Observations U.S. equity indices (except Transports) pushed higher yesterday on a plethora of higher than expected first quarter earnings reports. Based on results released to date, consensus is that first quarter earnings by S&P 500 companies increased 23% versus 18.5% projected at the end of last week. Added to encouragement were several key stocks that reported higher than consensus first quarter results after the close last night including Amazon, Cisco and Microsoft. Amazon soared to $1613 in after-hours trade and tested its all-time high at $1617.54. Technical signs of an economic slowdown in Europe! The Euro dropped below 121.55 completing a double top pattern. StockTwits Released Yesterday @EquityClock Tech action by S&P 500 stocks to 10:15: Mixed. Breakouts: $TSCO $F $ORLY $XOM $UPS $ANTM $BAX. Breakdowns: $MGM $IVZ $UHS, $EBAY $T $RTN Editor’s Note: After 10:15 AM EDT, breakouts included: ALXN, PNW, V. PPL, PHM, DUK and ED. Breakdowns: KSU and XYL Exxon Mobil $XOM, a Dow Jones Industrial stock moved above $79.87 completing a double bottom pattern. AT&T $T, a Dow Jones Industrial stock moved below $33.96 extending an intermediate downtrend. Saputo $SAP.CA, a TSX 60 stock moved above $41.81 completing a double bottom pattern. Natural gas $NATGAS at $2.83 moved above $2.81 completing a double bottom pattern. U.S. Natural gas inventories $NATGAS continue to move lower, well below their 5 year average for this time of year. ‘Tis the season for natural gas and “gassy” stocks to move higher to mid-June! $NATGAS End of natural gas withdrawal period now confirmed to be 3 weeks past due. U.S. Exports showing strength in March, up 16% vs 14% average gain for month #Economy #TRADE #MACRO U.S. Durable Goods Orders up 3.3% in the first quarter, best start to the year since 2011. #ECONOMY #MANUFACTURING $MACRO $STUDY Platinum ETN $PPLT moved below $86.42 extending an intermediate downtrend. WestJet $WJA.CA moved below $22.19 on labour negotiations extending an intermediate downtrend. Visa $V, a Dow Jones Industrial stock moved above $126.66 to an all-time high extending an intermediate uptrend. U.S. Utility breakouts this afternoon: $DUK $ED $PHM $PNW. Trader’s Corner Daily Seasonal/Technical Equity Trends for April 26th 2018 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Commodities Trends for April 26th 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 26th 2018 Green: Increase from previous day Red: Decrease from previous day Schachter Energy Report for April Josef’s latest monthly report was released recently. His subscription service is available at www.shachterenergyreport.ca. Josef remains relatively bearish on North American equity markets and the energy sector, but bullish on natural gas prices and related equities. See Josef on BNN’s Market Call at 1:00 PM on Tuesday May 1st S&P 500 Momentum Barometer The Barometer added 1.00 to 43.00 yesterday. It remains intermediate neutral. TSX Momentum Barometer The Barometer added another 4.69 to 64.20 yesterday. It returned to intermediate overbought from intermediate neutral, but continues to move higher. 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