{"id":175664,"date":"2024-04-17T02:22:00","date_gmt":"2024-04-17T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=175664"},"modified":"2024-04-17T08:53:37","modified_gmt":"2024-04-17T12:53:37","slug":"tech-talk-for-wednesday-april-17th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/04\/17\/tech-talk-for-wednesday-april-17th-2024\/","title":{"rendered":"Tech Talk for Wednesday April 17th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday April 17th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 13 points at 8:30 AM EDT.<\/em><\/p>\n

Take Two Interactive<\/b> added $1.55 to $147.00 after the company announced a cost cutting program.<\/em><\/p>\n

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

JB Hunt Transport<\/b> dropped $9.99 to $173.00 after forecasting lower volumes.<\/em><\/p>\n

\"clip_image002[1]\"<\/a><\/p>\n

United Airlines<\/b> gained $2.03 to $43.55 after forecasting fiscal second quarter above consensus estimates. <\/em><\/p>\n

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Travellers<\/b> dropped $6.12 to $217.00 after reporting less than consensus first quarter earnings.<\/em><\/p>\n

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 <\/p>\n

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

Solar ETF<\/b> $TAN moved below $40.15 extending an intermediate downtrend. <\/p>\n

\"clip_image001\"<\/a><\/p>\n

Berkshire Hathaway<\/b> $BRK.B an S&P 100 stock moved below $398.78 completing a double top pattern. <\/p>\n

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Bank of New York Mellon<\/b> an S&P 100 stock moved below $53.40 setting an intermediate downtrend.<\/p>\n

\"clip_image003\"<\/a><\/p>\n

Ford<\/b> $F an S&P 100 stock moved below $11.98 and $11.95 setting an intermediate downtrend.<\/p>\n

\"clip_image004\"<\/a><\/p>\n

Target<\/b> $TGT an S&P 100 stock moved below intermediate support at $162.71.<\/p>\n

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Dollar Tree<\/b> $DLTR a NASDAQ 100 stock moved below $124.01 extending an intermediate downtrend.<\/p>\n

\"clip_image006\"<\/a><\/p>\n

Emera<\/b> $EMT.TO a TSX 60 stock moved below $46.23 and $45.94 setting an intermediate downtrend.<\/p>\n

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Fortis<\/b> $FTS.TO a TSX 60 stock moved below $51.13 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<\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for April 16th<\/sup> 2024<\/p>\n

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

Red: Decrease from previous day<\/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 16th<\/sup> 2024<\/p>\n

\"clip_image012\"<\/a><\/b><\/p>\n

Green: Increase from previous day<\/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 16th<\/sup> 2024<\/p>\n

\"clip_image014\"<\/a><\/p>\n

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

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

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

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

Is Market Breadth Signaling THE TOP?! David Keller<\/b><\/p>\n

Is Market Breadth Signaling THE TOP?! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

SP500 Technical Analysis 4-16-24 (Elliott Wave Theory)<\/b><\/p>\n

SP500 Technical Analysis 4-16-24 (Elliott Wave Theory) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The Chances of a Market CRASH: Tom Bowley<\/b><\/p>\n

The Chances of a Market CRASH \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Powell Says Fed Policy Will Likely Need More Time to Work<\/b><\/p>\n

Powell Says Fed Policy Will Likely Need More Time to Work \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

VIX Above 20 Will Trigger Selling Surge: Tom Bowley<\/b><\/p>\n

VIX Above 20 Will Trigger Selling Surge \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Budget announcements<\/strong><\/font> impacting TSFAs and capital gains<\/em><\/font><\/p>\n

Source: BNNBloomberg<\/p>\n

\u201cBudget 2024 announces the government\u2019s intention to increase the inclusion rate on capital gains realized annually above $250,000 by individuals and on all capital gains realized by corporations and trusts from one-half to two-thirds, by amending the Income Tax Act, effective June 25, 2024,\u201d the budget reads. <\/p>\n

\u201cThe inclusion rate for capital gains realized annually up to $250,000 by individuals will continue to be one-half.\u201d<\/p>\n

Around 12 per cent of Canadian companies would be subject to the higher inclusion rate, according to the federal government. While around 0.13 per cent of Canadians with average incomes of $1.42 million are believed to see their personal income tax on capital gains rise due to the proposed amendment.<\/p>\n

John Oakey, the VP of taxation at CPA Canada, said in an interview with BNNBloomberg.ca Tuesday some may try to solidify gains while they can under the current rules. <\/p>\n

\u201cIt will probably result in some planning to try to determine if corporations, businesses or even individuals want to trigger any of their capital gains in anticipation of the June 25 date and do it prematurely to try to get under the 50 per cent inclusion rate instead the two thirds,\u201d he said. <\/p>\n

The Department of Finance said that middle-class Canadians will continue to benefit from various exemptions. This includes the $250,000 annual threshold, tax-free savings accounts (TFSAs), the principal residence exemption as well as exemptions for registered pension plans. <\/p>\n

 <\/p>\n

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

\"clip_image015\"<\/a><\/p>\n

The intermediate term Barometer dropped another 5.60 to 30.80. It remains Oversold. Daily trend remains down.<\/p>\n

\"clip_image016\"<\/a><\/p>\n

The long term Barometer dropped 1.40 to 68.80. It remains Overbought. Daily trend remains down.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer dropped another 2.68 to 50.00. It remains Neutral. Daily trend is down. <\/p>\n

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

The long term Barometer slipped 0.45 to 63.39. It remains Overbought. Daily trend is 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 Wednesday April 17th U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points at 8:30 AM EDT. Take Two Interactive added $1.55 to $147.00 after the company announced a cost cutting program. JB Hunt Transport dropped $9.99 to $173.00 after forecasting lower volumes. United Airlines gained $2.03 […]<\/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-175664","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175664","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=175664"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175664\/revisions"}],"predecessor-version":[{"id":175674,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175664\/revisions\/175674"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=175664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=175664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=175664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}