Technical Notes from yesterday Coca Cola $KO a Dow Jones Industrial Average stock moved below $62.58 completing a double top pattern. Pepsico $PEP a NASDAQ 100 stock moved below $165.27 completing a double top pattern. CVS Health $CVS an S&P 100 stock moved below $95.02 extending an intermediate downtrend. Walgreens Boots $WBA a Dow Jones Industrial Average stock moved below $41.80 extending an intermediate downtrend. Target $TGT an S&P 100 stock moved below $183.24 extending an intermediate downtrend. The company issued lower than consensus first quarter results. Costco $COST an S&P100 stock moved below $467.54 extending an intermediate downtrend. Lululemon $LULU a NASDAQ 100 stock moved below $278.00 extending an intermediate downtrend. PACCAR $PCAR a NASDAQ 100 stock moved below $81.47 extending an intermediate downtrend. Trader’s Corner Equity Indices and Related ETFs Green: Increase from previous day Red: Decrease from previous day Commodities Daily Seasonal/Technical Commodities Trends for May 18th 2022 Green: Increase from previous day Red: Decrease from previous day Sectors Daily Seasonal/Technical Sector Trends for May 18th 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 Ari Wald, Technical Analyst from Oppenheimer says “The bottom has not yet arrived”. Mark Bunting and www.uncommonsenseinvestor.com notes in an interview with John O’Connell “Investors need to know this one key thing” Mark Bunting and www.uncommonsenseinvestor.com asks “Is Elon Musk repeating the mistakes of Henry Ford”? Is Elon Musk Repeating the Mistakes of Henry Ford? – Uncommon Sense Investor Greg Schnell comments on “How to discover a new rally”. S&P 500 Momentum Barometers The intermediate term Barometer plunged 15.63 to 16.63 yesterday. It remains Oversold. Confirmation of a bottom has yet to arrive. The long term Barometer dropped 7.82 to a new recent low at 28.26. It remains Oversold. Trend remains down. TSX Momentum Barometers The intermediate term Barometer dropped 5.80 to 22.71 yesterday. It remains Oversold. Confirmation of a bottom has yet to arrive. The long term Barometer fell 3.22 to 34.06 yesterday. It remains Oversold. Confirmation of a bottom has yet to arrive. 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.