Tech Talk for Tuesday May 4th 2021

Solar ETF (TAN) moved below $80.80 extending an intermediate downtrend.

Peloton (PTON), a NASDAQ 100 stock moved below $94.00 completing a Head & Shoulders pattern.

Applied Materials (AMAT), a NASDAQ 100 stock moved below $128.31 completing a double top pattern.

Pembina Pipelines (PPL), a TSX 60 stock moved above $38.33 extending an intermediate uptrend.

Bausch Health (BHC), a TSX 60 stock moved below $35.17 extending an intermediate downtrend.

Pre-opening Comments for Tuesday May 4th

U.S. equity index futures were lower this morning. S&P 500 futures were down 22 points in pre-opening trade. Index futures responded to news that a Chinese military aircraft entered Taiwan's air space.

Index futures were virtually unchanged following release of the March Trade Report at 8:30 AM EDT. Consensus was a deficit of $74.50 billion versus a deficit of $71.10 billion in February. Actual was a deficit of $74.4 billion.

The Canadian Dollar was virtually unchanged at US81.07 cents following release of Canada's March Trade Balance at 8:30 AM EDT. Consensus was a surplus of $550 million versus a surplus of $1.1 billion in February. Actual was a deficit of $1.1 billion

Pfizer (PFE) gained $0.59 to $40.25 after reporting higher than consensus first quarter revenues and earnings. The company also raised guidance.

Suncor (SU.TO Cdn$26.93) is expected to open higher after reporting higher than consensus first quarter revenues and earnings.

Mosaic dropped $1.29 to $33.74 despite reporting higher than consensus first quarter revenues and earnings.

Nutrien eased $0.45 to US$55.55 despite reporting higher than consensus first quarter revenues and earnings.

EquityClock's Daily Comment

Following is a link:
http://www.equityclock.com/2021/05/03/stock-market-outlook-for-may-4-2021/

Technical Notes for Monday May 3rd

BMO Cdn. Energy ETF (ZEO) moved above $38.25 extending an intermediate uptrend.

U.S. Aerospace and Defense iShares (ITA) moved above $106.96 extending an intermediate uptrend.

FedEx (FDX), an S&P 100 stock moved above $304.18 to an all-time high extending an intermediate uptrend.

AbbVie (ABBV), an S&P 100 stock moved above $111.74 to an all-time high extending an intermediate uptrend.

Charter Communications (CHTR), a NASDAQ 100 stock moved above $681.71 to an all-time high extending an intermediate uptrend.

Verisigm (VRSN), a NASDAQ 100 stock moved above $221.78 to an all-time high extending an intermediate uptrend.

Restaurants International (QSR), a TSX stock moved above Cdn$86.21 extending an intermediate uptrend.

Canadian "gassy" stocks are moving higher. Freehold Royalties (FRU) moved above $8.04 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for May 3rd 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for May 3rd 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 3rd 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

S&P 500 Momentum Barometer

The intermediate term Barometer added 1.00 to 85.57 yesterday. It remains Extremely Overbought.

The long term Barometer was unchanged yesterday at 94.79. It remains Extremely Overbought.

TSX Momentum Barometer

The intermediate Barometer added 7.87 to 73.37 yesterday. It remains Overbought.

The long term Barometer slipped 0.61 to 77.89 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