Tech Talk for Friday May 28th 2021

Next Tech Talk report is released on Monday despite the U.S. holiday.

Pre-opening Comments for Friday May 28th

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points In pre-opening trade.

Equity index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for April Personal Income was a drop of 14.0% versus a revised gain of 20.9% in March. Actual was a drop of 13.1%. Consensus for April Personal Spending was unchanged versus a gain of 4.2% in March. Actual was a gain of 0.7%

Salesforce.com advanced $12.69 to $238.52 after reporting higher than consensus first quarter earnings. The company also raised guidance.

Costco dropped $2.00 to $385.50 despite reporting higher than consensus fiscal third quarter earnings.

Gap Stores slipped $0.10 to $35.05 despite reporting higher than consensus first quarter earnings. The company also offered positive guidance.

National Bank (NA Cdn$96.97) is expected to open higher after reporting higher than consensus fiscal second quarter earnings.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/05/27/stock-market-outlook-for-may-28-2021/

Technical Notes released yesterday at StockCharts.com@EquityClock

Buy Energy, Sell Financials. equityclock.com/2021/05/26/… $XLE $XOP $OIH $XLF $KBE $VDE $VFH

Lithium ETN $LIT moved above $64.25 resuming an intermediate uptrend.

South Africa iShares $EZA moved above $52.36 extending an intermediate uptrend.

U.S. Aerospace & Defense iShares $ITA moved above $108.66 extending an intermediate uptrend.

Facebook $FB an S&P 100 stock moved above $331.81 to an all-time high extending an intermediate uptrend.

FedEx $FDX an S&P 100 stock moved above $317.00 to an all-time high extending an intermediate uptrend.

Simon Property Group $SPG an S&P 100 stock moved above $128.25 extending an intermediate uptrend.

American International Group $AIG an S&P 100 stock moved above $52.70 extending an intermediate uptrend.

Coca Cola $KO a Dow Jones Industrial Average stock moved above $55.49 extending an intermediate uptrend.

Telus $T.CA a TSX 60 stock moved above $27.28 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for May 27th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for May 27th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 27th 2021

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index

S&P 500 Momentum Barometers

The intermediate term Barometer added 1.00 to 75.35 yesterday. It remains Overbought.

The long term Barometer slipped 0.22 to 91.18 yesterday. It remains Extremely Overbought.

TSX Momentum Barometers

The intermediate Barometer gained 3.57 to 70.70 yesterday. It remains Overbought.

The long term Barometer slipped 0.56 to 78.14 yesterday. It remains 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