{"id":176317,"date":"2024-05-09T02:22:00","date_gmt":"2024-05-09T06:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=176317"},"modified":"2024-05-09T08:48:53","modified_gmt":"2024-05-09T12:48:53","slug":"tech-talk-for-thursday-may-9th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/05\/09\/tech-talk-for-thursday-may-9th-2024\/","title":{"rendered":"Tech Talk for Thursday May 9th 2024"},"content":{"rendered":"

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

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

Bank of England<\/b> decided to maintain its current rate of interest to borrowers.<\/em><\/p>\n

Robinhood Markets<\/b> advanced $0.80 to $18.65 after reporting higher than consensus first quarter revenues and earnings. <\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

Air BNB<\/b> dropped $12.40 to $145.50 after lower revenue guidance<\/em><\/p>\n

\"clip_image002[1]\"<\/a><\/p>\n

ARM Holdings<\/b> fell $7.77 to $98.30 after offering guidance below consensus. <\/em><\/p>\n

\"clip_image003[1]\"<\/a><\/p>\n

Trade Desk<\/b> added $1.46 to $87.48 after reporting higher than consensus first quarter earnings.<\/em><\/p>\n

\"clip_image004[1]\"<\/a><\/p>\n

 <\/p>\n

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

Utilities SPDRs<\/b> XLU moved above $70.25 to a 15 month high extending an intermediate uptrend.<\/p>\n

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

Texas Instruments<\/b> $TXN an S&P 100 stock moved above $182.35 to a 30 month high extending an intermediate uptrend. <\/p>\n

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

Match Group<\/b> $MTCH a NASDAQ 100 stock moved below $27.85 to a six year low extending an intermediate downtrend. <\/p>\n

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

Electronic Arts<\/b> $EA a NASDAQ 100 stock moved below $125.11 extending an intermediate downtrend.<\/p>\n

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

Shopify<\/b> $SHOP.TO a TSX 60 stock moved below Cdn$93.85 completing a Head & Shoulders pattern. Responding to a less than consensus outlook. Weakness triggered a move by TSX Technology Index (XIT.TO) below $51.10 extending an intermediate downtrend. <\/p>\n

\"clip_image005\"<\/a><\/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 8th<\/sup> 2024<\/p>\n

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

Green: Increase from previous day<\/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 May8th<\/sup> 2024<\/p>\n

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

Green: Increase from previous day<\/b><\/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 8th<\/sup> 2024<\/p>\n

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

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

Bear Flag Forming in S&P 500? David Keller<\/b><\/p>\n

Bear Flag Forming in S&P 500? \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Is This The Next Leg of the Bull Market?! Tom Bowley<\/b><\/p>\n

Is This The Next Leg of the Bull Market?! \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

What Rising Volatility Means to the Current Market: Joe Rabil<\/b><\/p>\n

What Rising Volatility Means to the Current Market \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 dropped 1.60 to 51.20. It remains Neutral.<\/p>\n

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

The long term Barometer slipped 0.60 to 75.40. It remains Overbought.<\/p>\n

 <\/p>\n

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

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

The intermediate term Barometer added 3.42 to 65.02. It remains Overbought.<\/p>\n

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

The long term Barometer added 2.99 to 70.40. 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 Thursday May 9th U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points at 8:30 AM EDT. Bank of England decided to maintain its current rate of interest to borrowers. Robinhood Markets advanced $0.80 to $18.65 after reporting higher than consensus first quarter revenues and earnings. Air […]<\/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-176317","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176317","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=176317"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176317\/revisions"}],"predecessor-version":[{"id":176327,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/176317\/revisions\/176327"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=176317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=176317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=176317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}