Tech Talk for Tuesday April 25th 2023

U.S. equity index futures were lower this morning. S&P 500 futures were down 17 pointsat 8:30 AM EDT..

First Republic Bank dropped $1.12 to $14.82 despite reporting higher than consensus first quarter earnings. The Bank also announced a 41% drop in deposits as well as plans to reduce its work force by 20%-25%.

Whirlpool advanced $4.79 to $145.49 after reporting higher than consensus first quarter earnings.

Canadian National Railway (CNR.TO Cdn$168.27) is expected to open higher after reporting higher than consensus first quarter revenues and earnings. The company also offered positive second quarter guidance.

Raytheon Technologies added $0.28 to $102.74 after raising its quarterly dividend by 7.3% to $0.59 per share.

United Parcel Services dropped $9.10 to $186.75 after reporting less than consensus first quarter results. The company also lowered guidance.

McDonalds gained $2.50 to $295.70 after reporting higher than consensus first quarter results.

EquityClock's Daily Comment

Headline reads "As the US Dollar Index nears a pivotal point on the chart, scrutiny of its direction is vitally important to gauge the direction of stocks moving forward".

http://www.equityclock.com/2023/04/24/stock-market-outlook-for-april-25-2023/

Technical Notes

Coca Cola $KO an S&P 100 stock moved above $64.21 after reporting higher than consensus first quarter results extending an intermediate uptrend.

Medtronic $MDT an S&P 100 stock moved above $87.10 an $87.21 extending an intermediate uptrend.

Zoom $ZM a NASDAQ 100 stock moved below $63.55 extending an intermediate downtrend.

Fox $FOX an S&P 100 stock moved below $29.58 extending an intermediate downtrend. Fox announced that Tucker Carlson is leaving the network.

Corn ETN $CORN moved below $24.25 extending an intermediate downtrend.

Wheat ETN $WEAT moved below $6.66 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 24th 2023

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 24st 2023

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 24th 2023

Green: Increase from previous day

Red: Decrease from previous day

Source for positive seasonal ratings: www.equityclock.com

Links offered by a valued providers

Are Markets Ready to Topple? | Erin Swenlin | Your Daily Five (04.24.23)

Are Markets Ready to Topple? | Erin Swenlin | Your Daily Five (04.24.23) - YouTube

Microsoft, Alphabet and Meta will be the stocks to help S&P break above 4,200, says Joe Terranova

Microsoft, Alphabet and Meta will be the stocks to help S&P break above 4,200, says Joe Terranova - YouTube

Technical Chart of the Day

Technical score for Lumber dropped from -2+0+1-1= -2 to -2-2-1-1=–6

Strength relative to the S&P 500 Index changed from Neutral to Negative (i.e. Score of 0 to -2) Price moved below its 20 day moving average (i.e. Score of +1 to-1).

S&P 500 Momentum Barometers

The intermediate term Barometer added 3.60 to 60.40. It changed from Neutral to Overbought on a move above 60.00.

The long term Barometer added 0.20 to 59.60. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer added 0.86 to 66.38. It remains Overbought. Daily trend remains up.

The long term Barometer slipped 0.86 to 63.79. It remains Overbought. Daily trend has changed to down.

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