Tech Talk for Wednesday May 26th 2021

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade.

Urban Outfitters gained $1.64 to $36.60 after reporting higher than consensus first quarter sales and earnings.

Toll Brother added $0.28 to $62.30 after reporting higher than consensus fiscal second quarter revenues and earnings.

Nordstrom dropped $1.60 to $34.88 after reporting lower than consensus first quarter revenues and earnings.

Corn futures and the corn Exchange Traded Note dropped almost 4% on news that corn plantings in the U.S. are higher than average this spring.

Bank of Montreal (BMO $123.60) is expected to open higher after reporting higher than consensus fiscal second quarter earnings.

Union Pacific (UNP $221.94) is expected to open higher after the company announced an accelerated share buyback program valued at $2 billion.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/05/25/stock-market-outlook-for-may-26-2021/

Technical Notes released yesterday at StockTwits.com@EquityClock

EAFE iShares $EFA moved above $80.67 to an all-time high extending an intermediate uptrend. Most of the gains came from strength in European and Chinese equities.

Morgan Stanley China A shares $CAF moved above $23.17 to an all-time high extending their intermediate uptrend. Responding to exceptional strength overnight in Chinese equity indices and related equities.

Analog Devices $ADI a NASDAQ 100 stock moved above $163.90 to an all-time high extending an intermediate uptrend.

ASML Holdings $ASML a NASDAQ 100 stock moved above $673.68 to an all-time high extending an intermediate uptrend.

Saputo $SAP.CA a TSX 60 stock moved above Cdn$40.63 extending an intermediate uptrend. Announced two small acquisitions.

Brookfield Asset Management $BAM.A.CA a TSX 60 stock moved above Cdn$60.13 to an all-time high extending a long term uptrend

Observation on U.S. Treasury Prices

7-10 year Treasury iShares closed at a 13 week closing high yesterday

Treasury Inflation Protected iShares (TIPs) closed at an all-time closing high yesterday

Both have a high negative correlation with the U.S. Dollar Index and its related ETN that is testing an intermediate low.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for May 25th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for May 25th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 25th 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 Barometers

The intermediate term Barometer slipped 1.00 to 72.75 yesterday. It remains Overbought.

The long term Barometers slipped 0.40 to 91.38 yesterday. It remains Extremely Overbought.

TSX Momentum Barometers

The intermediate Barometer slipped 1.41 to 62.85 yesterday. It remains Overbought.

The long term Barometer eased 0.94 to 77.93 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