{"id":175512,"date":"2024-04-12T02:22:00","date_gmt":"2024-04-12T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=175512"},"modified":"2024-04-12T08:46:32","modified_gmt":"2024-04-12T12:46:32","slug":"tech-talk-for-friday-april-12th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/04\/12\/tech-talk-for-friday-april-12th-2024\/","title":{"rendered":"Tech Talk for Friday April 12th 2024"},"content":{"rendered":"

Pre-opening Comments for Friday April 12th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 18 points at 8:30 AM EDT.<\/em><\/p>\n

JP Morgan<\/b> dropped $4.03 to $191.40 despite reporting higher than consensus first quarter results.<\/em><\/p>\n

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Wells Fargo<\/b> added $0.59 to $57.28 after reporting higher than consensus first<\/em> quarter results. Earnings were only 8% lower than the first quarter last year.<\/em><\/p>\n

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Advanced Micro Devices<\/b> dropped $3.08 to $167.42 and Intel <\/b>dropped $0.75 to $76.88 after China announced plans to remove their microchips from the country\u2019s telecom systems.<\/em><\/p>\n

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

Amazon<\/b> $AMZN a Dow Jones Industrial Average stock moved above $188.21 to an all-time high extending an intermediate uptrend. Most of the gain by major U.S. equity indices yesterday came from two stocks, Amazon and Apple. Apple gained $7.26 to 175.04 after the company previewed new products.<\/p>\n

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Wells Fargo<\/b> $WFC an S&P 100 stock moved below $56.37 completing a double top pattern. The company reports first quarter results today.<\/p>\n

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Bristol-Myers<\/b> $BMY an S&P 100 stock moved below $50.10 setting an intermediate downtrend.<\/p>\n

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Regeneron<\/b> $REGN a NASDAQ 100 stock moved below intermediate support at $923.03.<\/p>\n

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CVS Health<\/b> $CVS an S&P 100 stock moved below $70.19 setting an intermediate downtrend.<\/p>\n

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Fastenal<\/b> $FAST plunged $4.86 to $69.88 after reporting less than consensus first quarter results<\/p>\n

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Morgan Stanley<\/b> $MS plunged $4.81 to $86.84 on news that the company is under investigation by multiple regulatory authorities.<\/p>\n

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Cameco <\/b>$CCO.TO a TSX 60 stock moved above Cdn$69.18 to an all-time high extending an intermediate uptrend. <\/p>\n

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Brookfield Infrastructure<\/b> $BIP a TSX 60 stock moved below US$27.45 extending an intermediate downtrend.<\/p>\n

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Canadian Tire<\/b> $CTC.A.TO a TSX 60 stock moved below Cdn$128.88 to a 42 month low extending an intermediate downtrend.<\/p>\n

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Shopify<\/b> $SHOP.TO a TSX 60 stock moved below Cdn$98.60 completing a Head & Shoulders pattern. <\/p>\n

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

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

Daily Seasonal\/Technical Equity Trends for April 11th<\/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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for April 11th<\/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

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

Daily Seasonal\/Technical Sector Trends for April 11th<\/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

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

CPI Inflation Report Shakes Wall Street: Tom Bowley<\/b><\/p>\n

CPI Inflation Report Shakes Wall Street \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Short Squeeze Secrets to Crushing the Market: Joe Duarte<\/b><\/p>\n

Short Squeeze Secrets to Crushing the Market \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Big Banks Set To Kickoff Q1 Earnings Season: Guy Adami and Carter Worth<\/b><\/p>\n

Big Banks Set To Kickoff Q1 Earnings Season \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

MoneyTalk – What to expect from the upcoming Canadian federal budget<\/b><\/p>\n

MoneyTalk – What to expect from the upcoming federal budget \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped another 2.20 to 58.20. It changed from Overbought to Neutral on a drop below 60.00. Daily trend is down.<\/p>\n

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The long term Barometer dropped another 1.00 to 75.80. It remains Overbought. Daily trend is down. <\/p>\n

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

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The intermediate term Barometer dropped 2.68 to 60.27. It remains Overbought. Daily trend has turned down.<\/p>\n

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The long term Barometer added 0.45 to 71.43. It remains Overbought.<\/p>\n

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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 Friday April 12th U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points at 8:30 AM EDT. JP Morgan dropped $4.03 to $191.40 despite reporting higher than consensus first quarter results. Wells Fargo added $0.59 to $57.28 after reporting higher than consensus first quarter results. Earnings were […]<\/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-175512","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175512","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=175512"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175512\/revisions"}],"predecessor-version":[{"id":175522,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175512\/revisions\/175522"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=175512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=175512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=175512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}