{"id":175948,"date":"2024-04-26T02:22:00","date_gmt":"2024-04-26T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=175948"},"modified":"2024-04-26T08:56:41","modified_gmt":"2024-04-26T12:56:41","slug":"tech-talk-for-friday-april-26th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/04\/26\/tech-talk-for-friday-april-26th-2024\/","title":{"rendered":"Tech Talk for Friday April 26th 2024"},"content":{"rendered":"

Pre-opening Comments for Friday April 26th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 46 points at 8:35 AM EDT. <\/em><\/p>\n

S&P 500 futures added 11 points following release of the March PCE Price Index at 8:30 AM EDT.<\/b> Consensus was an increase of 0.2% versus a gain of 0.3% in February. Actual was a 0.2% increase. On a year-over-year basis, consensus for the March Index was a gain of 2.6% versus a gain of 2.5% in February. Actual was a 2.7% increase. Excluding food and energy, Consensus for the March PCE Price Index was an increase of 0.3% versus a gain of 0.3% in February. Actual was a 0.3% increase. On a year-over-year basis, consensus was an increase of 2.6% versus a gain of 2.8% in February. Actual was a 2.8% increase.<\/em><\/p>\n

Microsoft <\/b>gained $17.42 to $416.46 after reporting higher than consensus third quarter earnings.<\/em><\/p>\n

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Alphabet<\/b> added $18.30 to $174.30 after reporting higher than consensus first quarter earnings. <\/em><\/p>\n

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Intel <\/b>dropped $3.11 to 32.00 after reporting less than consensus fiscal second quarter revenues. <\/em><\/p>\n

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Gilead<\/b> gained $1.73 to $67.00 after reporting higher than consensus first quarter earnings.<\/em><\/p>\n

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 <\/p>\n

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

Chinese equities and related ETFs added to gains<\/b>. JD.com a NASDAQ 100 stock moved above $27.68 completing a reverse head & shoulders pattern<\/p>\n

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United Kingdom iShares<\/b> $EWU moved above $34.53 to an all-time high extending an intermediate uptrend.<\/p>\n

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Communication Services SPDRs<\/b> $XLC moved below $77.86 and $77.71 setting an intermediate downtrend. Largest individual holding with a 23.22% weight is META. Alphabet (GOOG and GOOGL) have a combined 24.59% weight.<\/p>\n

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S&P 100 and NASDAQ 100 stocks<\/b> moving below intermediate support following META\u2019s news after the close on Wednesday included Meta, Comcast, O\u2019Reilly Automotive, Bristol Myers, IBM and Dow Holdings<\/p>\n

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Philip Morris<\/b> $PM an S&P 100 stock moved above $99.67 to an all-time high extending an intermediate uptrend. <\/p>\n

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AstraZeneca $<\/b>AZN a NASDAQ 100 stock moved above $74.91 to an all-time high extending an intermediate uptrend. <\/p>\n

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HudBay Minerals<\/b> $HBM.TO a base metals producer moved above $11.10 to a three year high. Responding to takeover activity in the base metals sector as well as higher base metal prices. <\/p>\n

BHP and Anglo American, two major base metals producers are in talks either for a takeover by BHP or for a merger. <\/p>\n

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Waste Connection<\/b> $WCN.TO a TSX 60 stock moved below $225.90 and $222.68 completing a Head & Shoulders pattern.<\/p>\n

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 <\/p>\n

Wolf on Bay Street<\/strong><\/font><\/p>\n

Don Vialoux is a guest on the radio show this week. Discussion starts with \u201cSell in May and go away\u201d? The show is available at 7:00 PM EDT on Saturday on Corus Radio (Radio 640). <\/p>\n

 <\/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 25th<\/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 25th<\/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 25th<\/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

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

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

MoneyTalk – How the new capital gains rules could impact you<\/b><\/p>\n

MoneyTalk – How the new capital gains rules could impact you \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Meta Plunge Spooks Wall Street: Guy Adami and Liz Young<\/b><\/p>\n

Meta Plunge Spooks Wall Street \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 2.40 to 42.80. It remains Neutral.<\/p>\n

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The long term Barometer slipped 0.80 to 75.20. It remains Overbought.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer dropped 4.02 to 53.57. It remains Neutral.<\/p>\n

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The long term Barometer dropped 1.34 to 66.52. It remains Overbought.<\/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 Friday April 26th U.S. equity index futures were higher this morning. S&P 500 futures were up 46 points at 8:35 AM EDT. S&P 500 futures added 11 points following release of the March PCE Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.3% 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-175948","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175948","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=175948"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175948\/revisions"}],"predecessor-version":[{"id":175958,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/175948\/revisions\/175958"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=175948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=175948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=175948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}