Tech Talk for Wednesday May 20th 2020

Daily Reports Add comments

Pre-opening Comments for Wednesday May 20th

U.S. equity index futures were higher this morning. S&P 500 futures were up 36 points in pre-opening trade.

The Canadian Dollar was virtually unchanged at US 72.00 cents following release of the April Canadian Consumer Price Index at 8:30 AM EDT. Consensus was a drop of 0.6% versus a decline of 0.6% in March. Actual was a drop of 0.7%..

Lowe’s gained $6.80 to $123.67 after reporting higher than consensus first quarter sales and earnings.

clip_image001[1]

McKesson dropped $5.63 to $139.00 after lowering guidance for the fiscal first quarter.

clip_image002[1]

Target added $0.88 to $124.05 after reporting higher than consensus first quarter earnings.

clip_image003[1]

Walmart advanced $1.19 to $126.14 after target price on the stock was raised by JP Morgan and Credit Suisse.

clip_image004[1]

 

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/05/19/stock-market-outlook-for-may-20-2020/

Note seasonality chart on U.S. Housing Starts

 

Technical Notes

Editor’s Note: Lots of breakouts above 15 day trading ranges

South Africa iShares (EZA) moved above $33.18 extending an intermediate uptrend.

clip_image001

Frontier iShares (FM) moved above $23.24 extending an intermediate uptrend.

clip_image002

Crude Oil ETN (ZEO) moved above $28.92 extending an intermediate uptrend.

clip_image003

Semiconductor iShares (SOXX) moved above $244.63 setting an intermediate uptrend.

clip_image004

Metals and Mining iShares (XME) advanced above $20.40 extending an intermediate uptrend.

clip_image005

Base Metals iShares moved (XBM) above $8.78 Cdn. extending an intermediate uptrend.

clip_image006

Coal ETF (KOL) moved above $68.60 setting an intermediate uptrend.

clip_image007

NetApp (NTAP), a NASDAQ 100 stock moved above $45.14 extending an intermediate uptrend.

clip_image008

Amazon (AMZN), a NASDAQ 100 stock moved above $2475.00 to an all-time high extending an intermediate uptrend.

clip_image009

KLA Tencor (KLAC), a NASDAQ 100 stock moved above $176.32 setting an intermediate uptrend.

clip_image010

Inter Pipeline (IPL), a TSX 60 stock moved above $12.28 Cdn. extending an intermediate uptrend.

clip_image011

Abbott Labs (ABT), an S&P 100 stock moved below $88.71 setting an intermediate downtrend.

clip_image012

Marijuana ETF (HMMJ) moved above $6.96 completing a base building pattern.

clip_image013

 

Trader’s Corner

 

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 19th 2020

clip_image015

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for May 19th 2020

clip_image017

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for May 19th 2020

clip_image019

Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Barometer

clip_image001[1]

The Barometer dropped 6.81 to 76.15 yesterday. It remains intermediate overbought and showing early signs of a short term peak.

TSX Barometer

clip_image002[1]

The Barometer added 12.95 to 75.45 yesterday. It remains intermediate 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

Sponsored By...



2 Responses to “Tech Talk for Wednesday May 20th 2020”

  1. Larry/ON Says:

    Top Five Companies By Revenue Over Past Three Years – AMZN Jumped From 5th To 2nd In One Year – WMT is a Giant

    https://www.fool.com/investing/2020/05/20/amazon-leapfrogs-apple-in-fortune-500.aspx

  2. Larry/ON Says:

    SPX and AMZN 3,000 or Bust.

Entries RSS Comments RSS Log in