{"id":165967,"date":"2023-05-09T02:22:00","date_gmt":"2023-05-09T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=165967"},"modified":"2023-05-09T08:38:47","modified_gmt":"2023-05-09T12:38:47","slug":"tech-talk-for-tuesday-may-9th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/05\/09\/tech-talk-for-tuesday-may-9th-2023\/","title":{"rendered":"Tech Talk for Tuesday May 9th 2023"},"content":{"rendered":"

Pre-opening Comments for Tuesday May 9th<\/sup> 2023<\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 13 points at 8:30 AM EDT. <\/em><\/p>\n

PayPal dropped $4.35 to $71.17<\/b> after reporting a lower than consensus first quarter profit margin.<\/em><\/p>\n

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Lucid fell $0.67 to $7.04<\/b> after lowering production guidance. <\/em><\/p>\n

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Wayfair fell $2.75 to $37.22<\/b> after announcing a convertible bond offering.<\/em><\/p>\n

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New York Times gained $0.75 to $40.65<\/b> after announcing a $100 million distribution deal with Google for the next three years.<\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n

Headline reads \u201cA short-term head-and-shoulders top on the chart of Bitcoin presents a near-term risk to broader investor sentiment\u201d.<\/strong><\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/05\/08\/stock-market-outlook-for-may-9-2023\/<\/em><\/a><\/p>\n

 <\/p>\n

Technical Notes<\/strong><\/font><\/p>\n

Chile iShares $ECH moved above $30.14 to a two year high extending an intermediate uptrend. Units are responding to higher copper price and political interference with the mining industry in Peru. Lundin Mining $LUN.TO a copper producer moved above $11.11 extending an intermediate uptrend.<\/p>\n

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Global X Uranium ETF $URA moved above $20.33 setting an intermediate uptrend. <\/p>\n

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 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for May 8th<\/sup> 2023<\/p>\n

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Green: Increase from previous day<\/p>\n

Red: Decrease from previous day<\/p>\n

 <\/p>\n

Commodities<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Commodities Trends for May 8th<\/sup> 2023<\/p>\n

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Green: Increase from previous day<\/p>\n

Red: Decrease from previous day<\/p>\n

 <\/p>\n

Sectors<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Sector Trends for May 8th<\/sup> 2023 <\/p>\n

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Green: Increase from previous day<\/p>\n

Red: Decrease from previous day<\/p>\n

Source for positive seasonal ratings: www.equityclock.com<\/a><\/p>\n

 <\/p>\n

Links offered by valued providers<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

Market Coiling For Next Big Move | John Kosar<\/font><\/em><\/strong>, CMT | Your Daily Five | 05.08.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=wc5EWKLIeaI<\/a><\/p>\n

 <\/p>\n

Do Stocks Have Bad Breadth? | Bruce Fraser<\/font><\/em><\/strong> | Power Charting (05.05.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=LY7WAboAxdY<\/a><\/p>\n

 <\/p>\n

Sprott <\/font><\/em><\/strong>April uranium report<\/p>\n

https:\/\/sprott.com\/insights\/sprott-uranium-report-uranium-s-april-breakthrough\/?utm_source=insights&utm_medium=email&utm_campaign=sprott-uranium-report-uranium-s-april-<\/a><\/p>\n

 <\/p>\n

Technical Chart of the Day<\/strong><\/font><\/p>\n

Technical score for TSX Base Metals iShares (XBM.TO) changed from -6 to 0<\/p>\n

\u00b7 Intermediate trend remains down: Score:-2<\/p>\n

\u00b7 Strength relative to S&P changed from negative to neutral. Score changed from -2 to 0<\/p>\n

\u00b7 Price moved above its 20 day moving average. Score changed from -1 to +1<\/p>\n

\u00b7 Daily momentum indicators (Stochastics, RSI, MACD) changed from down to up. Score changed from -1 to +1<\/p>\n

\u00b7 Score moved from -6 to (-2+0+1+1) = 0<\/p>\n

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 <\/p>\n

S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n

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The intermediate term Barometer added 1.00 to 53.80. It remains Neutral.<\/p>\n

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The long term Barometer added 0.80 to 52.80. It remains Neutral.<\/p>\n

 <\/p>\n

TSX Momentum Barometers<\/strong><\/font><\/p>\n

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The intermediate term Barometer added 2.59 to 58.19. It remains Neutral.<\/p>\n

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The long term Barometer slipped 0.86 to 56.90. It remains Neutral.<\/p>\n

 <\/p>\n

Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/em><\/a> 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<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Tuesday May 9th 2023 U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points at 8:30 AM EDT. PayPal dropped $4.35 to $71.17 after reporting a lower than consensus first quarter profit margin. Lucid fell $0.67 to $7.04 after lowering production guidance. Wayfair fell $2.75 to $37.22 […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-165967","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/165967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/comments?post=165967"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/165967\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=165967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=165967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=165967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}