Tech Talk for Wednesday May 27th 2020

U.S. equity index futures were higher again this morning. S&P 500 futures were up 33 points in pre-opening trade.

Disney gained $2.80 to $123.75 after announcing plans to re-open its Orlando, Florida properties.

Novavax added $0.67 to $48.84 after announcing start of first phase clinical testing of its coronavirus vaccine.

Bank of Montreal and Royal Bank are expected to open lower after releasing lower than consensus fiscal second quarter earnings

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/05/26/stock-market-outlook-for-may-27-2020/

Note seasonality charts on the Case/Shiller 20 City Home Price Index.

Technical Notes

The S&P 500 Index tried, but failed to close above the technically important 200 day moving average.

Canadian Dollar moved above US 72.18 cents setting an intermediate uptrend.

Selected S&P 100 stocks moved above recent trading ranges setting an intermediate uptrend: Ford, Morgan Stanley, General Dynamics, Emerson Electric, CVS Health, Goldman Sachs.

Selected NASDAQ 100 stocks moved above recent trading ranges setting an intermediate uptrend: FOX, FOXA, DLTR, PCAR, MCHP, MXIM

Oil Services ETF (OIH) moved above $115.71 setting an intermediate uptrend.

Agribusiness ETf (MOO) moved above $56.51 setting an intermediate uptrend.

Industrial SPDRs (XLI) moved above $$66.22 setting an intermediate uptrend.

U.S. Health Providers iShares (IHF) moved above $196.90 setting an intermediate uptrend.

Dow Jones Transportation Average iShares (IYT) moved above $155.60 setting an intermediate uptrend.

Auto ETF (CARZ) moved above $28.84 setting an intermediate uptrend.

Natural Gas Equity ETF (FCG) moved above $7.82 setting an intermediate uptrend.

U.S. Broker/Dealer iShares (IAI) moved above $59.51 setting an intermediate uptrend.

Eurozone ETF (EZU) moved above $33.10 setting an intermediate uptrend. Also, Europe iShares (IEV) moved above $38.14 setting an intermediate uptrend.

Brazil ETF (EWZ) moved above $57.97 completing a base building pattern

Dow Jones Industrial iShares (DIA) moved above $247.18 setting an intermediate uptrend.

Russell 2000 iShares (IWM) moved above $136.85 setting an intermediate uptrend.

Europe Asia & Far East iShares (EFA) moved above $57.97 setting an intermediate uptrend.

S&P Equal Weighted ETF (RSP) moved above $99.15 setting an intermediate uptrend.

Barrick Gold (ABX.TO), a TSX 60 stock moved below $35.28 setting an intermediate downtrend.

Metro (MRU.TO), a TSX 60 stock moved below $56.18 setting an intermediate downtrend.

Magna International (MG.TO), a TSX 60 stock moved above $57.07 moved above $59.49 setting an intermediate uptrend.

Canadian Imperial Bank of Commerce (CM.TO), a TSX 60 stock moved above $87.70 setting an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 26th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for May 26th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 26th 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer gained 7.82 to 90.58 yesterday. It reached an extremely overbought level, but has yet to show signs of peaking.

TSX Momentum Barometer

The Barometer jumped 11.16 to 89.29 yesterday. It reached an extremely overbought level, 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

Sponsored By...