Pre-opening Comments for Wednesday April 2nd
U.S. equity index futures were lower this morning. S&P 500 futures were down 59 points at 8:30 AM EDT.
President Trump is scheduled to announce his tariff policies after 4:00 PM EDT today.
Tesla dropped $7.03 to $261.67 on news that the company’s EV sales in China were down 11% in the first quarter.
![clip_image001[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/04/clip_image0014.png "clip_image001[4]")
Charles Schwab added $1.07 to $78.74 after Citigroup upgraded the stock from Neutral to Buy. Target price was raised from $82 to $102.
![clip_image002[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/04/clip_image0024-1.png "clip_image002[4]")
Meta Platforms dropped $5.90 to $580.10 after the company’s head of AI research announced her departure from the company.
![clip_image003[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/04/clip_image0034-1.png "clip_image003[4]")
EquityClock’s Market Outlook for April 2nd
Health Care under renewed scrutiny as biotechnology stocks fall back to 52-week lows during this seasonally weak time of year. See:
https://equityclock.com/2025/04/01/stock-market-outlook-for-april-2-2025/
Technical Notes
Verisign $VRSN a NASDAQ 100 stock moved above $257.03 to an all-time high extending an intermediate uptrend.
Exelon $EXC a NASDAQ 100 stock moved above $45.49 to an all-time high extending an intermediate uptrend.
Rogers Communications $RCI.B.TO a TSX 60 stock moved below Cdn$37.50 to a nine year low extending an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 1st 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 1st 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 1st 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Top 10 Stock Charts for April 2025 – Big Breakouts Ahead?: David Keller and Grayson Roze
Top 10 Stock Charts for April 2025 – Big Breakouts Ahead? – YouTube
Markets could have the ‘right pieces’ for a bottom this week, says Fundstrat’s Tom Lee
Markets could have the ‘right pieces’ for a bottom this week, says Fundstrat’s Tom Lee – YouTube
Gold Could Reach $3,500 Says Bank of America
Gold Could Reach $3,500 Says Bank of America – YouTube
CHART THIS with David Keller, CMT Tuesday 4/1/25
https://www.youtube.com/watch?v=YeCf9JuzrCQ
S&P 500 Momentum Barometers
The intermediate term Barometer added 2.00 to 42.20. It remains Neutral.
The long term Barometer added 0.60 to 45.40. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer added 3.67 to 56.42. It remains Neutral.
The long term Barometer added 1.38 to 57.34. It remains Neutral.
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 2nd, 2025 at 12:41 pm
Gold at risk of a short-term reversal. It’s overbought. The warning sign I see is the recent relative underperformance of gold miners compared to the metal the last two or three trading days. They tend to outperform on the way up.
April 2nd, 2025 at 1:06 pm
Just to be clear I’m only looking for a minor pull-back at worst to the 20 day MA but I don’t think it will even go that far.
April 2nd, 2025 at 10:28 pm
Based on the “latest” update from captain cheeto, gold looks to be the preferred choice going forward. Will have to see how bad the selling is, as this may pull down gold short term as people are forced to liquidate and cover margin accts. However, overall gold and gold miners expect to outperform for the balance of 2025 unless the volatility from the WH goes away (which is unlikely).