Daily Observations Carl Icahn’s note late yesterday afternoon, that he no longer held a position in Apple, triggered a quick sell off by U.S. equity indices starting with weakness in Apple. Volatilty (VIX) spiked in late trading Home builder stocks and related ETFs were particularly hard hit. ‘Tis the season to take profits in the Home Builder sector! StockTwits Released Yesterday @EquityClock Investors continue to lean toward cyclical sectors as positive seasonal tendencies near an average peak. Technicals by S&P stocks to 11:15: Bearish. Breakouts: $MJN, $RSG, $FB. Breakdowns: $HAR, $ORLY, $SBUX, $CB, $XL, $ALXN, $MYL, $AME, $FSLR, $FE. Editor’s Note: After 11:15 AM EDT, one stock broke resistance (Micron) and one stock broke support: Cardinal Health Nice breakouts by HudBay Minerals $HBM.CA and $LUN.CA to extend intermediate uptrends! Nice breakout by Micron $MU above $12.29 to complete a double bottom pattern. Trader’s Corner Editor’s Note: More short term deterioration by U.S. equity indices Daily Seasonal/Technical Equity Trends for April 28th 2016 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Commodities Trends for April 28th 2016 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Sector Trends for March April 28th 2016 Green: Increase from previous day Red: Decrease from previous day S&P 500 Momentum Barometer Deterioration by the Barometer was significant yesterday, down 6.19% to 75.80. The Barometer remains intermediate overbought and has resumed a short term downtrend. TSX Momentum Barometer The Barometer was virtually unchanged yesterday, down 0.11% to 79.22. The Barometer remains intermediate overbought and showing short term signs of rolling over Special Free Services available through www.equityclock.com Equityclock.com is offering free access to a data base showing seasonal studies on individual stocks and sectors. The data base holds seasonality studies on over 1000 big and moderate cap securities and indices. To login, simply go to http://www.equityclock.com/charts/ Following is an example: Disclaimer: Seasonality and technical ratings offered in this report by www.timingthemarket.ca and 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