Tech Talk for Friday May 10th 2024
U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points at 8:35 AM EDT.
The Canadian Dollar advanced 0.15 to US73.27 cents following release of Canada's April Employment Report at 8:30 AM EDT. Consensus called for an employment increase of 20,900 in April versus an employment decrease of 2,200 in March. Actual was an increase of 90,400.. Consensus called for an increase in the April Unemployment Rate to 6.2% from 6.1% in March. Actual was unchanged at 6.1%.
Gold futures jumped $32.00 to US$2372.30 in pre-opening trade.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0011-4.png "clip_image001[1]")
H&R Block gained $1.06 to $50.25 after reporting higher than consensus fiscal third quarter revenues.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0021-4.png "clip_image002[1]")
Akamai Technology dropped $10.46 to 192.00 after offering guidance below consensus.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0031-4.png "clip_image003[1]")
Yelp dropped $2.62 to $37.00 after offering guidance below consensus.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0041-4.png "clip_image004[1]")
Technical Notes
EAFE iShares $EFA (measures equity index performance beyond North America) moved above $80.06 to an all-time high extending an intermediate uptrend.
Eurozone iShares $EZU moved above $51.46 to an all-time high extending an intermediate uptrend.
U.S. major center banks SPDRs $KBE moved above $47.26 extending an intermediate uptrend.
U.S. Broker/Dealer iShares $IAI moved above $116.16 to an all-time high extending an intermediate uptrend.
TSX Composite Index moved above 22,380.16 to an all-time high extending an intermediate uptrend.
Strength by the TSX Composite was led by strength in TSX Financials and their related iShares $XFN.TO on a move above $50.02. Individual breakouts included National Bank on a move above Cdn$114.05 to an all-time high, Manulife Financial on a move above Cdn$34.05 to an all-time high and Power Corp on move above Cdn$39.71 to an all-time high.
Wheaton Precious Metals $WPM.TO a TSX 60 stock moved above Cdn$74.72 and US$54.87 to an all-time high extending an intermediate uptrend.
Nutrient $NTR.TO a TSX 60 stock moved above Cdn$77.94 extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for May 9th 2024
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for May 9th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for May 9th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Utilities is the Top Performing Sector?!? David Keller
Utilities is the Top Performing Sector?!? - YouTube
Buy, Sell, Hold These Stocks Into Earnings: Guy Adami and Carter Worth
(Note comment on Silver)
Buy, Sell, Hold These Stocks Into Earnings - YouTube
What’s Going On With the S&P Sectors? Tom Bowley
(Note seasonality chart on the Toy sector)
What’s Going On With the S&P Sectors? - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 6.00 to 57.20. It remains Neutral.
The long term Barometer added 2.20 to 77.60. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 0.90 to 65.92. It remains Overbought.
The long term Barometer was unchanged at 70.40. It remains Overbought.
Disclaimer: Seasonality ratings and technical ratings offered in this report and at
www.equityclock.com 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
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