{"id":194732,"date":"2026-05-03T15:36:58","date_gmt":"2026-05-03T19:36:58","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=194732"},"modified":"2026-05-03T15:36:58","modified_gmt":"2026-05-03T19:36:58","slug":"tech-talk-for-monday-may-4th-2026","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2026\/05\/03\/tech-talk-for-monday-may-4th-2026\/","title":{"rendered":"Tech Talk for Monday May 4th 2026"},"content":{"rendered":"<p><font size=\"5\"><strong>The Bottom Line<\/strong><\/font><\/p>\n<p><b>Is history for the S&amp;P 500 Index about to repeat<\/b>? The S&amp;P 500 Index has a long history of entering into a brief corrective period between May 5<sup>th<\/sup> and the third week in June. The corrective phase is the basis for the phrase \u201cSell in May and Go Away\u201d. Seasonal weakness during this period has been notable during U.S Mid-term Presidential Election Cycle years (such as this year).<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image002.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image002\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image002\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image002_thumb.png\" width=\"244\" height=\"178\" \/><\/a><\/p>\n<p>The main reason for the corrective phase is profit taking following good news released at annual meetings including positive first quarter results and favourable updates projected for the following year <\/p>\n<p><b>What about this year?<\/b> This year is different: Analysts normally <b>increase<\/b> earnings and cash flow estimates following release of first quarter results and the issuing of favourable annual prospects. This year, analysts <b>accelerated <\/b>their quarterly and annual earnings and revenue increases for S&amp;P 500 companies.<\/p>\n<p><font size=\"5\"><strong>Earnings and Revenues Consensus for S&amp;P 500 companies<\/strong><\/font><\/p>\n<p>Source: <a href=\"http:\/\/www.factset.com\">www.factset.com<\/a><\/p>\n<p><b>Analysts increased 2026 earnings and revenue estimates significantly last week: <\/b>63% of companies have reported quarterly results to date, 84% have reported higher than consensus earnings and 81% have reported higher than consensus revenues.<\/p>\n<ul>\n<li>Consensus for <b>first quarter 2026<\/b> calls for a 27.1% earnings increase, up from a 15.1% increase last week. Revenue gains increased to 11.3% from 10.3%.<\/li>\n<li>Consensus for <b>second quarter 2026<\/b> earnings gains increased to 21.3% from 20.6%. Consensus for revenue gains increased to 11.0% from 10.7%.<\/li>\n<li>Consensus for <b>third quarter 2026<\/b> earnings gains increased to 23.0% from 22.7%. Consensus for revenue gains increased to 9.7% from 9.5%.<\/li>\n<li>Consensus for <b>fourth quarter 2026<\/b> earnings gains increased to 20.6% from 20.4%. Revenue gains increased to 9.7% from 8.5%.<\/li>\n<li><b>For all of 2026<\/b>, consensus for earnings gains increased to 20.6% from 18.6%. Consensus for revenue gains increased to 9.7% from 9.5%.<\/li>\n<\/ul>\n<p><font size=\"5\"><strong>Economic News This Week<\/strong><\/font><\/p>\n<p><b>March U.S. Trade<\/b> released at 8:30 AM EST on Tuesday is expected to be a $60.4 billion deficit versus a $57.3 billion deficit in February<\/p>\n<p><b>February U.S. New Home Sales<\/b> released at 10:00 AM EST on Tuesday are expected to increase to 630.000 from 587,000 in January. March Sales are expected to increase to 660,000.<\/p>\n<p><b>April ISM Services<\/b> released at 10:00 AM EST on Tuesday are expected to increase to 54.3 from 54.0 in March.<\/p>\n<p><b>First quarter U.S. Productivity<\/b> released at 8:30 AM EST on Thursday is expected to increase 1.5% versus a 1.8% increase in the fourth quarter of 2025.<\/p>\n<p><b>February U.S. Construction Spending <\/b>released at 10:00 AM EST on Thursday is expected to slip 0.1% versus a 0.3% drop in January. March spending is expected to increase 0.4%.<\/p>\n<p><b>April U.S. Non-farm Payrolls<\/b> released at 8:30 AM EST on Friday are expected to drop to 53,000 from 178,000 in March. <b>April Unemployment Rate<\/b> is expected to remain unchanged from March at 4.3%. <b>April Average Hourly Wages<\/b> are expected to increase 0.3% versus a 0.2% increase in March. <b>On a year-over-year basis<\/b>, April Average Hourly Wages are expected to increase 3.8% versus a 3.5% increase in March.<\/p>\n<p><b>March Wholesale Inventories<\/b> released at 10:00 AM EST on Friday are expected to increase 1.4% versus a 0.8% increase in February.<\/p>\n<p><b>May U.S. Consumer Sentiment<\/b> released at 10:00 AM EST on Friday is expected to slip to 49.5 from 49.8 in April.<\/p>\n<p><font size=\"5\"><strong>Selected Earnings Report This Week<\/strong><\/font><\/p>\n<p>Another 126 S&amp;P 500 companies are scheduled to release quarterly results this week (including three Dow Jones Industrial Average companies). Another 16 TSX 60 companies are scheduled to report.<\/p>\n<p><font color=\"#646b86\"><b>Monday<\/b>: Vertex, Palantir, Diamondback Energy, ON Technologies<\/font><\/p>\n<p><font color=\"#646b86\"><b>Tuesday<\/b>: AMD, Eaton, Pfizer, Anheuser Busch, Cummins, <b>Suncor,<\/b> American Electric Power, Occidental, <b>Cameco<\/b>, Rockwell Automation, PayPal, Archer Daniel Midland, Prudential, Dupont, IFF, Pitney Bowes<\/font><\/p>\n<p><font color=\"#646b86\"><b>Wednesday<\/b>: ARM, Walt Disney, Uber, CVS Health, Marriott, DoorDash, MetLife,<b> Sun Life Financial, Restaurant Brands International, Nutrien, Fortis,<\/b> KraftHeinz<b>, Lundin Mining<\/b>, CF Industries, <b>Tourmaline Oil, TransAlta,<\/b> Whirlpool<\/font><\/p>\n<p><font color=\"#646b86\"><b>Thursday<\/b>: Shell, McDonalds, Gilead, McKesson, <b>Canadian Natural Resources<\/b>, AirBNB, Monster Beverages, Republic Services, Core Weave, <b>Wheaton Precious Metals<\/b>, Microchip Technology, Data dog, Becton Dickenson, <b>Pembina Pipelines, BCE, Open Text, Baytex Energy<\/b><\/font><\/p>\n<p><font color=\"#0000ff\"><font color=\"#646b86\"><b>Friday<\/b>: Toyota, <b>Enbridge, Emera, Brookfield Asset Management, Algonquin Power<\/b>, Wendy\u2019s<\/font><\/font><\/p>\n<p><b><i>Bolded stocks are Canadian listed stocks<\/i><\/b><i>. <\/i><\/p>\n<p><i><i>       <br \/><\/i><\/i><\/p>\n<p><i><\/i><\/p>\n<p><font size=\"5\"><strong>Trader\u2019s Corner<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image006.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image006\" style=\"display: inline; background-image: none;\" border=\"0\" alt=\"clip_image006\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image006_thumb.png\" width=\"244\" height=\"210\" \/><\/a><\/p>\n<p><font size=\"4\"><strong>Equity Indices and Related ETFs<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Equity Trends for May 1<sup>st<\/sup> 2026<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image008.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image008\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image008\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image008_thumb.png\" width=\"244\" height=\"116\" \/><\/a><\/p>\n<p><em><font color=\"#00ff00\">Green: Increase from previous day<\/font><\/em><\/p>\n<p><em><font color=\"#ff0000\">Red: Decrease from previous day<\/font><\/em><\/p>\n<p><em>Source for all positive seasonality ratings: <\/em><a href=\"http:\/\/www.EquityClock.com\"><em>www.EquityClock.com<\/em><\/a><\/p>\n<p><font size=\"4\"><strong>Commodities<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Commodities Trends for May 1<sup>st<\/sup> 2026<\/p>\n<p><b><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image010.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image010\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image010\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image010_thumb.png\" width=\"244\" height=\"142\" \/><\/a><\/b><\/p>\n<p><em><font color=\"#00ff00\">Green: Increase from previous day<\/font> <b><\/b><\/em><\/p>\n<p><em><font color=\"#ff0000\">Red: Decrease from previous day<\/font><\/em><\/p>\n<p><\/p>\n<p><strong><\/strong><\/p>\n<p><font size=\"4\"><strong>Sectors<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Sector Trends for May 1<sup>st<\/sup> 2026<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image012.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image012\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image012\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image012_thumb.png\" width=\"244\" height=\"165\" \/><\/a><\/p>\n<p><em><font color=\"#00ff00\">Green: Increase from previous day<\/font><\/em><\/p>\n<p><em>Red: Decrease from previous day<\/em><\/p>\n<p><font size=\"5\"><strong>Technical Notes for Friday<\/strong><\/font><\/p>\n<p><b>American Electric Power<\/b> (AEP) an S&amp;P 100 stock moved above $137.74 to an all-time high extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image013.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image013\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image013\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image013_thumb.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p><b>Exel Energy<\/b> (XEL) a NASDAQ 100 stock moved above $83.61 to an all-time high extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image014.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image014\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image014\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image014_thumb.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p><b>Zoom<\/b> (ZM) a NASDAQ 100 stock moved above $97.58 to a four year high extending an intermediate uptrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image015.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image015\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image015\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image015_thumb.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p><b>McDonalds <\/b>(MCD) a Dow Jones Industrial Average stock moved below $288.69 extending an intermediate downtrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image016.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image016\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image016\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image016_thumb.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p><font size=\"5\"><strong>Changes Last Week<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image018.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image018\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image018\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image018_thumb.png\" width=\"244\" height=\"244\" \/><\/a><\/p>\n<p><font size=\"5\"><strong>Links offered by valued providers<\/strong><\/font><\/p>\n<p><b>Money Talks with Michael Campbell for May 2<sup>nd<\/sup>. Feature guest is Jon Vialoux.<\/b><\/p>\n<p><a href=\"https:\/\/mikesmoneytalks.ca\/category\/mikes-content\/complete-show\/?mc_cid=01bd56a5aa&amp;mc_eid=592546b4b5\">Michael Campbell\u2019s MoneyTalks \u2013 Complete Show (mikesmoneytalks.ca)<\/a><\/p>\n<p><b>Dan Ives: Tech Stocks Have 12\u201315% More Upside \u2014 His Top AI Buys Now<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=K5xp5_mBMDA\">Dan Ives: Tech Stocks Have 12\u201315% More Upside \u2014 His Top AI Buys Now \u2013 YouTube<\/a><\/p>\n<p><b>ChartWatchers | Before you \u201cSell in May,\u201d check out this chart: StockCharts.com<\/b><\/p>\n<p><a href=\"https:\/\/articles.stockcharts.com\/article\/before-you-sell-in-may-check-the-seasonality-chart\/\">Before You Sell in May, Check the Seasonality Chart (stockcharts.com)<\/a><\/p>\n<p><b>Weekly Update with Larry Berman &#8211; May 2, 2026<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=pg0i8P5naI0\">https:\/\/www.youtube.com\/watch?v=pg0i8P5naI0<\/a><\/p>\n<p><b>Earnings Are Driving This Market, Here\u2019s Where to Look: Mary Ellen McGonagle<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=KeooDL5nVNM\">https:\/\/www.youtube.com\/watch?v=KeooDL5nVNM<\/a><\/p>\n<p><b>Trading Desk Notes for May 2, 2026: Victor Adair<\/b><\/p>\n<p><a href=\"https:\/\/www.howestreet.com\/2026\/05\/trading-desk-notes-for-may-2-2026\/\">https:\/\/www.howestreet.com\/2026\/05\/trading-desk-notes-for-may-2-2026\/<\/a><\/p>\n<p><font size=\"5\"><strong>S&amp;P 500 Momentum Barometers<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image019.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image019\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image019\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image019_thumb.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p>The intermediate term Barometer slipped 0.80 on Friday and added 2.00 last week to 54.80. It remains Neutral.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image020.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image020\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image020\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image020_thumb.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p>The short term (20 days) Barometer dropped 4.20 on Friday and dropped 4.40 last week to 55.80. It changed last week from Overbought to Neutral on a drop below 60.00.<\/p>\n<p>The long term Barometer slipped 0.20 on Friday and 2.40 last week to 57.80. It changed from Overbought to Neutral on a drop below 60.00.<\/p>\n<p><font size=\"5\"><strong>TSX Momentum Barometers<\/strong><\/font><\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image021.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image021\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image021\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image021_thumb.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p>The intermediate term Barometer dropped 1.36 on Friday and added 2.73 last week to 55.00. It remains Neutral.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image022.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image022\" style=\"display: inline; background-image: none;\" border=\"0\" alt=\"clip_image022\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image022_thumb.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p>The short term (20 days) Barometer dropped 0.45 on Friday and gained 16.82 last week to 55.91. It changed from Overbought to Neutral on a drop below 60.00.<\/p>\n<p><em><b>Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at <\/em><\/p>\n<p><a href=\"http:\/\/www.equityclock.com\"><em>www.equityclock.com<\/em><\/a><em> 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":"<p>The Bottom Line Is history for the S&amp;P 500 Index about to repeat? The S&amp;P 500 Index has a long history of entering into a brief corrective period between May 5th and the third week in June. The corrective phase is the basis for the phrase \u201cSell in May and Go Away\u201d. Seasonal weakness during [&hellip;]<\/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-194732","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/194732","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=194732"}],"version-history":[{"count":1,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/194732\/revisions"}],"predecessor-version":[{"id":194733,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/194732\/revisions\/194733"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=194732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=194732"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=194732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}