Technical Notes Editor’s Note: More upside breakouts above 15 day trading ranges! Materials SPDRs (XLB) moved above $53.74 resuming an intermediate uptrend. Pharmaceutical ETF (PPH) moved above $62.16 resuming an intermediate uptrend. Another Semiconductor ETF breakout! SMH moved above $139.36 resuming an intermediate uptrend. S&P/TSX Energy iShares (XEG) moved above $5.25 Cdn. extending an intermediate uptrend. BMO Global Metals ETF (ZMT) moved above $29.21 Cdn resuming an intermediate uptrend. South Korea iShares (EWY) moved above $52.79 resuming an intermediate uptrend. Facebook (FB), one of the FAANG stocks moved above $224.20 to an all-time high extending an intermediate uptrend. Railway stocks on both sides of the border (Canadian Pacific, CSX, Union Pacific) moved above three week trading ranges setting intermediate uptrends. Intel (INTC), a Dow Jones Industrial stock moved above $61.78 ASML (ASML), a NASDAQ 100 stock moved above $317.57 to an all-time high extending an intermediate uptrend. Synopsys (SNPS) a NASDAQ 100 stock moved above $166.87 to an all-time high extending an intermediate uptrend. Analog Devices (ADI), a NASDAQ 100 stock moved above $114.06 resuming an intermediate uptrend. Kinder Morgan (KMI), an S&P 100 stock moved above $15.68 resuming an intermediate uptrend. Comcast (CMCSA), an S&P 100 stock moved above $39.12 resuming an intermediate uptrend. Canadian Forest Product stocks continue to move higher. Canfor (CFP) moved above $10.25 Cdn. extending an intermediate uptrend. Constellation Software (CSU), a TSX 60 stock moved above $1,522.71 to an all-time high extending an intermediate uptrend. Trader’s Corner Equity Indices and related ETFs Daily Seasonal/Technical Equity Trends for May 20th 2020 Green: Increase from previous day Red: Decrease from previous day Commodities Seasonal/Technical Commodities Trends for May 20th 2020 Green: Increase from previous day Red: Decrease from previous day Sectors Daily Seasonal/Technical Sector Trends for May 20th 2020 Green: Increase from previous day Red: Decrease from previous day Greg Schnell’s “Weekly Buzz” Greg asks, “Can cyclicals cycle up”? Following is the link: S&P 500 Momentum Barometer The Barometer added 6.01 to 82.15 yesterday. It remains intermediate overbought. TSX Momentum Barometer The Barometer added another 2.23 to 77.68 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