Tech Talk for Thursday May 16th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.

Index futures moved slightly higher following release of U.S. economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was 220,000 versus 228,000 last week. Actual was 212,000. Consensus for April Housing Starts was 1.205 million units versus a revised 1.168 million units in March. Actual was 1.235 million units. Consensus for the May Philly Fed Index was an increase to 10.0 from 8.5 in April. Actual was 16.6..

Cisco gained $1.70 to $54.14 after reporting higher than consensus fiscal third quarter revenues and earnings. The company also raised guidance. MKM Partners raised its target price to $56 from $54. KeyBanc raised its target price to $60 from $58.

Amazon (AMZN $1871.15) is expected to open higher on news that Berkshire Hathaway initiated a position in the stock valued at $900 million.

Wal-Mart added $2.38 to $102.26 after reporting higher than consensus first quarter earnings

Pfizer added $0.25 to $41.40 after Credit Suisse named the stock as a "Top Pick"

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/05/15/stock-market-outlook-for-may-16-2019/

Note seasonality charts on Retail Trade and Industrial Production

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Bearish. Intermediate breakout: $ARE. Breakdowns: $BWA $BDX $WAB $CRM $SEE $NRG.

Editor's Note: After 10:00 AM EDT, no additional intermediate breakouts. Breakdowns: RTN and FDX

Corn ETF $CORN continues to surge on encouraging China/U.S. trade talks

Keyera $KEY.CA moved above $33.29 extending an intermediate uptrend.

CAE Inc. $CAE.CA moved above $31.71 to an all-time high extending an intermediate uptrend.

Restaurant Brands International $QSR $QSR.CA, a TSX 60 stock moved above $90.94 Cdn. and $67.43 U.S. to an all-time high following expansion plans news

US Industrial Production down 2.1% (NSA) in April, weaker than the 1.6% decline that is average for the month. $MACRO #Economy #Manufacturing

Alimentation Couche-Tard $ATD.B.CA, a TSX 60 stock moved above $81.95 to an all-time high extending an intemediate uptrend.

Treasury Bond iShares $TLT moved above $126.15 extending an intermediate uptrend.

TC Energy (formerly TransCanada PipeLines $TRP.CA, a TSX 60 stock moved above $64.46 extending an intermediate uptrend.

CCL Industries $CCL.B.CA, a TSX 60 stock moved above $59.86 extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 15th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for May 15th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 15th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 0.80 to 44.00 yesterday. It remains intermediate neutral and trending down.

TSX Momentum Barometer

The Barometer slipped 0.84 to 46.22 yesterday. It remains intermediate neutral and trending down.

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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