{"id":175467,"date":"2024-04-11T02:22:00","date_gmt":"2024-04-11T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=175467"},"modified":"2024-04-11T08:49:53","modified_gmt":"2024-04-11T12:49:53","slug":"tech-talk-for-thursday-april-11th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/04\/11\/tech-talk-for-thursday-april-11th-2024\/","title":{"rendered":"Tech Talk for Thursday April 11th 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday April 11th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 4 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures recovered 25 points following release of the March U.S. Producer Price Index at 8:30 AM EDT<\/b>. Consensus was an increase of 0.3% versus a gain of 0.6% in February. Actual was an increase of 0.2%. On a year-over-year basis consensus was an increase of 2.3% versus a gain of 1.6% in February. Actual was an increase of 2.1%. Excluding food and energy, consensus for the March PPI was an increase of 0.2% versus a gain of 0.3% in February. Actual was an increase of 0.3%. On a year-over-year basis consensus for core PPI was an increase of 2.3% versus a gain of 2.0% in February. Actual was an increase of 2.4%.<\/em><\/p>\n

Alpine Immune Sciences<\/b> advanced $17.21 to $64.26 after Vertex Pharmaceutical offered to purchase the company for $65.00 per share cash. Value of the offer is $4.9 billion.<\/em><\/p>\n

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

Regeneron <\/b>dropped $16.20 to $920.00 after the U.S. Justice Department issued a complaint alleging fraudulent drug pricing.<\/em><\/p>\n

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CarMax<\/b> dropped $6.00 to $73.30 after reporting less than consensus fiscal fourth quarter results.<\/em><\/p>\n

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 <\/p>\n

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

The U.S. Dollar Index<\/b> moved above 104.88 extending an intermediate uptrend. <\/p>\n

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The Canadian Dollar<\/b> dropped to a four month low after release of the \u201chotter than expected\u201d U.S. March CPI and after the Bank of Canada\u2019s decision to maintain its bank lending rate at 5.0%.<\/p>\n

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Dow Jones Industrial Average SPDRs<\/b> $DIA broke below intermediate support at $384.00 and moved below its 50 day moving average at $388.28.<\/p>\n

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Dow Jones Transportation Average iShares<\/b> $IYT broke below $67.74 and moved below its 50 day moving average at $68.87 completing a double top pattern.<\/p>\n

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Technology SPDRs <\/b>XLK broke below support at $204.26 and moved below its 50 day moving average at $205.77.<\/p>\n

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S&P\/TSE Technology iShares<\/b> $XIT.TO moved below Cdn$52.68 completing a double top pattern.<\/p>\n

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Cenovus Energy<\/b> $CVE.TO a TSX 60 stock moved above Cdn$29.85 to a 12 year high extending an intermediate uptrend.<\/p>\n

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SNC Lavalin<\/b> $ATRL.TO a TSX 60 stock moved below Cdn$54.02 completing a double top pattern. <\/p>\n

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Magna International<\/b> $MG.TO a TSX 60 stock moved below Cdn$70.27 setting an intermediate downtrend. <\/p>\n

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Power Corp<\/b> $POW.TO a TSX 60 stock moved below Cdn$36.72 extending an intermediate downtrend.<\/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 10th<\/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 10th<\/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

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

Daily Seasonal\/Technical Sector Trends for April 10th<\/sup> 2024<\/p>\n

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

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

 <\/p>\n

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

Tech Stock Warning: Impact of Rising Rates: Danielle Shay<\/b><\/p>\n

Tech Stock Warning: Impact of Rising Rates \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Stocks Sink on Hot Inflation Data: Guy Adami, Dan Nathan and Liz Young<\/b><\/p>\n

Stocks Sink on Hot Inflation Data \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

‘Squawk on the Street’ crew react to March’s CPI report<\/b><\/p>\n

‘Squawk on the Street’ crew react to March’s CPI report \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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

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

The intermediate term Barometer plunged 14.80 to 60.40. It remains Overbought. Daily trend is down.<\/p>\n

\"clip_image018\"<\/a><\/p>\n

The long term Barometer dropped 5.80 to 76.80. It remains Overbought. Daily trend is down. <\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer plunged 8.93 to 62.95. It remains Overbought.<\/p>\n

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The long term Barometer dropped 4.91 to 70.88. 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 Thursday April 11th U.S. equity index futures were lower this morning. S&P 500 futures were down 4 points at 8:35 AM EDT. S&P 500 futures recovered 25 points following release of the March U.S. Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.6% […]<\/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-175467","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175467","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=175467"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175467\/revisions"}],"predecessor-version":[{"id":175475,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175467\/revisions\/175475"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=175467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=175467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=175467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}