Pre-opening Comments for Wednesday April 9th
U.S. equity index futures were lower this morning. S&P 500 futures were down 100 points at 8:30 AM EDT. Futures responded to concern about growing tariff wars.
Delta Airlines added $0.72 to $36.10 after reporting higher than consensus first quarter results.
![clip_image001[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/04/clip_image0014-2.png "clip_image001[4]")
Cal-Maine Foods dropped $3.98 to $86.35 after reporting less than consensus fiscal third quarter results.
![clip_image002[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/04/clip_image0024-3.png "clip_image002[4]")
Constellation Energy added $1.26 to $186.20 after Citigroup upgraded the stock from Neutral to Buy.
![clip_image003[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/04/clip_image0034-3.png "clip_image003[4]")
Ford dropped $0.24 to $8.45 after Bernstein downgraded the stock from Market Perform to Underperform.
![clip_image004[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/04/clip_image0044-2.png "clip_image004[4]")
EquityClock’s Market Outlook for April 9th
There is an extraordinary lockup in the economy that was apparent long before the tariff turmoil that needs to be solved in order to put stocks back on a sustainable rising path.
See:
https://equityclock.com/2025/04/08/stock-market-outlook-for-april-9-2025/
Technical Notes
VIX Index moved higher yesterday. A short term technical peak by the Index and a corresponding short term low by the S&P 500 Index have yet to be confirmed.
20 year+ Treasury Bond iShares $TLT moved below intermediate support at $88.31 when U.S. long term interest rates spiked higher.
Europe iShares $IEV moved below $51.38 setting an intermediate downtrend.
Ford $F an S&P 100 stock moved below $8.67 extending an intermediate downtrend. Other S&P 100 and NASDAQ 100 stocks breaking support extending an intermediate downtrend included Pepsico on a move below $140.27 and Linde on a move below $409.32
TSX 60 stocks moving below support extending an intermediate downtrend included
BCE on a move below Cdn$30.54, Canadian Natural Resources on a move below Cdn$36.62, Pembina Pipeline on a move below Cdn$50.22 and Restaurant Brands International on a move below Cdn$84.73
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 8th 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 8th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 8th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Markets Have Arrived at ‘Point of Maximum Uncertainty’: Evercore ISI’s Emanuel
Markets Have Arrived at ‘Point of Maximum Uncertainty’: Evercore ISI’s Emanuel – YouTube
It’s going to take time for markets to regain some trust, says Fundstrat’s Tom Lee
It’s going to take time for markets to regain some trust, says Fundstrat’s Tom Lee – YouTube
CHART THIS with David Keller, CMT Monday 4/7/25
CHART THIS with David Keller, CMT Monday 4/7/25 – YouTube
Stocks Surge on Hopes of Tariff Deals: Guy Adami and Dan Nathan
https://www.youtube.com/watch?v=WrcqiLPBVzQ
Tech Crash or Buying Opportunity with Gene Munster
Tech Crash or Buying Opportunity with Gene Munster – YouTube
Josh Brown calls today’s market move higher a "bear market bounce"
Josh Brown calls today’s market move higher a "bear market bounce" – YouTube
Might see a short-term bounce, but still cautious long-term, says investor Dan Niles
Might see a short-term bounce, but still cautious long-term, says investor Dan Niles – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped another 1.80 to 6.00, lowest level since October 2022. It remains extremely oversold, but has yet to show technical signs of a bottom.
The long term Barometer dropped another 1.80 to 18.60, lowest level since October 2022. It remains extremely oversold, but has yet to show technical signs of a bottom.
The short term Barometer (20 days) dropped 0.60 to 2.00, lowest level since October 2022
TSX Momentum Barometers
The intermediate term Barometer dropped another 1.38 to 16.06. It remains extremely oversold, but has yet to show signs of a bottom.
The long term Barometer dropped another 2.75 to 26.15, lowest level since October 2022. It remains extremely oversold, but has yet to show signs of a bottom.
The short term Barometer (20 days) dropped 0.92 to 3.67, lowest level since October 2022.
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 9th, 2025 at 9:53 am
Anyone been looking at the telcos? They’ve been getting hammered even before this tariff talk.
Fully agree with Bman on looking at the banks for a buy right now for yield.
April 9th, 2025 at 10:43 am
I had a low-ball bid in for Telus since last week. Got it yesterday. Now watching ENB.
April 9th, 2025 at 2:08 pm
I’m selling into rallies. USA looks and acts like an emerging market
What a gong show
April 9th, 2025 at 3:06 pm
Oh god,
how can people keep up with the new clown at the white house.
thursday i bought somne volx.to and qqd.to ended up selling both names yesterday with a 10 and 24% profit had i had the time to pull the trigger yesterday at the open as I was planning to do I would have accumultated 44 and 26% its better than today which the names are +13 a -5% from my buying point. As the great Canuck 2004 would say I would rather be in the middle with some profits then with a losing position.
April 9th, 2025 at 3:09 pm
oops switched my profits it should read volx.to +24% and qqd.to +10%