Pre-opening Comments for Tuesday May 6th 2025
U.S. equity index futures were lower this morning. S&P 500 futures were down 51 points at 8:35 AM EDT.
S&P 500 futures dropped an additional 4 points following release of the U.S. March Trade Report at 8:30 AM EDT. Consensus was a $137.6 billion deficit. Actual was a $140.5 billion deficit.
Clorox dropped $3.92 to $134.47 after weaker than consensus sales in the second quarter.
![clip_image001[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/05/clip_image0011-3.png "clip_image001[1]")
Vertex dropped $14.18 to $486.01 after reporting less than consensus first quarter profits.
![clip_image002[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/05/clip_image0021-3.png "clip_image002[1]")
Hims & Hers Health dropped $1.33 to $40.55 after lowering guidance below consensus.
![clip_image003[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/05/clip_image0031-2.png "clip_image003[1]")
Ford dropped $0.21 to $9.96 after issuing a profit warning.
![clip_image004[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/05/clip_image0041-2.png "clip_image004[1]")
EquityClock’s Market Outlook for May 6th
Domestic equity benchmarks showing reaction to a highly pivotal point at the 50-week moving average, but a couple of risk metrics will provide the cue as to whether the market will realize heightened risk-aversion during this off-season for stocks. See:
https://equityclock.com/2025/05/05/stock-market-outlook-for-may-6-2025/
Technical Notes
Emerging Markets iShares moved above intermediate resistance at $45.42. Trend changed from Down to Neutral.
India ETF $PIN moved above US$26.33 to an all-time high extending an intermediate uptrend.
South Korea iShares $EWY moved above $58.53 setting an intermediate uptrend.
Monster Beverages $MNST a NASDAQ 100 stock moved above $61.22 to an all-time high extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for May 5th 2025
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for May 5th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for May 5th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Warren Buffet’s Massive Cash Pile, Retirement & What It Signals For Investors: Guy Adami and Dan Nathan.
Warren Buffet’s Massive Cash Pile, Retirement & What It Signals For Investors – YouTube
Expect turbulent times ahead unless we see an unwinding of tariffs soon: Wharton’s Jeremy Siegel
Economist says this is when the Fed will cut rates
Economist says this is when the Fed will cut rates – YouTube
Trade war and U.S. tariffs: Carney to meet Trump on Tuesday
Trade war and U.S. tariffs: Carney to meet Trump on Tuesday – YouTube
SPX Path to All-Time Highs, Futures Technicals Offer Bullish Support
SPX Path to All-Time Highs, Futures Technicals Offer Bullish Support – YouTube
Larry Berman on BNNBloomberg
Larry Berman’s Market Outlook – BNN Bloomberg
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 2.20 to 54.20. It remains Neutral.
The long term Barometer dropped 1.20 to 42.80. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer dropped 0.92 to 58.72. It remains Neutral.
The long term Barometer added 0.46 to 54.13. It remains Neutral.
Disclaimer: Seasonality ratings 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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May 6th, 2025 at 9:45 am
End of the bear market rally? I’m not sticking my neck out looking for further upside. Looking at SPX it smells bad.
May 6th, 2025 at 10:43 am
Larry, I’m with you. EPS down across the board which reflect pre-tariff/confusion announcement. I believe the economic term is “Downgrade parade” which emits a foul and unpleasant odour. I don’t trust this market under this clown show one bit. Patience everyone.
May 7th, 2025 at 4:53 pm
Larry/ON and James/TBay,
Re your comments from yesterday. I agree with you and sold some TD and SU today. I had some nice profits. I think there will be a better opportunity and want to have some dry powder. Doing some more trading, which is not necessarily a good thing but fulfills the need to do something.