{"id":176280,"date":"2024-05-08T02:22:00","date_gmt":"2024-05-08T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=176280"},"modified":"2024-05-08T08:56:48","modified_gmt":"2024-05-08T12:56:48","slug":"tech-talk-for-wednesday-may-8th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/05\/08\/tech-talk-for-wednesday-may-8th-2024\/","title":{"rendered":"Tech Talk for Wednesday May 8th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday May 8th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning.<\/b> S&P 500 futures were down 19 points at 8:30 AM EDT. <\/em><\/p>\n

Electronic Arts<\/b> dropped $5.54 to $124.70 after reporting less than consensus quarterly revenues.<\/em><\/p>\n

\"clip_image001[5]\"<\/a><\/p>\n

Wynn Resorts<\/b> gained $2.79 to $100.05 after reporting higher than consensus quarterly revenues and earnings.<\/em><\/p>\n

\"clip_image002[5]\"<\/a><\/p>\n

Lyft <\/b>advanced $0.50 to $17.10 after reporting higher than consensus first quarter revenues. The company also offered positive guidance.<\/em><\/p>\n

\"clip_image003[5]\"<\/a><\/p>\n

Reddit <\/b>advanced $8.29 to $57.70 after reporting higher than consensus first quarter revenues.<\/em><\/p>\n

\"clip_image004[5]\"<\/a><\/p>\n

 <\/p>\n

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

Europe iShares<\/b> $IEV moved above $55.90 to an all-time high extending an intermediate uptrend.<\/p>\n

\"clip_image001\"<\/a><\/p>\n

Qualcomm<\/b> $QCOM a NASDAQ 100 stock moved above $183.62 to an all-time high extending an intermediate uptrend. <\/p>\n

\"clip_image002\"<\/a><\/p>\n

Coca Cola EuroPacific<\/b> $CCEP a NASDAQ 100 stock moved above $72.67 to an all-time high extending an intermediate uptrend.<\/p>\n

\"clip_image003\"<\/a><\/p>\n

Datadog<\/b> $DDOG a NASDAQ 100 stock moved below $118.40 completing a double top pattern.<\/p>\n

\"clip_image004\"<\/a><\/p>\n

Illumina <\/b>$ILMN a NASDAQ 100 stock moved below $115.73 extending an intermediate downtrend.<\/p>\n

\"clip_image005\"<\/a><\/p>\n

Royal Bank<\/b> $RY.TO a TSX 60 stock moved above Cdn$139.35 to an all-time high extending an intermediate uptrend. <\/p>\n

\"clip_image006\"<\/a><\/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 7th<\/sup> 2024<\/p>\n

\"clip_image008\"<\/a><\/p>\n

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

Red: Decrease from previous day<\/font><\/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 May7th<\/sup> 2024<\/p>\n

\"clip_image010\"<\/a><\/b><\/p>\n

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

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

 <\/p>\n

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

Daily Seasonal\/Technical Sector Trends for May 7th<\/sup> 2024<\/p>\n

\"clip_image012\"<\/a><\/p>\n

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

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

 <\/p>\n

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

The Market Breadth Indicator You Should Be Following; David Keller<\/b><\/p>\n

The Market Breadth Indicator You Should Be Following \u2013 YouTube<\/a>  <\/p>\n

 <\/p>\n

Outlook for energy amid supply concerns with Eric Nuttall<\/b><\/p>\n

Outlook for energy amid supply concerns with Eric Nuttall \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Time To Get Bullish Oil? Guy Adami, Dan Nathan and Carter Worth<\/b><\/p>\n

Time To Get Bullish Oil? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Bullish call for oil. We like TSX but continue to lean towards U.S.: strategist<\/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

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

\"clip_image013\"<\/a><\/p>\n

The intermediate term Barometer added 2.20 to 52.80. It remains Neutral.<\/p>\n

\"clip_image014\"<\/a><\/p>\n

The long term Barometer added 1.60 to 76.00. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image015\"<\/a><\/p>\n

The intermediate term Barometer dropped 5.38 to 61.61. It remains Overbought.<\/p>\n

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

The long term Barometer dropped 1.34 to 67.41. 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 Wednesday May 8th U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points at 8:30 AM EDT. Electronic Arts dropped $5.54 to $124.70 after reporting less than consensus quarterly revenues. Wynn Resorts gained $2.79 to $100.05 after reporting higher than consensus quarterly revenues and earnings. Lyft advanced […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-176280","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176280","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=176280"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176280\/revisions"}],"predecessor-version":[{"id":176290,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176280\/revisions\/176290"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=176280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=176280"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=176280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}