Tech Talk for Tuesday May 31st 2022

U.S. equity index futures were lower this morning. S&P 500 futures were down 30 points in pre-opening trade.

Investors are watching for news from a meeting today between President Biden, Federal Reserve Chairman Powell and Treasury Secretary Yellen.

The Canadian Dollar slipped 0.10 to US78.83 cents following release of Canada's March GDP report at 8:30 AM EDT. Consensus was an increase of 0.8% versus a gain of 1.1% in February. Actual was an increase of 0.7%. Forecast for April was a gain of only 0.2%.

Yamana Gold added $0.17 to Cdn$6.75 after the company agreed to its purchase by Gold Fields in an all-stock deal valued at US$6.7 billion. Each share of Yamana will transfer into 0.6 shares of Gold Fields

Gap Stores slipped $0.25 to $11.35 after Cowen lowered its target price from$16 to $12.

Zoom advanced $3.42 to $110.42 after Daiwa double upgraded the stock.

EquityClock's Daily Comment

EquityClock says "Whether looking at the Mid-term election year cycle, the 7-year cycle, or the average pattern of stocks for years that end in "2", they all point to significant lows for the market around this time of year". Following is a link:

http://www.equityclock.com/2022/05/28/stock-market-outlook-for-may-31-2022/

Technical Notes yesterday

Nil

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for May 30th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for May 30th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 30th 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 (except TSX)

Links from Valued Providers

Comments over the weekend from Ross Clark, Danielle Park and Mark Leibovit

This Week in Money - HoweStreet

TSX Momentum Barometers

The intermediate term Barometer added 1.32 to 33.92 yesterday. It remains Oversold. Trend is up.

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.