{"id":195104,"date":"2026-05-17T19:59:04","date_gmt":"2026-05-17T23:59:04","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=195104"},"modified":"2026-05-17T19:59:04","modified_gmt":"2026-05-17T23:59:04","slug":"tech-talk-for-monday-may-18th-2026","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2026\/05\/17\/tech-talk-for-monday-may-18th-2026\/","title":{"rendered":"Tech Talk for Monday May 18th 2026"},"content":{"rendered":"<p><font size=\"5\"><strong>The Bottom Line<\/strong><\/font><\/p>\n<p><b>North American equity markets are expected to trade in a relative narrow trading range this week: <\/b>Frequency of significant quarterly earnings reports by large cap U.S. companies (with the exceptions of Nvidia\u2019s report on Wednesday and Walmart\u2019s report on Thursday) are winding down and frequency of reports by TSX 60 companies have past their peak.<\/p>\n<p><b> Historically, The S&amp;P 500 Index and the TSX Composite Index have been flat to slightly lower in the week in May following expiration of May listed equity and index options<\/b>. Expiration this year was on Friday May 15<sup>th<\/sup>.<\/p>\n<p><b>Watch out for \u201cWitches\u2019 Hangover\u201d in U.S<\/b>. <b>equity markets<\/b>, the trading day after expiration of monthly listed equity, index and index futures options (i.e. Monday May 18<sup>th <\/sup>this year). A brief dip in U.S. equity indices frequently occurs when indices record a drop on \u201cTriple Witching Day\u201d (i.e. May 15<sup>th<\/sup> this year) <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image002-10.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-10.png\" width=\"244\" height=\"178\" \/><\/a><\/p>\n<p><font size=\"5\"><strong>Earnings and Revenue 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 their 2026 earnings and revenue estimates again last week: <\/b>91% of companies have reported quarterly results to date: 84% have reported higher than consensus earnings and 80% have reported higher than consensus revenues.<\/p>\n<ul>\n<li>Consensus for <b>first quarter 2026<\/b> called for a 27.7% earnings gains, unchanged from last week. Revenue gains increased to 11.4% from 11.3%.<\/li>\n<li>Consensus for <b>second quarter 2026<\/b> earnings gains increased to 20.5% from 19.9% last week. Consensus for revenue gains increased to 11.4% from 11.2%.<\/li>\n<li>Consensus for <b>third quarter 2026<\/b> earnings gains increased to 23.6% from 23.2%.last week. Consensus for revenue gains increased to 10.1% from 9.9%.<\/li>\n<li>Consensus for <b>fourth quarter 2026<\/b> earnings gains increased to 21.1% from 20.7%. Revenue gains increased to 10.3% from 9.5%.<\/li>\n<li><b>For all of 2026<\/b>, consensus for earnings gains increased to 21.5% from 21.0%. Consensus for revenue gains increased to 10.3% from 10.1%.<\/li>\n<li><\/li>\n<\/ul>\n<p><font size=\"5\"><strong>Economic News This Week<\/strong><\/font><\/p>\n<p>Source: <a href=\"http:\/\/www.marketwatch.com\">www.marketwatch.com<\/a><\/p>\n<p><b>April U.S. Housing Starts<\/b> released at 8:30 AM EST on Thursday are expected to drop to 1.40 million units from 1.50 million units in March.<\/p>\n<p><b>May Philly Fed<\/b> released at 8:30 AM EST on Thursday is expected to drop to 18.0 from 26.7 in April.<\/p>\n<p><b>May U.S. May Consumer Sentiment<\/b> released at 10:00 AM EST on Friday is expected to be unchanged at 48.2.<\/p>\n<p><b>April Leading Economic Indicators<\/b> released at 10:00 AM EST on Friday are expected to improve to -0.2 from -0.6 in March.<\/p>\n<p><font size=\"5\"><strong>Selected Earnings Reports This Week<\/strong><\/font><\/p>\n<p>Source: <a href=\"https:\/\/ca.investing.com\/\">Investing.com Canada &#8211; Stock Market Data and Financial News<\/a><\/p>\n<p>First quarter U.S. earnings report season is winding down. Eighteen S&amp;P 500 companies (including three Dow Jones Industrial Average companies: Home Depot, Walmart and Deere) are scheduled to report. One TSX 60 company is scheduled to report: CAE.<\/p>\n<p><b>Monday<\/b>: Baidu, Toll Brothers<\/p>\n<p><b>Tuesday<\/b>: Home Depot<\/p>\n<p><b>Wednesday<\/b>: Nvidia, Lowes, Intuit, Target, Hasbro, TJX Companies, Analog Devices<\/p>\n<p><b>Thursday<\/b>: Walmart, Deere, NetEase, Ross Stores, Take Two, Copart, Zoom, Workday, CAE<\/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_image004-9.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image004\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image004\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image004_thumb-9.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 15<sup>th<\/sup> 2026<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image006-9.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image006\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image006\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image006_thumb-9.png\" width=\"244\" height=\"116\" \/><\/a><\/p>\n<p><i>Green<\/i><i>: Increase from previous day <\/i><i><\/i><\/p>\n<p><font color=\"#ff0000\"><i>Red:<\/i><i> Decrease from previous day<\/i><\/font><\/p>\n<p><i>Source for all positive seasonality ratings: <a href=\"http:\/\/www.EquityClock.com\">www.EquityClock.com<\/a><\/i><i> <\/i><\/p>\n<p><i><\/i><\/p>\n<p><i>     <br \/><\/i><\/p>\n<p><i><\/i><\/p>\n<p><font size=\"4\"><strong>Commodities<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Commodities Trends for May 15<sup>th<\/sup> 2026<\/p>\n<p><b><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image008-9.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-9.png\" width=\"244\" height=\"142\" \/><\/a><\/b><\/p>\n<p><font color=\"#00ff00\">Green: <i>Increase from previous day<\/i><\/font> <b><\/b><\/p>\n<p><font color=\"#ff0000\">Red: <i>Decrease from previous day<\/i><\/font><\/p>\n<p><i>     <br \/><\/i><\/p>\n<p><i><\/i><\/p>\n<p><font size=\"4\"><strong>Sectors<\/strong><\/font><\/p>\n<p>Daily Seasonal\/Technical Sector Trends for May 15<sup>th<\/sup> 2026<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image010-7.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-7.png\" width=\"244\" height=\"164\" \/><\/a><\/p>\n<p><font color=\"#00ff00\">Green<i>: Increase from previous day<\/i><\/font><\/p>\n<p><font color=\"#ff0000\">Red: <i>Decrease from previous day<\/i><\/font><\/p>\n<p><em><\/em><\/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_image012-8.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-8.png\" width=\"244\" height=\"180\" \/><\/a><\/p>\n<p><font size=\"5\"><strong>Technical Notes<\/strong><\/font><\/p>\n<p><b>Utilities SPDRs <\/b>(XLU)<b> <\/b>moved below $44.12 completing a Head &amp; Shoulders pattern. Responded on Friday to a spike in yield by long term Treasuries! Yield on 10 year Treasuries spiked 13.4 basis points to 4.595%.<\/p>\n<p><b><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image013-7.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-7.png\" width=\"244\" height=\"152\" \/><\/a><\/b><b><\/b><\/p>\n<p><b>Global Timber iShares<\/b> (WOOD) moved below $66.65 and $65.85 extending an intermediate downtrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image014-8.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-8.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p><b>PDD Holdings<\/b> (PDD) a NASDAQ 100 stock moved below $95.37 extending an intermediate downtrend. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image015-8.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-8.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p><b>Paccar<\/b> (PCAR) a NASDAQ 100 stock moved below $110.02 completing a double top pattern.<\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image016-6.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-6.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p><font size=\"5\"><strong>Links offered by valued providers<\/strong><\/font><\/p>\n<p><b>Michael Campbell\u2019s Money Talks for May 16<sup>th<\/sup> <\/b><\/p>\n<p><a href=\"https:\/\/mikesmoneytalks.ca\/category\/mikes-content\/complete-show\/\">https:\/\/mikesmoneytalks.ca\/category\/mikes-content\/complete-show\/<\/a><\/p>\n<p><b>This Week in Money: Ross Clark, Josef Schachter, Mark Liebovit, Jim Willie<\/b><\/p>\n<p><a href=\"https:\/\/www.howestreet.com\/2026\/05\/oil-gold-silver-energy-iran-commodities-inflation-josef-schachter-mark-leibovit-jim-willie-ross-clark-this-week-in-money\/\">https:\/\/www.howestreet.com\/2026\/05\/oil-gold-silver-energy-iran-commodities-inflation-josef-schachter-mark-leibovit-jim-willie-ross-clark-this-week-in-money\/<\/a><\/p>\n<p><b>MARKET SHOCK: 4.5% Yield Spike Semiconductor Rug Pull: Verified Investing<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=pP3X_IJEtsU\">MARKET SHOCK: 4.5% Yield Spike Semiconductor Rug Pull \u2013 YouTube<\/a><\/p>\n<p><b>The Oil Supply Shock Investors May Be Missing Ninepoint Partners<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=AtjwbuzKgo8\">The Oil Supply Shock Investors May Be Missing \u2013 YouTube<\/a><\/p>\n<p><b>Key Takeaways from Trump&#8217;s China Visit &amp; Fed&#8217;s Iran-Tied Inflation Woes<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=LiqxQBPFnxY\">Key Takeaways from Trump&#8217;s China Visit &amp; Fed&#8217;s Iran-Tied Inflation Woes \u2013 YouTube<\/a><\/p>\n<p><b>The Recession has Begun, and Costco Proves It | Redefining Diversification feat. Paisley Nardini<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=xvqt2YWXdeI\">The Recession has Begun, and Costco Proves It | Redefining Diversification feat. Paisley Nardini \u2013 YouTube<\/a><\/p>\n<p><b>This Market Rally Is Starting to Narrow: Mary Ellen McGonagle<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=n3MSEnnuVV0\">https:\/\/www.youtube.com\/watch?v=n3MSEnnuVV0<\/a><\/p>\n<p><b>Weekly Update with Larry Berman &#8211; May 16, 2026<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=7FAJEdHWMeM\">https:\/\/www.youtube.com\/watch?v=7FAJEdHWMeM<\/a><\/p>\n<p><b>Why the S&amp;P 500 Is In Short-Term Trouble: Tom Bowley<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=P2F2ElZaN-0\">https:\/\/www.youtube.com\/watch?v=P2F2ElZaN-0<\/a><\/p>\n<p><b>5-Step Process to Trade with More Confidence: Tom Bowley<\/b><\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=IWG4K4yeBms\">https:\/\/www.youtube.com\/watch?v=IWG4K4yeBms<\/a><\/p>\n<p><b>The Healthcare Sector May Be Turning Bullish \u2014 Here&#8217;s Why It Matters: Mary Ellen McGonagle<\/b><\/p>\n<p><a href=\"https:\/\/articles.stockcharts.com\/article\/healthcare-sector-may-be-turning-bullish-why-it-matters\/\">The Healthcare Sector May Be Turning Bullish \u2014 Here&#8217;s Why It Matters (stockcharts.com)<\/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_image017-5.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image017\" style=\"margin: 0px; display: inline; background-image: none;\" border=\"0\" alt=\"clip_image017\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image017_thumb-5.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p>The intermediate term Barometer dropped another 2.80 on Friday and 6.60 last week to 44.20. It remained Neutral. Daily downtrend was extended. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image018-7.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-7.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p>The short term (20 days) Barometer dropped 5.40 on Friday and dropped 7.20 last week to 36.00 to 36.00. It changed on Friday from Neutral to Oversold on a drop below 36.00. Daily downtrend was extended.<\/p>\n<p>The long term Barometer dropped 2.60 on Friday and slipped 2.40 last week to 52.40. It remains Neutral. Daily downtrend was extended. <\/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_image019-4.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-4.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p>The intermediate term Barometer dropped 6.82 on Friday and fell 5.45 last week to 55.45. It changed from Overbought to Neutral on a drop below 60.00. <\/p>\n<p><a href=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image020-4.png\"><img loading=\"lazy\" decoding=\"async\" title=\"clip_image020\" style=\"display: inline; background-image: none;\" border=\"0\" alt=\"clip_image020\" src=\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2026\/05\/clip_image020_thumb-4.png\" width=\"244\" height=\"152\" \/><\/a><\/p>\n<p>The short term (20 days) Barometer plunged 18.18 on Friday and dropped 20.00 last week. It changed from Overbought to Neutral on a drop below 60.00.<\/p>\n<p>The long term Barometer dropped 4.09 on Friday and dropped 6.36 last week to 69.55. It remains Overbought.<\/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 North American equity markets are expected to trade in a relative narrow trading range this week: Frequency of significant quarterly earnings reports by large cap U.S. companies (with the exceptions of Nvidia\u2019s report on Wednesday and Walmart\u2019s report on Thursday) are winding down and frequency of reports by TSX 60 companies have [&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-195104","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/195104","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=195104"}],"version-history":[{"count":1,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/195104\/revisions"}],"predecessor-version":[{"id":195105,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/195104\/revisions\/195105"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=195104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=195104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=195104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}