<\/font><\/em><\/strong><\/p>\n Pre-opening Comments for Friday May 26th<\/sup><\/strong><\/font><\/em><\/p>\n Editor\u2019s Note:<\/b> Next Tech Talk report is released on Tuesday May 30th<\/sup>. Monday is a U.S. holiday and trading activity on the TSX is minimal.<\/em><\/p>\n U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 2 points at 8:35 AM EDT.<\/em><\/p>\n Lots of economic news released at 8:30 AM EDT! <\/b>Index futures dropped 6 points on the news.<\/em><\/p>\n <\/em><\/b><\/p>\n April Durable Goods Orders<\/b> were expected to drop 1.1% versus a gain of 2.8% in March. Actual was a gain of 1.1%. Excluding Transportation Orders, April Durable Goods Orders was expected to increase 0.3% versus a gain of 0.3% in March. Actual was an increase of 0.2%<\/em><\/p>\n April Core PCE Price Index<\/b> was expected to increase 0.3% versus a gain of 0.3% in March. Actual was an increase of 0.3%.On a year-over-year basis, core PCE Price Index is expected to increase 4.6% versus a gain of 4.6% in March. Actual was an increase of 4.7%<\/em><\/p>\n April Personal Income<\/b> was expected to increase 0.4% versus a gain of 0.3% in<\/em> March. Actual was an increase of 0.4%. April Personal Spending was expected to increase 0.5% versus unchanged in March. Actual was an increase of 0.8%<\/em><\/p>\n Costco dropped $10.55 to $479.02<\/b> after reporting less than consensus fiscal third quarter revenues and earnings.<\/em><\/p>\n Marvell advanced $6.73 to $56.28<\/b> after reporting higher than consensus first quarter results. The company also raised guidance. <\/em><\/p>\n Gap Stores advanced $1.06 to $8.48<\/b> after reporting a big improvement in profit margins.<\/em><\/p>\n Workday advanced $15.59 to $212.00<\/b> after reporting greater than consensus first quarter results.<\/em><\/p>\n Canadian Western Bank $CWB.TO is expected to open lower<\/b> after reporting less than consensus fiscal second quarter earnings. <\/em><\/p>\n <\/p>\n EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n Headline reads \u201cDespite substantial downward revisions to prior week\u2019s data, the year-to-date change of jobless claims is still running at the highest pace since the years surrounding the Great Financial Crisis<\/strong>\u201d.<\/em><\/p>\n http:\/\/www.equityclock.com\/2023\/05\/25\/stock-market-outlook-for-may-26-2023\/<\/em><\/a><\/p>\n <\/p>\n <\/em><\/strong><\/p>\n Technical Notes<\/strong><\/font><\/p>\n U.S. Aerospace iShares $ITA moved below $109.19 completing a double top pattern.<\/p>\n Travelers $TRV a Dow Jones Industrial Average stock moved below intermediate support at $175.82.<\/p>\n NASDAQ 100 stocks moving below intermediate support: Dollar Tree $DLTR moved below $133.38. Gilead $GILD moved below $$76.53. T Mobile $TMUS moved below $136.26 Illumina moved below $190.26.<\/p>\n S&P 100 stocks moving below intermediate support included Bristol-Myers Squibb, General Dynamics, Intel, Raytheon Technologies, Comcast, Emerson Electric, Simon Property and Verizon.<\/p>\n Canadian Bank stocks and related ETFs moved lower following release of lower than consensus fiscal second quarter results. Bank of Montreal $BMO.TO moved below Cdn$112.14 extending an intermediate downtrend.<\/p>\n Dollarama $DOL.TO a TSX 60 stock moved below $81.91 completing a double top pattern.<\/p>\n <\/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 25th<\/sup> 2023<\/p>\n Green: Increase from previous day<\/em><\/p>\n Red: Decrease from previous day<\/em><\/p>\n <\/p>\n Commodities<\/strong><\/font><\/p>\n Daily Seasonal\/Technical Commodities Trends for May 25th<\/sup> 2023<\/p>\n 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 25th<\/sup> 2023 <\/p>\n 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 The Pitch | Mark Newton<\/font><\/em><\/strong>, CMT, Joe Rabil<\/font><\/em><\/strong>, Dave Landry<\/font><\/em><\/strong>, Dave Keller<\/font><\/em><\/strong>, CMT (05.25.23)<\/p>\n https:\/\/www.youtube.com\/watch?v=Xyo8XTBpQvk<\/a><\/p>\n <\/p>\n NASDAQ Topping … IMMINENT COLLAPSE Ahead! | Jeffrey Huge<\/em><\/strong><\/font>, CMT | Your Daily Five (05.25.23)<\/p>\n https:\/\/www.youtube.com\/watch?v=tFBn7VymaBA<\/a><\/p>\n <\/p>\n Selling Is Smoke & Mirrors | Tom Bowley<\/font><\/em><\/strong> | Trading Places (05.25.23)<\/p>\n https:\/\/www.youtube.com\/watch?v=HaFjpp0b0TA<\/a><\/p>\n <\/p>\n S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n The intermediate term Barometer slipped 1.20 to 32.00. It remains Oversold, Daily trend is down.<\/p>\n The long term Barometer dropped 1.80 to 41.20. It remains Neutral. Daily trend is down. <\/p>\n <\/p>\n TSX Momentum Barometers<\/strong><\/font><\/p>\n The intermediate term Barometer dropped 6.03 to 34.05. It changed from Neutral to Oversold on a move below 40.00. Daily trend continues down.<\/p>\n![\"clip_image001[1]\"](\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2023\/05\/clip_image0011-11.png\" "\\"clip_image001[1]\\"")
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