Tech Talk for Friday May 8th 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points in pre-opening trade.

Index futures were virtually unchanged following release of the U.S. employment report at 8:30 AM EDT. Consensus for April Non-farm Payrolls was a drop to 22.000 million from 701,000 in March. Actual was 20.500 million. Consensus for the April Unemployment Rate was a jump to 16.0% from 4.4% in March. Actual was a jump to 14.7%. Consensus for April Hourly Earnings was an increase of 0.3% versus a gain of 0.4% in March. Actual was an increase of 4.7%.

The Canadian Dollar was virtually unchanged at US71.78 cents following release of Canada's April Employment Report at 8:30 AM EDT. Consensus was a drop of 4.000 million versus a drop of 1.100 million in March. Actual was a drop of 1.99 million. Consensus for April Unemployment Rate was an increase to 18.0% from 7.8% in March. Actual was an increase to 13.0%.

Gap Stores (GPS $7.64) is expected to open lower after Wedbush lowered its target price from $12 to $7.

Uber gained $2.34 to $33.27 after SunTrust and Wedbush raised their target price on the stock.

Constellation Brands slipped $1.27 to $163.50 after MKM Partners lowered its rating on the stock from Buy to Sell.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/05/07/stock-market-outlook-for-may-8-2020/

Note seasonality chart on U.S. Non-farm Payrolls

StockTwits released yesterday @EquityClock

T-Mobile $TMUS, a NASDAQ 100 stock moved above $93.30 resuming an intermediate uptrend

Agnico-Eagle $AEM, a TSX 60 stock moved above US$64.31 to an all-time high extending an intermediate uptrend.

Intuitive Surgical $ISRG, a NASDAQ 100 stock moved above $529.50 resuming an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 7th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for May 7th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 7th 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 10.62 to 64.13 yesterday. It changed from intermediate neutral to intermediate overbought on a move above 60.00.

TSX Momentum Barometer

The Barometer added another 2.50 to 64.00 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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