Tech Talk for Wednesday May 6th 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:15 AM EDT of the April ADP Employment report. Consensus was a decline of 20.20 million versus a decline of 27,000 in March. Actual was a decline of 20.2 million.

General Motors gained $1.04 to $22.30 after reporting higher than consensus first quarter earnings. The company also announced plans to restart its U.S. operations.

Disney dropped $1.83 to $99.23 after reporting lower than consensus fiscal second quarter earnings. Also, JP Morgan lowered its target price from $140 to $135.

Office Depot gained $0.26 to $2.11 after announcing higher than consensus first quarter revenues and earnings.

CVS Health gained $2.44 to $63.65 after reporting higher than consensus first quarter earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2020/05/05/stock-market-outlook-for-may-6-2020/

Note seasonality chart on Natural Gas

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StockTwits released yesterday @EquityClock

Natural Gas ETN $UNG moved above $14.44 completing a base building pattern. Responding to record low temperatures in the U.S. mid-West and North East

"Gassy" Canadian energy stocks are responding to strength in North American natural gas prices. $AAV.CA

PayPal $PYPL, a NASDAQ 100 stock moved above $125.45 to an all-time high extending an intermediate uptrend.

Teck Resources $TECK.B.CA, a TSX 60 stock moved above $12.47 Cdn. completing a base building pattern.

S&P/TSX Technology iShares $XIT.CA moved above $33.80 to an all-time high extending an intermediate uptrend.

Electronic Arts $EA, a NASDAQ 100 stock moved above $118.69 extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for May 5th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Seasonal/Technical Commodities Trends for May 5th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for May 5th 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 3.21 to 58.32 yesterday. It remains intermediate neutral.

TSX Momentum Barometer

The Barometer gained 6.19 to 61.50 yesterday. It changed from intermediate neutral to intermediate overbought on a move above 60.00.

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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