Responses to the FOMC announcement At 2:00 PM EDT, the FOMC announced a 0.50% increase in the Fed Fund Rate to 1.00% (as expected) and reduction in the Balance Sheet by $95 billion per month starting on June 1st (as expected. Market responses after 2:00 PM EDT were as follows: The S&P 500 soared repeating a pattern set by the previous three announcements. Long term government bond yields dropped. The U.S. Dollar Index plunged The Canadian Dollar soared. Gold bullion prices and related ETFs moved higher Gold equity prices and related ETFs moved higher Technical Notes released yesterday at StockTwits.com@EquityClock The rise in factory inventories through the first quarter of this year has been the strongest in a decade, suggesting that, as consumer momentum slows, there is simply too much “stuff.” equityclock.com/2022/05/03/… $STUDY $MACRO #Economy #Manufacturing Natural Gas ETN $UNG moved above $28.15 extending an intermediate uptrend. Homebuilders SPDRs $XHB moved above $65.02 completing a double bottom pattern. MMM $MMM a Dow Jones Industrial Average stock moved above $153.26 completing a double bottom pattern. Exxon Mobil $XOM a Dow Jones Industrial Average stock moved above $91.50 extending an intermediate uptrend. Emerson Electric $EMR an S&P 100 stock moved below $86.27 extending an intermediate downtrend. Restaurant Brands International $QSR.CA a TSX 60 stock moved below Cdn$67.67 extending an intermediate downtrend. Thomson Reuters $TRI.CA a TSX 60 stock moved below Cdn$123.08 extending an intermediate downtrend Constellation Software $CSU.CA a TSX 60 stock moved below Cdn$1,994.04 extending an intermediate downtrend. IAMGold $IMG.CA broke below Cdn$3.06 extending an intermediate downtrend following company guidance. Trader’s Corner Equity Indices and Related ETFs Daily Seasonal/Technical Equity Trends for May 4th 2022 Green: Increase from previous day Red: Decrease from previous day Commodities Daily Seasonal/Technical Commodities Trends for May 4th 2022 Green: Increase from previous day Red: Decrease from previous day Sectors Daily Seasonal/Technical Sector Trends for May 4th 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 offered by Valued Providers Comments from Mark Bunting and www.uncommonsenseinvestor.com "The Vacuum Effect" of the U.S. Dollar – Uncommon Sense Investor The Trouble for Big Tech Stocks in Two Charts – Uncommon Sense Investor Greg Schnell asks “Is a market rally starting”? S&P 500 Momentum Barometers The intermediate term Barometer surged 19.84 to 48.90 yesterday. It changed from Oversold to Neutral on a move above 40.00. The long term Barometer added 5.01 to 43.09 yesterday. It changed from Oversold to Neutral on a move above 40.00. TSX Momentum Barometers The intermediate term Barometer advanced 8.64 to 32.73 yesterday. It remains Oversold. The long term Barometer added 3.18 to 50.91 yesterday. It remains Neutral. 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.