Tech Talk for Thursday May 9th 2024
U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points at 8:30 AM EDT.
Bank of England decided to maintain its current rate of interest to borrowers.
Robinhood Markets advanced $0.80 to $18.65 after reporting higher than consensus first quarter revenues and earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0011-3.png "clip_image001[1]")
Air BNB dropped $12.40 to $145.50 after lower revenue guidance
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0021-3.png "clip_image002[1]")
ARM Holdings fell $7.77 to $98.30 after offering guidance below consensus.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0031-3.png "clip_image003[1]")
Trade Desk added $1.46 to $87.48 after reporting higher than consensus first quarter earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0041-3.png "clip_image004[1]")
Technical Notes
Utilities SPDRs XLU moved above $70.25 to a 15 month high extending an intermediate uptrend.
Texas Instruments $TXN an S&P 100 stock moved above $182.35 to a 30 month high extending an intermediate uptrend.
Match Group $MTCH a NASDAQ 100 stock moved below $27.85 to a six year low extending an intermediate downtrend.
Electronic Arts $EA a NASDAQ 100 stock moved below $125.11 extending an intermediate downtrend.
Shopify $SHOP.TO a TSX 60 stock moved below Cdn$93.85 completing a Head & Shoulders pattern. Responding to a less than consensus outlook. Weakness triggered a move by TSX Technology Index (XIT.TO) below $51.10 extending an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for May 8th 2024
Green: Increase from previous day
Red: Decrease from previous day
Source for all positive seasonality ratings: www.EquityClock.com
Commodities
Daily Seasonal/Technical Commodities Trends for May8th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for May 8th 2024
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Bear Flag Forming in S&P 500? David Keller
Bear Flag Forming in S&P 500? - YouTube
Is This The Next Leg of the Bull Market?! Tom Bowley
Is This The Next Leg of the Bull Market?! - YouTube
What Rising Volatility Means to the Current Market: Joe Rabil
What Rising Volatility Means to the Current Market - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 1.60 to 51.20. It remains Neutral.
The long term Barometer slipped 0.60 to 75.40. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 3.42 to 65.02. It remains Overbought.
The long term Barometer added 2.99 to 70.40. It remains Overbought.
Disclaimer: Seasonality ratings 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
| More from the network: |