Technical Notes for Thursday April 22nd Danaher (DHR), an S&P 100 stock moved above $248.62 to an all-time high extending an intermediate uptrend. Visa (V), a Dow Jones Industrial Average stock moved above $228.23 to an all-time high extending an intermediate uptrend. AT&T (T), an S&P 100 stock moved above $31.81 and $30.99 resuming an intermediate uptrend. Israel iShares (EIS) moved above $67.89 to an all-time high extending an intermediate uptrend. Observation Responses to first quarter S&P 500 company reports released Wednesday and yesterday are flashing a warning sign. In most cases, sales and earnings exceeded consensus estimates. When companies reported positive “blowout” first quarter results (e.g. Mattel, Sketchers, AT&T), their stock prices responded accordingly. However, most companies that merely reported higher than consensus first quarter results saw their share price decline. Examples include Chipotle, Biogen, Blackrock, Southwest Airlines, Intel, Verizon, United Rental, Halliburton, Union Pacific and Dow. Companies that reported lower than consensus results saw their share price hit hard (e.g. Las Vegas Sands) Trader’s Corner Equity Indices and Related ETFs Daily Seasonal/Technical Equity Trends for April 22nd 2021 Green: Increase from previous day Red: Decrease from previous day Commodities Daily Seasonal/Technical Commodities Trends for April 22nd 2021 Green: Increase from previous day Red: Decrease from previous day Sectors Daily Seasonal/Technical Sector Trends for April 22nd 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 S&P 500 Momentum Barometers The intermediate Barometer slipped 3.41 to 83.77 yesterday. It remains Extremely Overbought. The long term Barometer slipped 0.20 to 96.79 yesterday. It remains Extremely Overbought. TSX Momentum Barometers The intermediate term Barometer slipped 1.50 to 73.00 yesterday. It remains Overbought. The long term Barometer fell 2.50 to 79.50 yesterday. It changed from Extremely Overbought to Overbought on a drop below 80.00. 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