-opening Comments for Friday April 10th
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points at 8:35 AM EST
The Canadian Dollar was unchanged at US72.36 cents following release of the March Employment Report at 8:30 AM EST. Consensus called for a 15,000 increase in employment and no change at 6.7% in the unemployment rate. Actual was a 14,000 increase in employment and no change in the in the unemployment rate.
S&P 500 futures added 4 points following release of the March U.S. Consumer Price Report at 8:30 AM EST. Consensus was a 0.9% increase versus a 0.3% increase in February. Actual was a 0.9% increase. On a year-over-year basis consensus was a 3.3% increase versus a 2.4% increase in February. Actual was a 3.3% increase. Excluding food and energy, consensus was a 0.3 % increase versus a 0.2% increase in February. Actual was a 0.2% increase. On a year-over-year basis, consensus for Core CPI was a 2.7% increase versus a 2.5% increase in February. Actual was a 2.6% increase.
EquityClock’s Market Outlook for April 10th
Large-cap valuations are well off of the unsustainable levels recorded over the past few years, but small caps may provide the better opportunity given that they are trading at a discount to their history and larger-cap counterparts. See:
https://equityclock.com/2026/04/09/stock-market-outlook-for-april-10-2026/
Stocks Are Climbing Again, But Are We in the Clear? StocksCharts
Stocks Are Climbing Again, But Are We in the Clear? (stockcharts.com)
Why Stock Traders Should be Optimistic: Mark Leibovit
https://www.howestreet.com/2026/04/why-stock-traders-should-be-optimistic-mark-leibovit/
Technical Notes
Utilities SPDRs (XLU) moved above $47.37 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable until May 12th. See seasonality chart at www.EquityClock.com
Brazil iShares (EWZ) moved above $39.69 to a 14 year high extending an intermediate uptrend.
S&P 100 and NASDAQ 100 stocks breaking resistance extending intermediate uptrends included Fastenal (FAST) on a move above $48.44, KLA Corp (KLAC) on a move above 1,691.15, American Electric Power (AEP) on a move above $135.00, NextEra Energy (NEE) on a move above $95.26, Caterpillar (CAT) on a move above $769.81 and Lam Research (LRCX) on a move above $256.37 and Applied Materials (AMAT) on a move above $395.95
S&P 100 and NASDAQ 100 stocks breaking support extending intermediate downtrends included Workday (WDAY) on a move below $117.76, Salesforce.com (CRM) on a move below $174.13, Paychex (PAYX) on a move below $89.00 and Okta (OKTA) on a move below $68.77.
Canadian Tire (CTC.A.TO) a TSX 60 stock moved above Cdn$197.19 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable until May 24th. See seasonality chart at www.EquityClock.com
TC Energy (TRP.TO) a TSX 60 stock moved above Cdn$88.78 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable until May 6th. See seasonality chart at www.EquityClock.com
CGI Group (GIB) a TSX 60 stock moved below US$69.96 extending an intermediate downtrend.
Telus (T.TO) a TSX 60 stock moved below Cdn$16.87 to a 5 year low extending an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 9th 2026
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 9th 2026
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 9th 2026
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Big Rally After Headlines — But What Happens Next? Tom Bowley
Big Rally After Headlines — But What Happens Next? – YouTube
Tom Lee: The stock market bottom is in
Tom Lee: The stock market bottom is in – YouTube
Iran Ceasefire Deal Holds Markets On Edge: Guy Adami and Dan Nathan
Iran Ceasefire Deal Holds Markets On Edge – YouTube
Market Becoming "Casino-Like?" How Short-Term Traders Dominate Price Action: Liz Ann Sonders
Market Becoming "Casino-Like?" How Short-Term Traders Dominate Price Action – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 1.00 to 49.40. It remains Neutral. Daily uptrend was extended.
The short term (20 days) Barometer slipped 1.20 to 72.80. It remains Overbought.
The long term Barometer added 1.20 to 57.00. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer dropped 2.71 to 56.56. It remains Neutral.
The short term (20 days) Barometer dropped 4.07 to 71.49. It remains Overbought.
The long term Barometer dropped 0.90 to 74.66. 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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Equity Clock Publications