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Tech Talk for Thursday April 29th 2021

 

Responses to the FOMC announcement at 2:00 PM EDT yesterday

The Fed Fund Rate was maintained at 0.00%-0.25%. Responses by markets were muted:

The S&P 500 Index initially moved slightly higher, but closed virtually unchanged.

The U.S. Dollar ETN moved lower.

Long term Treasury bond prices moved slightly higher.

Gold prices moved higher

Other than gold, Commodity prices were virtually unchanged

U.S. financial stocks and related ETFs moved slightly higher.

 

Technical Notes for Wednesday April 28th

Mondelez (MDLZ), an S&P 100 stock moved above $59.98 to an all-time high extending an intermediate uptrend. The stock responded to higher than consensus quarterly results.

Eli Lilly (LLY), an S&P 100 stock moved below $179.82 extending an intermediate downtrend.

American Express (AXP), a Dow Jones Industrial Average stock moved above $151.01 to an all-time high extending an intermediate uptrend.

Imperial Oil (IMO), a TSX 60 stock moved above $32.67 extending an intermediate uptrend.

Enbridge (ENB), a TSX 60 stock moved above $49.96 extending an intermediate uptrend.

Shopify (SHOP), a TSX 60 stock moved above $1,569.31 resuming an intermediate uptrend.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 28th 2021

Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for April 28th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 28th 2021

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index

 

Comment by Greg Schnell

Greg says,”Everyone Needs to Get Paid” Greg focuses on Visa, MasterCard, Square and PayPal. Following is a link:

Everyone Needs To Get Paid – GREG SCHNELL

 

S&P 500 Momentum Barometer

The intermediate term Barometer was unchanged yesterday at 88.58. It remains Extremely Overbought.

The long term Barometer slipped 0.80 to 94.59 yesterday. It remains Extremely Overbought.

 

TSX Momentum Barometer

The intermediate term Barometer added 3.78 to 76.00 yesterday. It remains Overbought.

The long term Barometer added 0.69 to 82.00 yesterday. It remains Extremely Overbought.

 

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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