Pre-opening Comments for Friday May 8^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 49 points at 8:35 AM EST

S&P 500 futures added 13 points following release of the April U.S. employment report at 8:30 AM EST. April U.S. Non-farm Payrolls were expected to drop to a 55,000 increase from a 178,000 increase in March. Actual was a 115,000 increase. April Unemployment Rate was expected to remain unchanged from March at 4.3%. Actual was unchanged. April Average Hourly Wages were expected to increase 0.3% versus a 0.2% increase in March. Actual was a 0.2% increase. On a year-over-year basis, April Average Hourly Wages were expected to increase 3.8% versus a 3.5% increase in March. Actual was a 3.6% increase.

The Canadian Dollar slipped 0.10 to US73.12 cents following release of Canada’s April Employment report at 8:30 AM EST. Consensus called for no change from March. Actual was a 17,700 drop. April Unemployment rate slipped to 6.9%.

Trade Desk (TTD) dropped $3.01 to $20.48 after reporting less than consensus first quarter earnings. The company also issued cautious guidance.

Block (XYZ) added $5.58 to $75.72 after reporting higher than consensus first quarter earnings

Cloudflare (NET) dropped $36.52 to $220.27 after issuing second quarter guidance below consensus.

EquityClock’s Market Outlook for May 8^th

Emerging leadership presenting new opportunities heading into the off-season for risk assets. See:

https://equityclock.com/2026/05/07/stock-market-outlook-for-may-8-2026/

Time to pick stocks very carefully: Mark Leibovit

Time to Pick Stocks Very Carefully – HoweStreet

Technical Notes

Global Base Metals iShares (PICK) moved above US$64.94 to an all-time high extending an intermediate uptrend.

Solar ETF (TAN) moved above $61.03 extending an intermediate uptrend.

Software iShares (IGV) moved above $89.04 setting an intermediate uptrend.

S&P 100 and NASDAQ 100 stocks moving above resistance and extending intermediate uptrends included Apple (AAPL) on a moved above $288.35 to an all-time high, Qualcomm (QCOM) on a move above $221.91 to an all-time high, Tesla (TSLA) on a move above $409.28,

Zscaler (ZS) on a move above $144.71 completing a reverse Head & Shoulders pattern,

MongoDB (MDB) on a move above $278.69 and Kraft Heinz (KHC) on a move above $23.62 completing a double bottom pattern.

Bristol-Myers (BMY) an S&P 100 stock moved below $55.87 completing a double top pattern.

Nutrien (NTR.TO) a TSX 60 stock moved below Cdn$94.78 extending an intermediate downtrend. The company reported less than consensus quarterly results.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for May 7^th 2026

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 7^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 7^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

ALL-TIME HIGHS! Why Stocks Are Skyrocketing While the Consumer Collapses?

Verified Investor

ALL-TIME HIGHS! Why Stocks Are Skyrocketing While the Consumer Collapses? – YouTube

Sell in May? History Says You’ll Miss a 16% Rally – What To Do Now: Sam Stoval

Sell in May? History Says You’ll Miss a 16% Rally – What To Do Now – YouTube

The K-shaped gap widens: Here’s what to know Steve Leisman

The K-shaped gap widens: Here’s what to know – YouTube

When the Market Shoots First, Who Asks the Questions? | AI in 2026 with Jed Ellerbroek

When the Market Shoots First, Who Asks the Questions? | AI in 2026 with Jed Ellerbroek – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 2.80 to 52.60. It remains Neutral.

The short term (20 days) Barometer plunged 8.00 to 43.80. It remains Neutral. Daily downtrend was extended.

The long term Barometer dropped 1.20 to 56.60. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer slipped 0.45 to 55.91. It remains Neutral.

The short term (20 days) Barometer added 1.82 to 60.45. It returned to Overbought from Neutral on a move above 60.00.

The long term Barometer added 1.36 to 75.91. It remains Overbought.

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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