Tech Talk for Tuesday May 28th 2019

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Pre-opening Comments for Tuesday May 28th

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.

Bank of Nova Scotia (BNS $70.57) is expected to open lower after reporting lower than consensus fiscal second quarter earnings.

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Husky Energy (HSE $12.51) is expected to open higher after raising its 2019 cash flow guidance.

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Apple (AAPL $178.97) is expected to open lower after Citigroup lowered its target price to $205 from $220.

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Amazon gained $8.76 to $1832.04 after Cowen raised its target price to $2500 from $2400.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/05/24/stock-market-outlook-for-may-28-2019/

Note study on the S&P 500 Index during the U.S. Memorial Day week and the seasonality chart on Durable Goods Orders.

 

GlobeInvestor Article by Don Vialoux

Headline reads, “Why investors should be looking down under for a seasonal trade”. Following is a link:

https://www.theglobeandmail.com/investing/markets/etfs/article-why-investors-should-be-looking-down-under-for-a-seasonal-trade/

 

StockTwit released yesterday @EquityClock

Home Capital Group $HCG.CA moved above $19.31 extending an intermediate uptrend.

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 27th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for May 27th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for May 27th 2019

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Green: Increase from previous day

Red: Decrease from previous day

 

Keith Richard’s Blog

Keith asks, “Is gold, or the gold producers ETF (XGD) a good buy right now”? Following is a link:

https://www.valuetrend.ca/ask-me-anything-2/

 

Technical Scoop

David Chapman’s Weekly Comment compliments of www.enrichedinvesting.com

http://enrichedinvesting.com/wp-content/uploads/2019/05/Not-final-top-trade-war-spook-sliding-economic-numbers-falling-bond-yields-metals-below-breakout.pdf

 

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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9 Responses to “Tech Talk for Tuesday May 28th 2019”

  1. Ana Says:

    $SPX

    Breaking the head and shoulder that I mentioned on Sunday.

  2. Ron/BC Says:

    Ana
    My partner flew to Calgary a few weeks ago to attend a funeral for a dear long time friend that was recovering from a serious illness but suddenly passed away like your friend. Her initials were D.D. I wondered if it was the same person as your friend.

  3. bruce Says:

    ana
    do you have a target?……looks like 2800 and 25200 are critical areas of support………

  4. Kam Says:

    $spx,

    EW thinks that if we don’t bounce today, there is probability that iii of 3rd wave can make it to 2700 within a day. lets see. No Micro holdings atm. This might be consistent with H&S Ana is talking above in #1.

  5. Ana Says:

    #2. Ron/BC

    Sorry, no that is not my friend. Please pass my condolences to your partner. It is very hard to lose a close friend.

    My friend lived in Edmonton. She was in a terrible vehicle accident ten years ago and therefore had a problem with opioids. She got off the opioids two years ago. She passed away in her sleep apparently from pneumonia.

  6. Ana Says:

    bruce,

    My original target is 2630 from the head and shoulders. However, there might be another head and shoulders forming below this one.

  7. Ana Says:

    This is the chart that I drew quite a while ago.

    https://invst.ly/awqho

    The top line is the top of the two shoulders, then line #2 is the bottom of the shoulders.

    Line #3 is possibly another bottom of the shoulder line.

    Line #4 is the target that also matches up with other bottoms in the chart.

  8. Ana Says:

    This is a longer view of the support lines that I drew in. Nothing is guaranteed. Go day by day.

    https://invst.ly/awqoe

  9. Ana Says:

    #4. Kam,

    To get to 2700 in one day is a bit of a stretch, in my humble opinion.
    Thank you for your thoughts on EW.
    Please continue to post! I appreciate your thoughts on the market.

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