Observation Higher natural gas prices led the Commodity sector on the upside yesterday. Scary chart! Short term technicals suggest that the U.S. economy has not reached a credit cycle peak yet, but a peak is on the horizon. Stay tuned Source: www.haver.com, www.gluskinsheff.com, www.mauldineconomics.com StockTwits released yesterday @EquityClock Technical action by S&P 500 stocks to 10:15: Quietly bullish. Intermediate breakouts: $NFX $SYF $ESRX. No breakdowns. Editor’s note: After 10:15 AM EDT, breakouts included KIM, DO, AXP, COL and BEN. Break down: LUV TSX Financials iShares $XFN.CA moved above intermediate resistance at $38.24 Regional Banking SPDRs $KRE moved above $65.12 to an all-time high extending an intermediate uptrend. Toronto Dominion Bank $TD.CA, a TSX 60 stock moved above $75.53 to an all-time high extending an intermediate uptrend. CAE Inc. $CAE.CA moved above $25.13 to an all-time high extending an intermediate uptrend. Bonavista Energy $BNP.CA, a “gassy” stock moved above $1.74 extending an intermediate uptrend on higher natural gas prices. American Express $AXP, a Dow Jones Industrial stock moved above $102.96 to an all-time high extending an intermediate uptrend. Eldorado Gold $ELD.CA $EGO moved above $1.33 Cdn. extending an intermediate uptrend. Nice pop in natural gas prices today, up $0.09 per MBtu! $UNG $NATGAS. ‘Tis the season for strength to mid-June. Trader’s Corner Daily Seasonal/Technical Equity Trends for May 22nd 2018 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Commodities Trends for May 22nd 2018 Green: Increase from previous day Red: Decrease from previous day Daily Seasonal/Technical Sector Trends for May 22nd 2018 Green: Increase from previous day Red: Decrease from previous day Keith Richards’ Blog Keith talks about gold. See link: http://www.valuetrend.ca/gold-breaks-1300-a-buying-opportunity/ Editor’s Note: Seasonality study shows that likely timing to enter the trade is late July. Stay tuned! S&P 500 Momentum Barometer The Barometer slipped 1.20 to 62.20 yesterday. It remains intermediate overbought. TSX Composite Momentum Barometer The Barometer eased 0.82 to 71.19 yesterday. It remains intermediate overbought. 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