Pre-opening Comments for Thursday April 27^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 23 points at 8:30 AM EDT.

Meta Platform advanced $24.70 to $234.15 after reporting higher than consensus first quarter earnings. The company also offered positive guidance.

eBay gained $1.61 to $44.97 after reporting higher than consensus fiscal second quarter revenues and earnings.

KLA Tencor advanced $7.89 to $365.25 after reporting higher than consensus fiscal third quarter earnings.

Roku added $1.72 to $58.28 after reporting higher than consensus first quarter earnings.

 

EquityClock’s Daily Comment

Headline reads “Head-and-shoulders topping patterns are becoming abundant across the charts”.

http://www.equityclock.com/2023/04/26/stock-market-outlook-for-april-27-2023/

 

Technical Notes

Chipotle $CMG an S&P 100 stock moved above $1,958.55 to an all-time high following release of higher than consensus first quarter results.

S&P 100 stocks breaking intermediate support: Charter Communications $CHTR moved below intermediate support at $322.88. General Dynamics $GD moved below $211.54 extending an intermediate downtrend. United Parcel Services $UPS moved below intermediate support at $176.09. Texas Instruments $TXN moved below intermediate support at $167.80.

NASDAQ 100 stocks breaking intermediate support: Illumina $ILMN moved below $212.51 setting an intermediate downtrend. Paychex $PAYX moved below $106.17 extending an intermediate downtrend. Moderna $MRNA moved below $133.66 extending an intermediate downtrend.

Bausch Health $BHC.TO a TSX 60 stock moved below $9.69 and $.946 setting an intermediate downtrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 26^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for April 26^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for April 26^th 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

Where’s Leadership Coming From? | Tom Bowley | Trading Places (04.25.23)

Where’s Leadership Coming From? | Tom Bowley | Trading Places (04.25.23) – YouTube

 

Next Canadian Association for Technical Analysis Meeting

Next meeting tonight at 8:00 PM EDT includes the annual meeting and a presentation by Scott McGregor. Everyone is welcome. Not a member? See https://canadianata.ca/ for information.

 

Technical Chart of the Day

Technical score for the Dow Jones Transportation Average dropped from -4 to -6:

· Intermediate downtrend extended on a move below 13,486.12: Score -2

· Strength relative to S&P 500 changed from Neutral to Negative: Score goes from 0 to -2

· Remains below its 20 day moving average: Score -1

· Daily momentum indicators (Stochastics, RSI, MACD continue to trend down: Score -1

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 8.00 to 39.00. It changed from Neutral to Oversold on a move below 40.00. Daily trend is down.

The long term Barometer dropped 4.80 to 48.60. It remains Neutral. Daily trend is down.

 

TSX Momentum Barometers

The intermediate term Barometer dropped 5.17 to 53.45. It remains Neutral. Daily trend is down.

The long term Barometer dropped 3.88 to 57.33. It changed from Overbought to Neutral on a drop below 60.00. Daily trend is 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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