Tech Talk for Friday May 25th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade.

Index futures moved slightly lower following release of April Durable Goods Orders at 8:30 AM EDT. Consensus was a drop of 1.4% versus gain of 2.7% in March. Actual was a drop of 1.7%. Excluding transportation, April Durable Goods Orders were expected to increase 0.5%. Actual was an increase of 0.9%.

PayPal added $1.05 to $82.60 after the company increased guidance. Stifel Nicolaus raised its rating on the stock to Buy from Hold.

Gap Stores dropped $2.45 to $30.50 after reporting lower than consensus sales and earnings. SunTrust lowered its target price to $29 from $35.

Footlocker gained $6.91 to $53.30 after reporting higher than consensus sales and earnings.

AutoDesk fell $6.86 to $132.06 after lowering guidance.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/05/24/stock-market-outlook-for-may-25-2018/

Note seasonality charts on Dow Jones Transportation Average, Existing Home Sales, Inventory of Existing Homes for Sale and Median Sales Price of Existing Homes.

StockTwits Released Yesterday @EquityClock

Corn ETN $CORN moved above $18.50 extending an intermediate uptrend.

Technical action by S&P 500 stocks to 9:45: Mixed. Intermediate breakouts: $MDT $ADS. Breakdowns: $BBY $HRL $NTAP.

Editor's Note: After 9:45 AM EDT, breakout included BAX. No breakdowns.

Gold stocks are responding to strength in gold prices. IAMGold $IMG.CA moved above $8.04 extending an intermediate uptrend.

Norbord $OSB.CA moved above $54.59 to a 10 year high extending an intermediate uptrend.

YTD change in natural gas storage still 8.75% below average following last week's build. #NATGAS $UNG $NG-F

Existing Home Sales up 6.0% (NSA) in April, well below the 10.9% increase that is average for the month. #Economy #Housing $MACRO.

Interfor $IFP.CA oved above $26.50 to an all-time high extending an intermediate uptrend.

Trader's Corner

Daily Seasonal/Technical Equity Trends for May 24th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Commodities Trends for May 24th 2018

Green: Increase from previous day

Red: Decrease from previous day

Daily Seasonal/Technical Sector Trends for May 24th 2018

Green: Increase from previous day

Red: Decrease from previous day

Schachter Energy Report

The May report has just been released. Josef notes that "The Next Waterfall Phase of the General Market Decline is imminent". His subscription report is available at www.SchacterEnergyReport.ca

S&P Momentum Barometer

The Barometer added 0.33 to 62.53 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 0.41 to 73.66 yesterday. It remains intermediate overbought.

Disclaimer: Seasonality 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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