Tech Talk for Friday April 19th 2024

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM EDT.

Netflix dropped $22.56 to $588.00 despite reporting a higher than consensus increase in subscribers. Also, first quarter revenues and earnings beat consensus.

KB Homes gained $1.59 to $62.00 after the company lifted its dividend by 25% and authorized a $1 Billon share buyback program.

PPG Industries dropped $0.57 to $134.54 after reporting less than consensus first quarter revenues. The company also announced a $2.5 billion share buyback program.

Procter & Gamble dropped $1.39 to $155.50 after reporting less than consensus first quarter revenues.

Technical Notes

Technology SPDRs $XLK moved below $196.74 extending an intermediate downtrend.

Lam Research $LRCX a NASDAQ 100 stock moved below $905.60 completing a double top pattern.

QualComm $QCOM an S&P 100 stock moved below $163.63 completing a double top pattern.

Thermo Fisher $TMO an S&P 100 stock moved below intermediate support at $534.06

Intuitive Surgical $ISRG a NASDAQ 100 stock moved below $371.00 extending an intermediate downtrend.

Monster Beverages $MNST a NASDAQ 100 stock moved below $53.54 extending an intermediate downtrend.

Cadence Design Systems $CDNS a NASDAQ 100 stock moved below$284.79 extending an intermediate downtrend

Take Two Interactive $TTWO a NASDAQ 100 stock moved below $141.45 extending an intermediate downtrend.

UnitedHealth Group $UNH a Dow Jones Industrial Average stock moved above intermediate resistance at $496.20.

Wells Fargo $WFC an S&P 100 stock moved above $58.44 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 18th 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for April 18th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 18th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Semiconductors Are at CRITICAL Level! David Keller

Semiconductors Are at CRITICAL Level! - YouTube

Warning Signs of Worsening Market Conditions: Dave Landry

Warning Signs of Worsening Market Conditions - YouTube

Morgan Stanley analyst weighs in on AI stocks to watch: Stephen Burd

Morgan Stanley analyst weighs in on AI stocks to watch - YouTube

This is Just the Beginning of the CRASH: Jeff Huge

This is Just the Beginning of the CRASH - YouTube

Bostic Says Fed Likely Won’t Cut Rates Until End of Year

Bostic Says Fed Likely Won’t Cut Rates Until End of Year - YouTube

Cracks Appearing in the Markets Foundation: Tom Bowley

Cracks Appearing in the Markets Foundation - YouTube

MoneyTalk – Federal Budget 2024: The highlights and the economic implications

MoneyTalk – Federal Budget 2024: The highlights and the economic implications - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 0.80 to 30.80. It remains Overbought.

The long term Barometer was unchanged at 69.00. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 0.89 to 50.45. It remains Neutral.

The long term Barometer added 1.34 to 64.73. It remains Overbought.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com 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