{"id":176243,"date":"2024-05-07T02:22:00","date_gmt":"2024-05-07T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=176243"},"modified":"2024-05-07T08:58:44","modified_gmt":"2024-05-07T12:58:44","slug":"tech-talk-for-tuesday-may-7th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/05\/07\/tech-talk-for-tuesday-may-7th-2024\/","title":{"rendered":"Tech Talk for Tuesday May 7th 2024"},"content":{"rendered":"

Pre-opening Comments for Tuesday May 7th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were mixed this morning<\/b>. S&P 500 futures were unchanged in pre-opening trade.<\/em><\/p>\n

Boise Cascade<\/b> gained $3.32 to $139.37 after reporting higher than consensus first quarter revenues and earnings. <\/em><\/p>\n

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Hims & Hers<\/b> added $1.25 to $12.90 after reporting higher than consensus first quarter revenues and earnings. <\/em><\/p>\n

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Walt Disney <\/b>dropped $7.24 to $109.23 despite reporting higher than consensus fiscal second quarter earnings. <\/em><\/p>\n

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International Flavours and Fragrances <\/b>advanced $3.84 to $92.50 after reporting higher than consensus first quarter revenues and earnings. <\/em><\/p>\n

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 <\/p>\n

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

Natural gas<\/b> ETN $UNG moved above $16.08 setting an intermediate uptrend. <\/p>\n

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Water Resources<\/b> ETN $PHO moved above $66.74 to an all-time high extending an intermediate uptrend. <\/p>\n

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Soybean ETN<\/b> $SOYB moved above $25.64 completing a double bottom pattern. WEAT ETN and CORN ETN also moved strongly higher. Thinly traded Grain ETN $JJGTF (one third each in corn, soybeans and wheat) completed a double bottom on a move above $32.25<\/p>\n

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VALE<\/b> $VALE one of the world\u2019s largest base metals producer moved above $12.67 extending an intermediate uptrend. <\/p>\n

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Franco-Nevada<\/b> $FNV a TSX 60 stock moved above US$123.84 and Cdn$169.70 extending an intermediate uptrend. <\/p>\n

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CAE <\/b>$CAE.TO a TSX 60 stock moved above Cdn$28.13 completing a double bottom pattern.<\/p>\n

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George Weston<\/b> $WN.TO a TSX 60 stock moved above Cdn$188.73 to an all-time high extending 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 6th<\/sup> 2024<\/p>\n

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

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

Source for all positive seasonality ratings: <\/em>www.EquityClock.com<\/em><\/a><\/p>\n

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for May 6th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/font><\/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 6th<\/sup> 2024<\/p>\n

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

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

 <\/p>\n

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

Bullish call for oil. We like TSX but continue to lean towards U.S.: strategist: IG Wealth Management<\/b><\/p>\n

Bullish call for oil. We like TSX but continue to lean towards U.S.: strategist \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

WTF…Tom Lee Just Said The UNTHINKABLE: Sell in May and Go Away?<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=ecB11Ru0TFM<\/a><\/p>\n

 <\/p>\n

<\/b><\/p>\n

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

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The intermediate term Barometer added 7.20 to 50.60. It remains Neutral.<\/p>\n

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The long term Barometer added 1.80 to 74.40. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image017\"<\/a><\/p>\n

The intermediate term Barometer advanced 6.25 to 66.96. It remains Overbought.<\/p>\n

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The long term Barometer added 2.23 to 68.75. It remains Overbought.<\/p>\n

<\/b><\/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 7th U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Boise Cascade gained $3.32 to $139.37 after reporting higher than consensus first quarter revenues and earnings. Hims & Hers added $1.25 to $12.90 after reporting higher than consensus first quarter revenues and earnings. […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-176243","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176243","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=176243"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176243\/revisions"}],"predecessor-version":[{"id":176253,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176243\/revisions\/176253"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=176243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=176243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=176243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}