Tech Talk for Tuesday December 5th 2017

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Pre-opening Comments for Tuesday December 5th

U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.

Index futures were virtually unchanged following release of the October U.S. Trade Deficit report. Consensus was $47.1 billion versus $43.5 billion in September. Actual was $48.7 billion.

The Canadian Dollar added 0.04 to US 79.16 following release of Canada’s October Merchandise Trade report. Consensus was a drop in the deficit to $2.9 billion from a deficit of $3.2 billion in September. Actual was a deficit of $1.47 billion.

Autozone gained $37.23 to $747.00 after reporting higher than consensus fiscal first quarter sales and earnings.

Bank of Montreal (BMO $99.59 Cdn) is expected to open lower despite increasing its quarterly dividend as expected. Fiscal fourth quarter earnings reported this morning were lower than consensus.

Biogen (BIIB $317.40 is expected to open higher after RBC Capital raised its target price to $205 from $186.

Hanesbrands (HBI $21.15) is expected to open higher after Oppenheimer raised its target price to $26 from $22.

EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2017/12/04/stock-market-outlook-for-december-5-2017/

Note seasonality charts on the Technology sector, Russell 3000 and Manufacture’s New Orders

StockTwits Released Yesterday @EquityClock

Uranium stocks sharply higher triggered by Cameco breakout: $CCJ $CCO.CA $URA

Editor’s note: Producers in Kazakhstan (world’s largest producers) decided to reduce production by 20%.

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Technical action by S&P 500 stocks to 10:00: Bullish. Breakouts: $RL $AAP $MPC $FLR $PWR $OI $CL $DVA $DAL $JBHT $DTE. Breakdowns: $TMO $GPN

Editor’s Note: After 10:00 AM EST, breakouts included AZO, BBBY, CBS, CMG, OI, FRT,DISH and MPC. Breakdowns included MU, MA, MTD, A, DLR and A. Technology stocks dominated the list of stocks breaking intermediate support.

Maple Leaf Foods $MFI.CA moved above $35.29 to an all-time high extending an intermediate uptrend.

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Laurentian Bank $LB.CA moved above $60.87 to an all-time high extending an intermediate uptrend.

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Trader’s Corner

Daily Seasonal/Technical Equity Trends for December 4th 2017

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Green: Increase from previous day

Red: Decrease from previous day

 

Daily Seasonal/Technical Commodities Trends for December 4th 2017

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Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts

 

Daily Seasonal/Technical Sector Trends for December 1st 2017

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Green: Increase from previous day

Red: Decrease from previous day


http://www.valuetrend.ca/wp-content/uploads/2015/02/valuetrend_logo.jpg

Metals

Metals

December 4, 2017 by Keith Richards

 
 
 
 


 

Thank You

Thank you to Tech Talk followers who “paid it forward” by contributed to Wellspring, our favourite charity. Following is a comments released by the Wellspring co-ordinator…

 

“On behalf of everyone at Wellspring, the staff , the Light up Volunteer Committee and most of all the members that we help, we THANK You.
From the countess hours selling ,sorting , pricing, lifting, lugging, cooking, baking, asking, sponsoring wreaths and bulbs,  YOU contributed to ensuring our event was a successful one.  We are delighted to share that although some folks still need to pick up some auction items we raised $$ 56,000 and we still have some things to sell this week!!  We are humbled by your level of giving to Wellspring… this was once the little event that could… and it sure did and more !!

We have to acknowledge the countless hours our volunteer committee put into this event.  They are a  small but mighty group of passionate volunteers that knocked this event out of the park!!

With gratitude to all of the volunteers at Wellspring, we THANK YOU!!

Oh what a night!!  It took a Village!!

FEELING ALL LIT UP WITH JOY!!”

Susy Borges Santos  l  Centre Manager – Wellspring Birmingham Gilgan House

t: 905-257-1988l  www.wellspring.ca

 

S&P 500 Momentum Barometer

The Barometer dropped 5.20 to 73.40 yesterday. It remains intermediate overbought.

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TSX Momentum Barometer

The Barometer dropped 5.81 to 47.72 yesterday. It has declined to intermediate neutral and trending down.

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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

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7 Responses to “Tech Talk for Tuesday December 5th 2017”

  1. Larry/ON Says:

    Cdn Banks – Once earnings are in that is the end of the late year seasonally favourable period. Probably not a lot in the way of gains for the next two months.

  2. Ron/BC Says:

    The Gold stock ETF:XGD.to has pulled back to a double bottom being the July low at $11.53. If this is tax loss selling due to a poor performance this ‘could be’ a price low that holds as seasonal trends do tend to be bullish from mid December into February. Here is the Equity Clock seasonal chart for ABX which is a major component of XGD.to.

    http://stockcharts.com/h-sc/ui?s=XGD.TO&p=D&yr=1&mn=0&dy=0&id=p32904654665&a=469547255

    http://charts.equityclock.com/barrick-gold-corp-tseabx-seasonal-chart

  3. Polish1 Says:

    http://stockcharts.com/h-sc/ui?s=GDX&p=D&yr=0&mn=6&dy=0&id=p52188346163&a=299281167&listNum=61

    The gold area is dead money, GDX continues lower after losing trendline support yesterday

  4. Sandra Says:

    Hi Ron/BC:
    I am thinking of buying a small position Telus T.TO for dividends. Ex-Div on Dec.8 and has room to run as target has been increased.
    Can you please look at the chart?
    Thanks!

  5. Ron/BC Says:

    Sandra
    Not at a computer now. Just finished golfing. Will look later.

  6. Ron/BC Says:

    Sandra
    T.to has a nice uptrend. Closing support is about $47 with the longer term uptrendline support at $45.50. A short uptrendline is in the middle. Being a Utility stock I have saved this symbol with two ratio charts above that compares T.to to FTS.to and BCE.to. You can see that FTS.to has performed much the same as T.to over the past year but underperformed FTS.to over the last 3 years. But T.to has been outperforming BCE.to. Can’t speak for the earnings,dividends or fundamental stories on them,just the chart. I did notice that the RSI 8 has a good track record of signalling price lows on the stock when below 30 and recrossing again. So has the Stochastics when matching up with the RSI 8. A price pullback to $47 would be what I would insist on and preferably to $45.50 but being fussy one misses a lot of trades as well. That shouldn’t bother anyone as there are thousands of stocks to choose from all year round. So why not be fussy and insist on waiting for your price instead of chasing prices. But as usual draw your own conclusions based on whatever your priorities are with the stocks.

    http://stockcharts.com/h-sc/ui?s=T.TO&p=D&yr=2&mn=0&dy=0&id=p72376539016&a=502812062

    http://stockcharts.com/h-sc/ui?s=T.TO&p=D&yr=9&mn=0&dy=0&id=p96886798971&a=532616940

  7. Sandra Says:

    Ron/BC:
    Thanks for our comments yesterday.
    In Globe today about Telus:
    Telus (T)

    Price: $47.67
    Yield: 4.2%

    With wireless data usage continuing to grow, smartphone penetration increasing and immigration bringing in a steady supply of customers, the long-term outlook for the wireless industry is very favourable, Mr. Anzovino says. Telus Corp. is also benefiting from rebounding economic growth in Western Canada and from the lowest customer turnover or “churn” rate in the industry, thanks to its strong customer service. Recent results have been solid: The company added 152,000 cellphone, internet and TV accounts in the third quarter . The company also increased its dividend by about 2.5 per cent – its second increase of the year – bringing total dividends declared in 2017 to $1.97 a share, up 7.1 per cent from $1.84 in 2016. And there’s likely more to come: Telus aims to continue increasing its dividend twice a year at an annualized rate of 7 per cent to 10 per cent through 2019.

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