Tech Talk for Thursday May 2nd 2019

Equity indices moved lower

Bond prices moved lower

U.S. Dollar Index moved higher

The VIX Index spiked.

Observations

Rough day for base metal and base metal stock prices on a breakdown by copper! Also, breakdowns by Freeport McMoran Copper & Gold and First Quantum.

Cramer on Mad Money

He noted after the close last night that equity traders should "take money off the table" Following is a link:

www.cnbc.com/2019/05/01/cramer-weve-had-a-terrific-run-its-time-to-trim-some-positions.html

StockTwits Released Yesterday @EquityClock

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout:$RCL Breakdowns: $GRMN $EIX

Editor's Note: After 10:00 AM EDT, intermediate breakouts included BXP, CVS, KR, ADM and FE. Breakdowns included CLX, FCX and APA.

Platinum ETN $PPLT moved below $82.88 setting an intermediate downtrend

‘Tis the time for Platinum to reach a seasonal peak! $PPLT $PLAT

U.S. Aerospace & Defense ETF $ITA moved above $210.71 extending an intermediate uptrend

Cdn oil service stocks remain under technical pressure. Calfrac Well Services $CFW.CA moved below $3.08 extending downtrend

First Quantum Minerals $FM.CA moved below $13.84 completing a double top pattern.

Editor's Note: Freeport McMoran Copper and Gold also had a rough day.

First Trust Natural Gas ETF $FCG moved below $16.61 setting an intermediate downtrend

S&P Metals and Mining SPDRs $XME moved below $29.52 setting an intermediate downtrend.

Encana $ECA $ECA.CA, a TSX 60 stock moved below $6.73 U.S. and $9.01 Cdn.setting an intermediate downtrend

Steel ETF $SLX moved below $38.22 setting an intermediate downrend

US Construction Spending up 8.7% (NSA) in March, weaker than 10.9% increase that is average for this time of year $MACRO #ConstructionSeason

Palladium ETN $PALL moved below $125.57 completing a Head & Shoulders pattern.

Another Canadian "gassy" stock breakdown! Crew Energy moved below $1.08.

Trader's Corner

Note changes in Seasonality rankings!

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 1st 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for May 1st 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 1st 2019

Green: Increase from previous day

Red: Decrease from previous day

Markets, Commodities and Sectors Reaching Their Seasonal Peak Near This Time Of Year

S&P 500 Momentum Barometer

The Barometer dropped 6.00 to 67.40 yesterday. It remains intermediate overbought and rolling over.

TSX Momentum Barometer

The Barometer plunged 7.41 to 50.64 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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