Tech Talk for Friday May 22nd 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade.

The Canadian Dollar was virtually unchanged at US 71.37 cents following release of the March Canadian Retail Sales report at 8:30 AM EDT. Consensus was a fall of 10.5% versus a gain of 0.3% in February. Actual was a drop of 10.0%

Deere gained $5.18 to $147.99 after reporting higher than consensus fiscal second quarter sales and earnings.

Hewlett Packard Enterprises slipped $0.63 to$9.73 after reporting lower than consensus fiscal second quarter sales and earnings. Raymond James downgraded the stock from Outperform to Market Perform.

NVIDIA gained $5.92 to $356.93 after reporting higher than consensus first quarter revenues and earnings. Target price on the stock was raised by Benchmark, Wedbush, Raymond James and Mizuho.

Agilent advanced $3.48 to $84.23 after reporting higher than consensus fiscal second quarter revenues and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/05/21/stock-market-outlook-for-may-22-2020/

Note seasonality charts on Existing Home Sales and Natural Gas Storage.

Next Tech Talk Report

It will be available on Monday despite the U.S. Memorial Day holiday in the U.S.

Technical Notes

Starbucks (SBUX), an S&P 100 stock moved above $$78.72 resuming an intermediate uptrend.

Eli Lilly (LLY), an S&P 100 stock moved below $150.55 completing a double top pattern.

Lululemon Athletica (LULU, a NASDAQ 100 stock moved above $266.20 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 21st 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for May 21st 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 21st 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 0.40 to 81.75 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer added 1.79 to 79.46 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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