{"id":176066,"date":"2024-05-01T02:22:00","date_gmt":"2024-05-01T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=176066"},"modified":"2024-05-01T08:50:27","modified_gmt":"2024-05-01T12:50:27","slug":"tech-talk-for-wednesday-may-1st-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/05\/01\/tech-talk-for-wednesday-may-1st-2024\/","title":{"rendered":"Tech Talk for Wednesday May 1st 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday May 1st<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning. <\/b>S&P 500 futures were down 20 points at 8:30 AM EDT.<\/em><\/p>\n

Focus today is on the FOMC\u2019s announcement on the Fed Fund Rate<\/b> at 2:00 PM EDT. Consensus calls for no change in the Rate at 5.25%-5.50%.<\/em><\/p>\n

Amazon<\/b> added $2.16 to $177.16 after reporting higher than consensus first quarter revenues and earnings. <\/em><\/p>\n

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Starbucks<\/b> plunged $10.03 to $78.46 after reporting less than consensus quarterly revenues and earnings. <\/em><\/p>\n

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Super Micro Computers<\/b> dropped $31.55 to $858.80 after reporting less than consensus third quarter revenues. <\/em><\/p>\n

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Advanced Micro Devices<\/b> dropped $5.94 to $152.40 after forecasting less than consensus second quarter revenues. <\/em><\/p>\n

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 <\/p>\n

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

Aerospace & Defense ETF<\/b> $PPA moved above $102.00 to an all-time high extending an intermediate uptrend. <\/p>\n

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MMM<\/b> $MMM a Dow Jones Industrial Average stock moved above $95.67 extending an intermediate uptrend.<\/p>\n

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Altria <\/b>$MO an S&P 100 stock moved above $44.02 extending an intermediate uptrend <\/p>\n

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PayPal <\/b>$PYPL a NASDAQ 100 stock moved above $68.21 extending an intermediate uptrend.<\/p>\n

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McDonald\u2019s<\/b> $MCD a Dow Jones Industrial Average stock moved below $265.11 extending an intermediate downtrend. Quarterly results were less than consensus.<\/p>\n

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Warner Discovery<\/b> $WBD a NASDAQ 100 stock moved below $8.02 extending an intermediate downtrend.<\/p>\n

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Align<\/b> $ALGN a NASDAQ 100 stock moved below $296.14 and $296.50 completing a Head & Shoulders pattern. <\/p>\n

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A move by the U.S. Federal Government to \u201clegitimize\u201d cannabis<\/b> had a strong positive impact on related Canadian and U.S. stocks and Exchange Traded Funds. <\/p>\n

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 <\/p>\n

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 30th<\/sup> 2024<\/p>\n

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Green:<\/em> Increase from previous day<\/em><\/font><\/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 30th<\/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

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

Daily Seasonal\/Technical Sector Trends for April 30th<\/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

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

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

Key Levels for AMZN, AMD, & AAPL Earnings! Dave Keller<\/b><\/p>\n

Key Levels for AMZN, AMD, & AAPL Earnings! \u2013 YouTube<\/a><\/p>\n

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Cracking the Code of Earnings Season: Tom Bowley<\/b><\/p>\n

Cracking the Code of Earnings Season \u2013 YouTube<\/a><\/p>\n

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FOMC Meeting On Deck + Apple\/Amazon Earnings Preview: Dan Nathan, Guy Adami, Liz Young<\/b><\/p>\n

FOMC Meeting On Deck + Apple\/Amazon Earnings Preview \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Earnings to be a key driver of equities this year: Merrill’s Marci McGregor Lauren Goodwin<\/b><\/p>\n

Earnings to be a key driver of equities this year: Merrill’s Marci McGregor \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Here’s why JPMorgan’s Michael Feroli still expects three rate cuts this year<\/b><\/p>\n

Here’s why JPMorgan’s Michael Feroli still expects three rate cuts this year \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 9.80 to 40.40. It remains Neutral.<\/p>\n

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The long term Barometer dropped 4.40 to 72.00. It remains Overbought.<\/p>\n

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

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The intermediate term Barometer dropped 3.57 to 52.23. It remains Neutral.<\/p>\n

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The long term Barometer dropped 1.34 to 66.52. It remains Overbought.<\/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 Wednesday May 1st U.S. equity index futures were lower this morning. S&P 500 futures were down 20 points at 8:30 AM EDT. Focus today is on the FOMC\u2019s announcement on the Fed Fund Rate at 2:00 PM EDT. Consensus calls for no change in the Rate at 5.25%-5.50%. Amazon added $2.16 to […]<\/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-176066","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176066","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=176066"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176066\/revisions"}],"predecessor-version":[{"id":176076,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176066\/revisions\/176076"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=176066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=176066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=176066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}