Tech Talk for Friday May 23rd 2025

U.S. equity index futures were lower this morning. S&P 500 futures were down 78 points at 8:35 AM EST.

The Canadian Dollar added 0.02 to US72.39 cents following release of Canada's March Retail Sales at 8:35 AM EDT. Consensus was a 0.3% increase versus a 0.4% decline in February. Actual was a 0.8% increase.

Apple dropped $5.17 to $196.33 after President Trump threatened tariffs on products produced outside of the United States.

Intuit added $54.30 to $720.37 after reporting higher than consensus third quarter earnings

Copart dropped $1.01 to $59.65 after reporting less than consensus fiscal third quarter revenues.

Decker dropped $21.89 to $104.20 after reporting less than consensus first quarter revenues and earnings.

EquityClock's Market Outlook for May 23rd

The trends of existing home sales and weekly jobless claims suggest strains in the economy as consumers and businesses battle the high cost of borrowing and general uncertainty pertaining to demand (tariffs). See:

https://equityclock.com/2025/05/22/stock-market-outlook-for-may-23-2025/

Next Tech Talk report

Next report is scheduled to be released on Tuesday, May 27th.  U.S. exchanges are closed on Monday for the Memorial Day holiday.

Technical Notes

20 year+ Treasury Bond iShares $TLT briefly moved below $83.71 extending an intermediate downtrend.

Toronto Dominion Bank $TD.TO a TSX 60 stock moved above Cdn$92.39 to an all-time high extending an intermediate uptrend. Responded to better than expected fiscal second quarter earnings.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for May 22nd 2025

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 22nd 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 22nd 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

MACD + ADX: Spot the Pullbacks Worth Trading: Joe Rabil

https://www.youtube.com/watch?v=EoGxfrG3SXg

Bulls vs Bears: Who Will Win This Battle? Keith Richards

https://www.youtube.com/watch?v=DPwr1Zb_52E

Grant White’s top stock picks in Canadian banks

Grant White’s top stock picks in Canadian banks - YouTube

Should YOU Be Bullish Or Bearish Right Now? Tom Bowley

Should YOU Be Bullish Or Bearish Right Now? - YouTube

David Barr's Top Canadian Small Cap Picks for 2025 | In the Money with Amber Kanwar

David Barr's Top Canadian Small Cap Picks for 2025 | In the Money with Amber Kanwar - YouTube

Yield Spike Spooks Stocks: Guy Adami and Dan Nathan

Yield Spike Spooks Stocks - YouTube

Stockton: Gold has paused, but platinum may emerge as a leader

Stockton: Gold has paused, but platinum may emerge as a leader - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped another 5.00 to 61.60. It remains Overbought. Daily downtrend was established.

The long term Barometer slipped 0.60 to 49.40. It remains Neutral.

The short term (20 days) Barometer plunged another 6.40 to 56.40. High was 89.00 set on Tuesday.

TSX Momentum Barometers

The intermediate term Barometer dropped 2.30 to 78.34. It remains Overbought.

The long term Barometer was unchanged at 66.82. 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.