Tech Talk for Tuesday May 28th 2024
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points at 8:30 AM EDT.
Apple added $3.22 to $193.20 following news that iPhone sales in China have exceeded expectations.
Bank of Nova Scotia (BNS.TO Cdn$65.59) is expected to open higher after releasing higher than consensus fiscal second quarter earnings
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0025-3.png "clip_image002[5]")
Insmed jumped $29.04 to $51.04 after reporting positive data from a drug trial.
US Cellular advanced $3.52 to $46.50 after announcing sale of its wireless operations to T-Mobil for $4.4 billion.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/05/clip_image0045-3.png "clip_image004[5]")
EquityClock Outlook for Tuesday May 28th
The withdrawal of liquidity from the market is presenting a headwind to equity prices moving forward.
See: https://equityclock.com/2024/05/27/stock-market-outlook-for-may-28-2024/
Technical Notes
The TSX Composite Index has a history of reaching a seasonal peak in the first week of June.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for May 24th 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 May 24th 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for May 27th 2024
Green: Increase from previous day
Red: Decrease from previous day
Link offered by a valued provider
Larry Berman was on BNN yesterday discussing "Sell in May and go away" and "The U.S. Presidential Cycle"
https://www.bnnbloomberg.ca/video/larry-berman-s-educational-segment~2929445
TSX Momentum Barometers
Intermediate term Barometer added 1.79 to 60.09. It returned to Overbought from Neutral on a move 60.00.
Long term Barometer was unchanged at 68.16. 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
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