Technical Notes
North American equity indices moved higher on news that at least a temporary resolution on tariffs between the U.S. and China has been reached. Intermediate resistance levels were breached by North American equity indices: The S&P 500 Index moved above 5,786.95. The NASDAQ Composite Index moved above 18,281.13. The Russell 2000 ETF moved above $209.27. The TSX Composite Index moved above 25,454.86.
Note that the S&P 500 Index and NASDAQ Composite moved above their 200 day moving average, an encouraging longer term technical sign. Also, the Dow Jones Industrial Average moved above its 200 day moving average at 42,249.19.
Notable sectors and their related ETFs responding to the news included Energy SPDRs (XLE) on a move above $82.75, Consumer Discretionary SPDRs (XLY) on a move above $206.43 and Technology SPDRs (XLK) on a move above 218.64. In Canada, Global Base Metals iShares (XBM.TO) moved above Cdn$18.52.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for May 12th 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 12th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for May 12th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Expectations for interest rates and BoC cuts
Expectations for interest rates and BoC cuts – YouTube
AAPL iPhone Price Hike, COIN Upgrade, TGT Downgrade
AAPL iPhone Price Hike, COIN Upgrade, TGT Downgrade – YouTube
Morgan Stanley’s Mike Wilson: Our 6,500 S&P 500 year-end target is very much intact
Morgan Stanley’s Mike Wilson: Our 6,500 S&P 500 year-end target is very much intact – YouTube
Jamie Murray’s top stock picks: Hudbay, Dental Corp & Whitecap
Jamie Murray’s top stock picks: Hudbay, Dental Corp & Whitecap – YouTube
US and China agree to 90-day trade war truce, lower tariff rates: Trump
US and China agree to 90-day trade war truce, lower tariff rates: Trump – YouTube
Next Canadian Association for Technical Analysis Meeting
Next meeting is held tonight on Zoom at 8:00 PM EDT. Presenter is Harry Vas. Everyone is welcome. Not a member of CATA? Contact Home – Canadian Association for Technical Analysis (canadianata.ca)
S&P 500 Momentum Barometers
The intermediate term Barometer advanced 10.20 to 72.40. It remains Overbought. Daily uptrend was extended.
The long term Barometer advanced 9.20 to 53.00. It remains Neutral. Daily uptrend was extended.
TSX Momentum Barometers
The intermediate term Barometer added 2.75 to 77.52. It remains Overbought. Daily uptrend was extended.
The long term Barometer added 2.75 to 63.76. It remains Overbought. Daily uptrend was extended.
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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Equity Clock Publications