{"id":166086,"date":"2023-05-12T02:22:00","date_gmt":"2023-05-12T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=166086"},"modified":"2023-05-12T08:50:52","modified_gmt":"2023-05-12T12:50:52","slug":"tech-talk-for-friday-may-12th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/05\/12\/tech-talk-for-friday-may-12th-2023\/","title":{"rendered":"Tech Talk for Friday May 12th 2023"},"content":{"rendered":"

Pre-opening Comments for Friday May 12th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 10 points at 8:30 AM EDT.<\/em><\/p>\n

Air Canada (AC Cdn$21.01) is expected to open higher<\/b> after reporting higher than consensus first quarter revenues and earnings.<\/em><\/p>\n

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Twillo dropped $0.73 to $46.75<\/b> after Mizuho downgraded the stock from Buy to Neutral. Target was reduced from $90 to $55.<\/em><\/p>\n

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SNC Lavalin (SNC.TO $33.35) is expected to open higher<\/b> following its selection <\/em>to coordinate the refurbishing of a nuclear power plant in southern Ontario.<\/p>\n

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 <\/p>\n

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

Headline reads \u201cThe shallowest decline in initial claims through the first four months of the year since 1970 is highly indicative of a labor market that is no longer on the solid foundation that it once was<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2023\/05\/11\/stock-market-outlook-for-may-12-2023\/<\/em><\/a><\/p>\n

<\/em><\/p>\n

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

Agriculture ETF<\/b> $MOO moved below US$82.11 extending an intermediate downtrend. Responding to weakness in grain prices! Soybean ETN<\/b> $SOYB moved below $25.92 extending an intermediate downtrend. <\/p>\n

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Copart <\/b>$CPRT a NASDAQ 100 stock moved above $80.56 to an all-time high extending an intermediate uptrend. <\/p>\n

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Johnson & Johnson<\/b> $JNJ a Dow Jones Industrial Average stock moved below $159.65 setting an intermediate downtrend. The stock responded to a CNN Special Report describing the company\u2019s legal challenges related to \u201cBaby Powder\u201d. <\/p>\n

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. <\/p>\n

Base Metal equities and related ETFs<\/b> (XBM.TO, PICK) are responded to lower copper prices extending intermediate downtrends. Freeport McMorran moved below US$34.75, First Quantum Minerals dropped below Cdn$30.65. Lundin Mining fell below Cdn$10.02<\/p>\n

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Silver equities and related ETFs (SLV SIL) responded to lower silver futures prices.<\/b> SLV and PAAS moved below intermediate support. <\/p>\n

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Pressure on U.S. regional banks continues.<\/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 11th<\/sup> 2023<\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for May11th<\/sup> 2023<\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for May 11th<\/sup> 2023 <\/p>\n

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

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

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

 <\/p>\n

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

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

HUGE Breakout In Key Industry! | Tom Bowley<\/font><\/em><\/strong> | Treading Places (05.11.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=jWdL1CM_EWE<\/a><\/p>\n

 <\/p>\n

U.S. Debt Default, Recessions, And S&P 500 | Jeffrey Huge<\/font><\/em><\/strong>, CMT | Your Daily Five (05.11.23)<\/p>\n

https:\/\/www.youtube.com\/watch?v=9327srE6DW0<\/a><\/p>\n

 <\/p>\n

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

\"clip_image016\"<\/a><\/p>\n

The intermediate term Barometer dropped 2.80 to 47.20. It remains Neutral.<\/p>\n

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The long term Barometer dropped 2.40 to 48.60. It remains Neutral.<\/p>\n

 <\/p>\n

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

\"clip_image018\"<\/a><\/p>\n

The intermediate term Barometer dropped 2.59 to 51.72. It remains Neutral.<\/p>\n

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The long term Barometer slipped 0.43 to 58.62. 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 Friday May 12th U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points at 8:30 AM EDT. Air Canada (AC Cdn$21.01) is expected to open higher after reporting higher than consensus first quarter revenues and earnings. Twillo dropped $0.73 to $46.75 after Mizuho downgraded the stock from […]<\/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-166086","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/166086","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=166086"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/166086\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=166086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=166086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=166086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}