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April 13, 2024 | Tech Talk for Saturday April 13th 2024

Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

U.S. equity markets were “off to a rough start” last week following initial releases of first quarter results by major companies: Notably weaker following release of quarterly results included Blackrock, Fastenal, JP Morgan, Wells Fargo and Citigroup. Weakness was recorded despite corporate reports that exceeded revenue and earnings consensus. Trigger for weakness was the March Consumer Price report released last Wednesday. CPI was “hotter” than expected, implying an extension of tight monetary policy by the Federal Reserve beyond the next FOMC meeting on June 12th.

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April 13th, 2024

Posted In: Tech Talk

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