{"id":175424,"date":"2024-04-10T02:22:00","date_gmt":"2024-04-10T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=175424"},"modified":"2024-04-10T08:42:41","modified_gmt":"2024-04-10T12:42:41","slug":"tech-talk-for-wednesday-april-10th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/04\/10\/tech-talk-for-wednesday-april-10th-2024\/","title":{"rendered":"Tech Talk for Wednesday April 10th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday April 10th<\/sup><\/font><\/strong><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were down 54 points at 8:35 AM EDT.<\/em><\/p>\n

U.S. Index futures plunged 61 points following release of the March U.S. Consumer Price Index at 8:30 AM EDT.<\/b> Consensus was an increase of 0.3% versus a gain of 0.4% in February. Actual was an increase of 0.4%. On a year-over-year basis, consensus was an increase of 3.4% versus a gain of 3.2% in February. Actual was an increase of 3.5%. Excluding food and energy, consensus for March CPI was an increase of 0.3% versus a gain of 0.4% in February. Actual was an increase of 0.4%. On a year-over-year basis, consensus for March core CPI was an increase of 3.7% versus a gain of 3.8% in February. Actual was an increase of 3.8%.<\/em><\/p>\n

Procter & Gamble<\/b> added $0.33 to $156.99 after increasing its dividend by 7%.<\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

WD 40<\/b> dropped $4.22 to $250.83 after reporting lower fiscal second quarter results. <\/em><\/p>\n

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Delta Airlines<\/b> gained $2.08 to $49.400 after reporting higher than consensus first quarter earnings.<\/em><\/p>\n

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 <\/p>\n

Technical Notes<\/strong><\/font><\/p>\n

Emerging Markets iShares<\/b> $EEM moved above $41.42 to a two year high extending an intermediate uptrend. <\/p>\n

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BMO Equal Weight Base Metals<\/b> ETF $ZMT.TO moved above Cdn$66.45 to an all-time high extending an intermediate uptrend. <\/p>\n

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Global Metals & Mining iShares<\/b> $PICK moved above $43.80 setting an intermediate uptrend.<\/p>\n

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Teck Resources<\/b> $TECK.B.TO a TSX 60 stock moved above Cdn$65.46 to an all-time high extending an intermediate uptrend. Also, Scotia Bank raised its target price to Cdn$75.00.<\/p>\n

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Freeport McMoran<\/b> $FCX moved above $50.33 to an all-time high extending an intermediate uptrend.<\/p>\n

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Nvidia<\/b> $NVDA a NASDAQ 100 stock moved below $850.10completing a double top pattern. <\/p>\n

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Boeing<\/b> $BA a Dow Jones Industrial Average stock moved below $177.52 and $176.25 extending an intermediate downtrend. <\/p>\n

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Comcast <\/b>$CMCSA an S&P 100 stock moved below $40.44 setting an intermediate downtrend.<\/p>\n

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GE Healthcare<\/b> $GEHC a NASDAQ 100 stock moved below $86.55 completing a double top pattern. <\/p>\n

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MercadoLibre <\/b>$MELI a NASDAQ 100 stock moved below $1,480.04 completing a Head & Shoulders pattern. <\/p>\n

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 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for April 9th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

Source for all positive seasonality ratings: <\/em>www.EquityClock.com<\/em><\/a><\/p>\n

<\/em><\/p>\n

Commodities<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Commodities Trends for April 9th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/b><\/font><\/em><\/p>\n

Red: Decrease from previous day<\/em><\/p>\n

 <\/p>\n

Sectors <\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Sector Trends for April 9th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

<\/em><\/p>\n

Links offered by valued providers<\/strong><\/font><\/p>\n

Despite Stable Markets, Breadth Says Danger: David Keller<\/b><\/p>\n

Despite Stable Markets, Breadth Says Danger \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Lookahead to the Fed’s interest rate cuts for the year: Mike O\u2019Rourke, Jones Trading<\/b><\/p>\n

Lookahead to the Fed’s interest rate cuts for the year \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

VIX Drops, Stock Market Steadies: Tom Bowley<\/b><\/p>\n

VIX Drops, Stock Market Steadies \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

How to Play for a Pullback in the S&P 500: Guy Adami, Dan Nathan and Carter Worth<\/b><\/p>\n

How to Play for a Pullback in the S&P 500 \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

A hot CPI report could reignite Fed talks of hikes, warns SoFi’s Liz Young<\/b><\/p>\n

A hot CPI report could reignite Fed talks of hikes, warns SoFi’s Liz Young \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image017\"<\/a><\/p>\n

The intermediate term Barometer added 1.08 to 75.20. It remains Overbought.<\/p>\n

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The long term Barometer added 3.00 to 82.60. It remains Overbought.<\/p>\n

 <\/p>\n

TSX Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image019\"<\/a><\/p>\n

The intermediate term Barometer added 4.02 to 71.88. It remains Overbought.<\/p>\n

\"clip_image020\"<\/a><\/p>\n

The long term Barometer added 3.12 to 75.89. It remains Overbought.<\/p>\n

<\/b><\/p>\n

Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/em><\/a> 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<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Wednesday April 10th U.S. equity index futures were higher this morning. S&P 500 futures were down 54 points at 8:35 AM EDT. U.S. Index futures plunged 61 points following release of the March U.S. Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.4% […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-175424","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/comments?post=175424"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175424\/revisions"}],"predecessor-version":[{"id":175432,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175424\/revisions\/175432"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=175424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=175424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=175424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}