Tech Talk for Wednesday April 11th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 21 points in pre-opening trade.

U.S. index futures were virtually unchanged following release of the March Consumer Price report. Consensus was unchanged versus a gain of 0.2% in February. Actual was a drop of 0.1%. Excluding food and energy March Consumer Prices were expected to increase 0.2% versus a gain of 0.2% in February. Actual was an increase of 0.2%.

EBay added $0.15 to $39.74 after KeyBanc Capitial upgraded the stock to Overweight from Sector Weight.

Harley Davidson dropped $0.13 to $42.25 after Wedbush cut its target price to $44 from $49.

Fastenal dropped $1.78 to $52.64 after reporting lower than consensus first quarter revenues.

Carnival Cruise gained $0.22 to $63.32 after announcing an 11% increase in its dividend. The company also renewed a share buyback program valued at $1 billion.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/04/10/stock-market-outlook-for-april-11-2018/

Note seasonality charts on the Energy sector, Wholesale Sales, Wholesale Inventories and Producer Prices.

New Seasonal Chart Database Members Section

Following is a link:

http://www.equityclock.com/2018/04/10/new-seasonal-chart-database-members-section/

Observations

Weakness in the U.S. Dollar Index (and its related ETF) prompted a strong gain in commodity prices (and their related ETF)

Among commodities, base metal prices are soaring, led by aluminum

Ditto for base metal stocks and related ETFs: ZMT.CA and PICK!

StockTwits Released Yesterday @EquityClock

Tech action by S&P 500 stocks to 11:00: Bullish. Breakouts: $F $CVX $NFX $OXY $RIG $LUK $HSIC $NTAP $STX $VRSK $GM $BF.B $HAL $DVN $VZ. No breakdowns.

Energy SPDRs $XLE moved above $69.41 completing a double bottom pattern. Individual energy stock breakouts: $C\VX $NFX $OXY $RIG

United Kingdom iShares $EWU moved above $35.85 completing a double bottom pattern.

Canadian energy stocks also moving higher (e.g. $FRU.CA).

Cott Corp $BCB.CA moved below $$18.37 extending an intermediate downtrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for April 10th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for April 10th 2018

Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

Daily Seasonal/Technical Sector Trends for April 10th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer jumped 11.80 to 41.00% yesterday. It moved from intermediate oversold to intermediate neutral and is trending up.

TSX Momentum Barometer

The Barometer gained 1.87 to 46.50 yesterday. It remains intermediate neutral and trending up.

Disclaimer: Seasonality 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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