Tech Talk for Thursday April 13th 2023
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points at 8:35 AM EDT.
Index futures moved higher following release of the March Producer Price Index at 8:30 AM EDT. Consensus was an increase 0.1% versus a decline of 0.1% in February. Actual was a drop of 0.5%. On a year-over-year basis, Consensus was an increase 3.1% versus 4.9% in February. Actual was an increase of 2.7%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.2% in February. Actual was a decline of 0.1%. On a year-over-year basis, consensus was an increase 3.8% versus a gain of 4.5% in February. Actual was a gain of 3.6%.
Harley Davidson dropped $1.11 to $36.25 after the company's Chief Operating Officer exited the company to take a similar position at Hasbro.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/04/clip_image0011-5.png "clip_image001[1]")
Merck added $1.34 to $115.09 after Citigroup upgraded the stock from Neutral to Buy.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/04/clip_image0021-5.png "clip_image002[1]")
Alibaba $BABA added $1.04 to $94.88 on a report that SoftBank sold most of its stake in the company.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/04/clip_image0031-5.png "clip_image003[1]")
Delta Airlines added $1.46 to $$35.20 after reporting higher than consensus first quarter revenues. The company also offered positive guidance.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/04/clip_image0041-2.png "clip_image004[1]")
EquityClock's Daily Comment
Headline reads "Shelter prices continue to rise at a record setting pace, keeping core inflationary pressures elevated, despite the Fed's best efforts to cool this cost of living".
http://www.equityclock.com/2023/04/12/stock-market-outlook-for-april-13-2023/
Technical Notes
Gasoline ETN $UGA moved above $65.21 extending an intermediate uptrend.
WTI Crude Oil moved above $80.94 and $82.66 setting an intermediate uptrend.
EAFA iShares $EFA moved above $72.44 extending an intermediate uptrend.
United Kingdom iShares $EWU moved above $33.18 extending an intermediate uptrend.
Vertex Pharma $VRTX a NASDAQ 100 stock moved above $325.19 to an all-time high extending an intermediate uptrend.
Match $MTCH a NASDAQ 100 stock moved below $34.62 extending an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for April 12th 2023
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for April 12th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for April 12th 2023
Green: Increase from previous day
Red: Decrease from previous day
Source for positive seasonal ratings: www.equityclock.com
Links offered by valued providers
Go Away In May? No Way! | Tom Bowley | Your Daily Five (04.12.23)
Go Away In May? No Way! | Tom Bowley | Your Daily Five (04.12.23) - YouTube
Last Gasp Or First Surge? | Greg Schnell, CMT | Market Buzz (04.12.23)
Last Gasp Or First Surge? | Greg Schnell, CMT | Market Buzz (04.12.23) - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 3.00 to 49.80. It remains Neutral.
The long term Barometer dropped 2.20 to 59.80. It changed from Overbought to Neutral on a drop below 60.00.
TSX Momentum Barometers
The intermediate term Barometer was unchanged at 57.08. It remains Neutral.
The long term Barometer slipped 0.80 to 66.95. 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
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