Tech Talk for Tuesday May 16th 2023
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points at 8:35 AM EDT.
Index futures moved lower following release of April U.S. Retail Sales at 8:30 AM EDT. Consensus was an increase of 0.7% versus a drop of 0.6% in March. Actual was an increase of 0.4%. Excluding auto sales, consensus was an increase of 0.3% versus a drop of 0.4% in March. Actual was an increase of 0.4%.
The Canadian Dollar added 0.12 to US74.44 cents following release of Canada's April Canadian Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.5% versus a gain of 0.5% in March. Actual was an increase of 0.7%. On a year-over-year basis, consensus was an increase 4.1% versus a gain of 4.3% in March. Actual was an increase of 4.4% Excluding food and energy, consensus was an increase of 0.5% versus a gain of 0.5% in March. Actual was an increase of 0.5%. On a year-over-year basis consensus was an increase of 4.4% versus a gain of 4.3% in March. Actual was an increase of 4.2%.
Voxx International dropped $2.19 to $9.81 after reporting less than consensus fiscal fourth quarter results.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/05/clip_image0011-7.png "clip_image001[1]")
Capital One advanced $5.21 to $94.33 on news that Berkshire Hathaway has purchased an interest in the company.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/05/clip_image0021-7.png "clip_image002[1]")
Home Depot dropped $7.54 to $281.00 after reporting less than consensus first quarter sales. The company also lowered guidance.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/05/clip_image0031-7.png "clip_image003[1]")
EquityClock's Daily Comment
Headline reads "Manufacturer sentiment and shipping activity continue to attest to a manufacturing economy that is in recession".
http://www.equityclock.com/2023/05/15/stock-market-outlook-for-may-16-2023/
Technical Notes
Lam Research $LRCX a NASDAQ 100 stock moved above $546.87 extending an intermediate uptrend.
Micron $MU a NASDAQ 100 stock moved above $64.36 extending an intermediate uptrend.
Brookfield Infrastructure $BIP a TSX 60 stock moved above US$36.24 extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for May 15th 2023
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for May15th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for May 15th 2023
Green: Increase from previous day
Red: Decrease from previous day
Source for positive seasonal ratings: www.equityclock.com
Links offered by valued providers
Why This Bull Market Is Unrelenting! | Tom Bowley | Your Daily Five (05.15.23)
Editor's Note: Note seasonality comments
Why This Bull Market Is Unrelenting! | Tom Bowley | Your Daily Five (05.15.23) - YouTube
The bull and bear case for stocks, according to T. Rowe Price’s Page and BMO’s Belski
The bull and bear case for stocks, according to T. Rowe Price’s Page and BMO’s Belski - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 0.80 to 48.40. It remains Neutral.
The long term Barometer added 0.80 to 49.60. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer added 3.88 to 56.90. It remains Neutral.
The long term Barometer was unchanged at 59.91. It remains Neutral.
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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