Tech Talk for Tuesday May 14th 2024
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points at 8:35 AM EDT.
S&P 500 futures dropped 12 points following release of the April U.S. Producer Price Index at 8:30 AM EDT. Consensus for PPI was an increase of 0.3% versus a gain of 0.2% in March. Actual was an increase of 0.5%. On a year-over-year basis, consensus was an increase of 2.1% versus a gain of 2.1% in March. Actual was a gain of 2.2%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.2% in March. Actual was an increase of 0.5%. On a year-over year basis, consensus for April Core PPI was an increase of 2.4% versus a gain of 2.4% in March. Actual was an increase of 2.4%.
Home Depot added $2.14 to $343.10 after reporting higher than consensus first quarter results.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0011-6.png "clip_image001[1]")
Paysafe added $2.18 to $17.85 after reporting higher than consensus first quarter results.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0021-5.png "clip_image002[1]")
Alibaba dropped $4.10 to $80.50 after reporting less than consensus quarterly earnings.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0031-6.png "clip_image003[1]")
Technical Notes
Xcel Energy $XEL a NASDAQ 100 stock moved above $55.59 extending an intermediate uptrend.
Qualcomm $QCOM a NASDAQ 100 stock moved above $183.62 to an all-time high extending an intermediate uptrend.
Philip Morris International $PM an S&P 100 stock moved above $99.67 to an all-time high extending an intermediate uptrend.
TSX Consumer Staples iShares $XST.TO moved above Cdn$95.85 to an all-time high extending an intermediate uptrend.
TSX Financial Services Index $SPTFS moved above $401.78 to an all-time high extending an intermediate uptrend. Canadian Financial Services iShares $XFN.TO also moved to an all-time high.
Technical score is +4: Score
Intermediate Trend: Up 2
Strength Relative to S&P 500: Neutral 0
Trades above its 20 day Moving Average 1
Daily Momentum (Stochastics, RSI, MACD: up 1
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for May 13th 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 13th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for May 13th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
This Stealth AI Stock is ready to EXPLODE Higher: Enbridge? Mary Ellen McGonagle
This Stealth AI Stock is Ready to EXPLODE Higher - YouTube
Our call is that you’re going to see flat interest rates for the next several months: Belski
Consumers are feeling the pressure of inflation as household delinquencies continue to rise: Steve Leisman
Canadian Association for Technical Analysis Presentation
Presenter is Chase Taylor. Time tonight for the ZOOM presentation is 8:00 PM EDT. Everyone is welcome. Not a member of CATA? Contact CATA@Canadianata.org
S&P 500 Momentum Barometers
The intermediate term Barometer added 0.40 to 58.40. It remains Neutral. Daily trend is up.
The long term Barometer was unchanged at 78.40. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 1.79 to 65.02. It remains Overbought.
The long term Barometer dropped 1.35 to 68.61. 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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