Tech Talk for Wednesday May 5th 2021

Global Base Metals iShares moved above $18.89 to an all-time high extending an intermediate uptrend.

Rio Tinto (RIO), one of the world's largest base metal producers moved above $88.74 to an all-time high extending an intermediate uptrend.

Globex Uranium ETF (URA) moved above $20.95 extending an intermediate uptrend.

Verizon (VZ), a Dow Jones Industrial Average stock moved above $58.84 extending an intermediate uptrend.

Pre-opening Comments for Wednesday May 5th

U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade.

General Motors gained $1.77 to $57.11 after reporting higher than consensus first quarter revenues and earnings.

Loblaw (L Cdn$68.22) is expected to open higher after reporting higher than consensus revenues and earnings.

Barrick Gold (ABX Cdn$ 27.06) is expected to open higher after reporting higher than consensus first quarter revenues and earnings.

Home Depot added $0.83 to $333.60 after Wells Fargo raised its target price from $330 to $360.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2021/05/04/stock-market-outlook-for-may-5-2021/

Technical Notes for Tuesday May 4th

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

Crude oil ETN (USO) moved above $44.64 extending an intermediate uptrend.

Gasoline ETN (GASO) moved above $2.15 per gallon extending an intermediate uptrend.

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.

PACCAR (PCAR), a NASDAQ 100 stock moved below $89.61 extending an intermediate downtrend.

Zoom (ZM), a NASDAQ 100 stock moved below $302.32 extending an intermediate downtrend.

Activision Blizzard (ATVI) moved below $88.63 completing a Head & Shoulders 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.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for May 4th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for May 4th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 4th 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 dropped 5.81 to 79.75 yesterday. It changed from Extremely Overbought to Overbought on a move below 80.00.

The long term Barometer slipped 1.00 to 93.79 yesterday. It remains Extremely Overbought and trending down.

TSX Momentum Barometers

The intermediate term Barometer dropped 3.52 to 69.85 yesterday. It remains Overbought and trending down.

The long term Barometer slipped 1.00 to 76.88 yesterday. It remains Overbought and showing early signs of rolling over.

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