{"id":194878,"date":"2026-05-07T20:40:35","date_gmt":"2026-05-08T00:40:35","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=194878"},"modified":"2026-05-08T08:53:57","modified_gmt":"2026-05-08T12:53:57","slug":"tech-talk-for-friday-may-8th-2026","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2026\/05\/07\/tech-talk-for-friday-may-8th-2026\/","title":{"rendered":"Tech Talk for Friday May 8th 2026"},"content":{"rendered":"

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

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 49 points at 8:35 AM EST<\/em><\/p>\n

S&P 500 futures added 13 points following release of the April U.S. employment report at 8:30 AM EST. April U.S. Non-farm Payrolls<\/b> were expected to drop to a 55,000 increase from a 178,000 increase in March. Actual was a 115,000 increase. April Unemployment Rate<\/b> was expected to remain unchanged from March at 4.3%. Actual was unchanged. April Average Hourly Wages<\/b> were expected to increase 0.3% versus a 0.2% increase in March. Actual was a 0.2% increase. On a year-over-year basis<\/b>, April Average Hourly Wages were expected to increase 3.8% versus a 3.5% increase in March. Actual was a 3.6% increase. <\/em><\/p>\n

The Canadian Dollar slipped 0.10 to US73.12 cents following release of Canada\u2019s April Employment report<\/b> at 8:30 AM EST. Consensus called for no change from March. Actual was a 17,700 drop. April Unemployment rate slipped to 6.9%.<\/em><\/p>\n

Trade Desk<\/b> (TTD) dropped $3.01 to $20.48 after reporting less than consensus first quarter earnings. The company also issued cautious guidance. <\/em><\/p>\n

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Block<\/b> (XYZ) added $5.58 to $75.72 after reporting higher than consensus first quarter earnings<\/em> <\/p>\n

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Cloudflare <\/b>(NET) dropped $36.52 to $220.27 after issuing second quarter guidance below consensus. <\/em><\/p>\n

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EquityClock\u2019s Market Outlook for May 8th<\/sup><\/strong><\/font><\/em><\/p>\n

Emerging leadership presenting new opportunities heading into the off-season for risk assets. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2026\/05\/07\/stock-market-outlook-for-may-8-2026\/<\/em><\/a><\/p>\n

Time to pick stocks very carefully: Mark Leibovit<\/strong><\/font><\/em><\/p>\n

Time to Pick Stocks Very Carefully \u2013 HoweStreet<\/em><\/a><\/p>\n

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

Global Base Metals iShares<\/b> (PICK) moved above US$64.94 to an all-time high extending an intermediate uptrend. <\/p>\n

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Solar ETF<\/b> (TAN) moved above $61.03 extending an intermediate uptrend. <\/p>\n

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Software iShares<\/b> (IGV) moved above $89.04 setting an intermediate uptrend. <\/p>\n

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S&P 100 and NASDAQ 100 stocks <\/b>moving above resistance and extending intermediate uptrends included Apple<\/b> (AAPL) on a moved above $288.35 to an all-time high, Qualcomm <\/b>(QCOM) on a move above $221.91 to an all-time high, Tesla <\/b>(TSLA) on a move above $409.28, <\/p>\n

Zscaler<\/b> (ZS) on a move above $144.71 completing a reverse Head & Shoulders pattern,<\/p>\n

MongoDB<\/b> (MDB) on a move above $278.69 and Kraft Heinz<\/b> (KHC) on a move above $23.62 completing a double bottom pattern.<\/p>\n

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Bristol-Myers<\/b> (BMY) an S&P 100 stock moved below $55.87 completing a double top pattern. <\/p>\n

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Nutrien <\/b>(NTR.TO) a TSX 60 stock moved below Cdn$94.78 extending an intermediate downtrend. The company reported less than consensus quarterly results. <\/p>\n

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Trader\u2019s Corner<\/strong><\/font><\/p>\n

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Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for May 7th<\/sup> 2026<\/p>\n

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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

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

Daily Seasonal\/Technical Commodities Trends for May 7th<\/sup> 2026<\/p>\n

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

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

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

Daily Seasonal\/Technical Sector Trends for May 7th<\/sup> 2026<\/p>\n

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

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

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

ALL-TIME HIGHS! Why Stocks Are Skyrocketing While the Consumer Collapses? <\/b><\/b><\/b><\/p>\n

Verified Investor<\/b><\/p>\n

ALL-TIME HIGHS! Why Stocks Are Skyrocketing While the Consumer Collapses? \u2013 YouTube<\/a><\/p>\n

Sell in May? History Says You\u2019ll Miss a 16% Rally – What To Do Now: Sam Stoval<\/b><\/p>\n

Sell in May? History Says You\u2019ll Miss a 16% Rally – What To Do Now \u2013 YouTube<\/a><\/p>\n

The K-shaped gap widens: Here’s what to know Steve Leisman<\/b><\/p>\n

The K-shaped gap widens: Here’s what to know \u2013 YouTube<\/a><\/p>\n

When the Market Shoots First, Who Asks the Questions? | AI in 2026 with Jed Ellerbroek<\/b><\/p>\n

When the Market Shoots First, Who Asks the Questions? | AI in 2026 with Jed Ellerbroek \u2013 YouTube<\/a><\/p>\n

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

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The intermediate term Barometer dropped 2.80 to 52.60. It remains Neutral.<\/p>\n

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The short term (20 days) Barometer plunged 8.00 to 43.80. It remains Neutral. Daily downtrend was extended.<\/p>\n

The long term Barometer dropped 1.20 to 56.60. It remains Neutral.<\/p>\n

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

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The intermediate term Barometer slipped 0.45 to 55.91. It remains Neutral.<\/p>\n

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The short term (20 days) Barometer added 1.82 to 60.45. It returned to Overbought from Neutral on a move above 60.00.<\/p>\n

The long term Barometer added 1.36 to 75.91. It remains Overbought.<\/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 Friday May 8th U.S. equity index futures were higher this morning. S&P 500 futures were up 49 points at 8:35 AM EST S&P 500 futures added 13 points following release of the April U.S. employment report at 8:30 AM EST. April U.S. Non-farm Payrolls were expected to drop to a 55,000 increase […]<\/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-194878","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/194878","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=194878"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/194878\/revisions"}],"predecessor-version":[{"id":194886,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/194878\/revisions\/194886"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=194878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=194878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=194878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}