{"id":175897,"date":"2024-04-25T02:22:00","date_gmt":"2024-04-25T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=175897"},"modified":"2024-04-25T08:51:27","modified_gmt":"2024-04-25T12:51:27","slug":"tech-talk-for-thursday-april-25th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/04\/25\/tech-talk-for-thursday-april-25th-2024\/","title":{"rendered":"Tech Talk for Thursday April 25th 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday April 25th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 50 points at 8:35 AM EDT.<\/em><\/p>\n

S&P 500 futures dropped another 14 points following release of U.S. first quarter annualized GDP at 8:30 AM EDT.<\/b> Consensus was an increase of 2.5% versus a gain of 3.4% in the fourth quarter. Actual was an increase of 1.6%.<\/em><\/p>\n

Meta Platforms<\/b> plunged $70.18 to $423.32 after offering second quarter revenue guidance less than consensus. <\/em><\/p>\n

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The other \u201cFantastic Four\u201d stocks responded to the downside following release of the META report<\/b>. Microsoft<\/em> dropped $8.84 to $400.72 and Amazon dropped $4.69 to $171.90.<\/p>\n

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IBM <\/b>dropped $12.68 to $171.42 despite reporting higher than consensus first quarter earnings. The company also announced plans to acquire Hashicorp for $6.4 billion.<\/em><\/p>\n

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Ford<\/b> gained $0.35 to $13.30 after reporting higher than consensus first quarter results.<\/em><\/p>\n

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Chipotle<\/b> added $98.24 to $3,025.00 after reporting higher than consensus first quarter results.<\/em><\/p>\n

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 <\/p>\n

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

China large cap iShares<\/b> $FXI moved above $24.89 completing a reverse Head & Shoulders pattern.<\/p>\n

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Texas Instruments<\/b> $TXN an S&P 100 stock moved above $177.75 extending an intermediate uptrend. The company reported higher than consensus first quarter results.<\/p>\n

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Procter & Gamble<\/b> $PG a Dow Jones Industrial Average stock moved above $162.09 to an all-time high extending an intermediate uptrend. <\/p>\n

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Coca Cola<\/b> $KO a Dow Jones Industrial Average stock moved above $61.43 extending an intermediate uptrend.<\/p>\n

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Old Dominion Freight<\/b> $ODFL a NASDAQ 100 stock moved below $208.32 and $205.89 setting an intermediate downtrend.<\/p>\n

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Canadian National Railway<\/b> $CNR.TO a TSX 60 stock moved below intermediate support at Cdn$171.02. First quarter results were less than consensus.<\/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 24th<\/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

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 24th<\/sup> 2024<\/p>\n

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

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

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

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

Daily Seasonal\/Technical Sector Trends for April 24th<\/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

Next Canadian Association for Technical Analysis Presentation<\/strong><\/font><\/p>\n

Next presentation on Zoom is offered this evening at 8:00 PM EDT. Presenter is Jon Vialoux<\/font><\/strong>. Everyone is welcome. Not a member of CATA? Contact CATA Meeting – April 25 – Jon Vialoux<\/strong> – Events – Canadian Association for Technical Analysis (canadianata.ca)<\/a><\/p>\n

 <\/p>\n

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

Buy the Dip or Sell the Rip? David Keller<\/b><\/p>\n

Buy the Dip or Sell the Rip? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

The market is recovering from a ‘pseudo-recession’, says Stifel’s Barry Bannister<\/b><\/p>\n

The market is recovering from a ‘pseudo-recession’, says Stifel’s Barry Bannister \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Pinpoint Next Buying Opportunity in SPY: Joe Rabil<\/b><\/p>\n

Pinpoint Next Buying Opportunity in SPY \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer slipped 0.20 to 45.20. It remains Neutral.<\/p>\n

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The long term Barometer was unchanged at 76.00. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer was unchanged at 67.86. It remains Overbought.<\/p>\n

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The long term Barometer dropped 1.79 to 57.59. It remains Neutral<\/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 25th U.S. equity index futures were lower this morning. S&P 500 futures were down 50 points at 8:35 AM EDT. S&P 500 futures dropped another 14 points following release of U.S. first quarter annualized GDP at 8:30 AM EDT. Consensus was an increase of 2.5% versus a gain of 3.4% […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-175897","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175897","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=175897"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175897\/revisions"}],"predecessor-version":[{"id":175911,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175897\/revisions\/175911"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=175897"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=175897"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=175897"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}