{"id":175625,"date":"2024-04-16T02:22:00","date_gmt":"2024-04-16T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=175625"},"modified":"2024-04-16T08:57:31","modified_gmt":"2024-04-16T12:57:31","slug":"tech-talk-for-tuesday-april-16th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/04\/16\/tech-talk-for-tuesday-april-16th-2024\/","title":{"rendered":"Tech Talk for Tuesday April 16th 2024"},"content":{"rendered":"

Pre-opening Comments for Tuesday April 16th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures added 13 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures added 11 points following release of the March Housing Start report at 8:30 AM EDT.<\/b> Consensus was a drop to 1.480 million units versus 1.521 million units in February. Actual was a drop to 1.32 million units. <\/em><\/p>\n

The Canadian Dollar dropped US0.13 to US72.40 cents following released of Canada\u2019s March Consumer Price Index at 8:30 AM EDT.<\/b> Consensus was an increase of 0.6% versus a gain of 0.3% in February. Actual was an increase of 0.6%. On a year-over-year basis, consensus was an increase of 2.9%. Actual was an increase of 2.9%. Excluding food and energy, consensus on a year-over-year basis for CPI was an increase of 3.0%. Actual was an increase of 2.8%.<\/em><\/p>\n

Canadian investors are waiting for release of the Federal Government\u2019s budget scheduled for release at 4:00 PM EDT today.<\/em><\/b><\/p>\n

Live Nation<\/b> dropped $8.51 to $91.26 on report of a pending Justice Department antitrust suit. <\/em><\/p>\n

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UnitedHealth Group<\/b> advanced $30.37 to $476.00 after reporting higher than consensus first quarter revenues.<\/em><\/p>\n

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Morgan Stanley<\/b> added $3.01 to $90.00 after reporting higher than consensus first quarter revenues. <\/em><\/p>\n

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 <\/p>\n

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

S&P 500 Index dropped below its 50 day moving average<\/b>.<\/p>\n

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NASDAQ Composite Index dropped below its 50 day moving average<\/b><\/p>\n

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Emerging Markets iShares (EEM) were significantly weaker.<\/b> Notable weakness was recorded by Taiwan iShares $EWT and Vietnam ETF $VNM<\/p>\n

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U.S. Real Estate iShares<\/b> $IYR moved below $83.92 completing a double top pattern. Responding to higher interest rates!<\/p>\n

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Auto ETF<\/b> $CARZ moved below $56.98 completing a double top pattern. <\/p>\n

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S&P 100 and NASDAQ 100 stocks <\/b>that broke support setting intermediate downtrends included Salesforce.com<\/b> on a move below at $293.77, Advanced Micro Devices<\/b> on a move below $161.81,Workday<\/b> on a move below $262.56, GlobalFoundries<\/b> on a move below $48.12,<\/p>\n

Match <\/b>on a move below $32.33, NXP Semiconductor<\/b> on a move below $232.00, Synopsis on a move below $546.91, Zoom<\/b> on a move below $60.14, Intuitive Surgical<\/b> on a move below $376.60 and AT&T<\/b> on a move below $16.16<\/p>\n

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TC Energy<\/b> $TRP.TO a TSX 60 stock moved below Cdn$49.39 extending an intermediate downtrend. <\/p>\n

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Hydro One<\/b> $H a TSX 60 stock moved below Cdn$37.73 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 12th<\/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 15th<\/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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for April 15th<\/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

5 Stock Chart Leaders You Can’t Miss: Larry Tentarelli<\/b><\/p>\n

5 Stock Chart Leaders You Can’t Miss \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

Market is topping and signaling recession: technical analyst<\/b><\/p>\n

Market is topping and signaling recession: technical analyst \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Tax changes that could come this Federal budget: Talking Tax with BMO’s John Waters<\/b><\/p>\n

Tax changes that could come this Federal budget: Talking Tax with BMO’s John Waters \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

Death, Taxes and Higher For Longer with Liz Young and Chris Verrone<\/b><\/p>\n

Death, Taxes and Higher For Longer with Liz Young and Chris Verrone \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer plunged another 8.00 to 36.40. It changed from Neutral to Oversold on a move below 40.00. Daily downtrend was extended.<\/p>\n

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The long term Barometer dropped another 1.60 to 70.20. It remains Overbought. Daily trend remains down. <\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped another 0.89 to 52.68. It remains Neutral. Daily trend remains down.<\/p>\n

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The long term Barometer dropped 4.02 to 63.84. It remains Overbought. Daily trend remains down. <\/p>\n

 <\/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 Tuesday April 16th U.S. equity index futures were higher this morning. S&P 500 futures added 13 points at 8:35 AM EDT. S&P 500 futures added 11 points following release of the March Housing Start report at 8:30 AM EDT. Consensus was a drop to 1.480 million units versus 1.521 million units in […]<\/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-175625","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175625","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=175625"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175625\/revisions"}],"predecessor-version":[{"id":175633,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175625\/revisions\/175633"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=175625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=175625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=175625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}