Tech Talk for Friday May 29th 2020

U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Investors are waiting for a comment by President Trump on his policy on China.

Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for April Personal Income was a drop of 5.6% versus a decline of 2.0% in March. Actual was an increase of 10.5%. Consensus for April Personal Spending was a drop of 7.5% versus a decline of 7.5% in March. Actual was a drop of 13.6%

The Canadian Dollar was virtually unchanged at US 72.81 cents following release Canada's March GDP report at 8:30 AM EDT. Consensus was a month-over month decrease of 9.0% versus a gain of 0.1% in February. Actual was a decrease of 7.2%

Laurentian Bank is expected to open lower after reducing its quarterly dividend by 40%.

Costco dropped $6.67 to $302.89 after announcing higher than consensus third quarter costs related to the coronavirus.

Salesforce.com dropped $5.95 to $175.15 after lowering second quarter guidance below consensus.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/05/28/stock-market-outlook-for-may-29-2020/

Note seasonality chart on U.S. Durable Goods Orders.

Technical Notes

Alexion Pharma (ALXN), a NASDAQ 100 stock moved above $111.99 setting an intermediate uptrend.

UnitedHealth Group (UNH), a Dow Jones Industrial stock moved above $304.00 to an all-time high extending an intermediate uptrend.

U.K iShares (EWU) moved above $26.11 setting an intermediate uptrend.

Canadian National Railway (CNR), a TSX 60 stock moved above $118.98 extending an intermediate uptrend.

Lockheed Martin (LMT), an S&P 100 stock moved above $402.45 setting an intermediate uptrend.

FedEx (FDX), an S&P 100 stock moved above $131.80 extending an intermediate uptrend.

NextEra Energy (NEE), an S&P 100 stock moved above $250.87 setting an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 28th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for May 28th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 28th 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer advanced 1.80 to an all-time high at 95.99 yesterday. It remains extremely intermediate overbought, but has yet to show signs of peaking.

TSX Momentum Barometer

The Barometer added 0.89 to 90.62 yesterday. It remains extremely intermediate overbought, but has yet to show signs of peaking.

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

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