Tech Talk for Thursday May 20th 2021

U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade.

U.S. equity index futures were virtually unchanged prior to release of the May Philly Fed Index at 8:30 AM EDT. Consensus was a drop to 44.0 from 50.2 in April.

Cisco dropped $2.52 to $49.95 despite reporting higher than consensus fiscal fourth quarter revenues and earnings. Guidance was less than consensus.

L Brands added $0.07 to $67.38 after reporting higher than consensus first quarter sales and earnings. The company also offered positive guidance.

Kohl's dropped $4.95 to $55.30 despite releasing stronger than expected first quarter results. The company also raised guidance.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/05/19/stock-market-outlook-for-may-20-2021/

U.S. Equity Market comment by Tony Dwyer

A 10% correction could grip stocks through summer, Canaccord's Tony Dwyer warns. Following is a link:

https://www.cnbc.com/2021/05/19/10percent-correction-may-grip-stocks-through-summer-canaccords-tony-dwyer-.html

Technical Notes released at StockTwits.com@EquityClock

Cadence Design Software $CDNS a NASDAQ 100 stock moved below $119.65 completing a double top pattern.

PACCAR $PCAR a NASDAQ 100 stock moved below $88.74 extending an intermediate downtrend

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for May 19th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for May 19th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 19th 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

Market Buzz

Greg Schnell refocuses on "Clean Tech Wreck 2". Following is a link:

https://www.youtube.com/watch?v=JfEZqa7C81Q

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 3.21 to 66.93 yesterday. It remains Overbought and trending down.

The long term Barometer added 0.20 to 90.38 yesterday. It remains Extremely Overbought.

TSX Momentum Barometers

The intermediate Barometer slipped 1.87 to 65.42 yesterday. It remains Overbought and trending down.

The long term Barometer added 0.93 to 77.57 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