Tech Talk for Wednesday May 15th 2019

U.S. equity index futures were lower this morning. S&P 500 futures were down 19 points in pre-opening trade.

Index futures moved lower following release of economic news at 8:30 AM EDT. Consensus for April Retail Sales was an increase of 0.2% versus a gain of 1.7% in March. Actual was a decline of 0.2%. Excluding auto sales, consensus for April Retail Sales was an increase of 0.7% versus a gain of 1.2% in March. Actual was an increase of 0.1% Consensus for the May Empire State Manufacturing Survey was a drop to 8.2 from 10.1 in April. Actual was an increase to 17.8.

The Canadian Dollar slipped 0.06 to 74.14 cents U.S. following release of Canada's April Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.4% versus a gain of 0.7% in March. Actual was an increase of 0.4%. On a year-over-year basis consensus for the April Consumer Price Index was an increase of 2.0% from 1.9% in March. Actual was 2.0%.

Tilray (TLRY $48.74) is expected to open higher after reporting higher than consensus first quarter sales. Bank of Montreal upgraded the stock to Market Perform from Underperform.

Agilent (A $76.01) is expected to open lower after reporting lower than consensus fiscal second quarter sales and earnings.

Lowe's (LOW $105.75) is expected to open higher after Oppenheimer raised its target price to $135 from $125.

Home Depot (HD $191.62) is expected to open higher after Oppenheimer raised its target price to $215 from $200.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/05/14/stock-market-outlook-for-may-15-2019/

China/U.S. Trade Resolution Hopes?

StockTwits released yesterday @EquityClock

Technical action by S&P 500 stocks to 10:30: Quiet. Intermediate breakouts: $AMT $SRE. No breakdowns

Norbord $OSB.CA moved below $31.43 extending an intermediate downtrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 14th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for May 14th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 14th 2019

Green: Increase from previous day

Red: Decrease from previous day

Keith Richard's Blog

Keith asks, "Trade negotiations also a trading opportunity for the stock market"? See

https://www.valuetrend.ca/china-trade-negotiations-also-a-trading-opportunity-for-the-stock-market/

S&P 500 Momentum Barometer

The Barometer gained 7.20 to 43.80 yesterday. It returned to intermediate neutral from intermediate oversold on a move back above 40, but continues to trend down.

TSX Momentum Barometer

The Barometer added 1.28 to 44.54 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

Sponsored By...