Tech Talk for Friday December 22nd 2017

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Pre-opening Comments for Friday December 22nd

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.

Index futures were virtually unchanged following release of U.S. economic news at 8:30 AM EST. Consensus for November Personal Spending was an increase of 0.4% versus a gain of 0.3% in October. Actual was an increase of 0.6%. Consensus for November Personal Income was an increase of 0.4% versus a gain of 0.4% in October. Actual was an increase of 0.3%. Consensus for November Durable Goods Orders was an increase of 0.2% versus a decline of 0.8% in October. Actual was an increase of 1.3%. Excluding Transportation, consensus for November Durable Goods Orders was an increase of 0.3% versus a gain of 0.9% in October. Actual was a decline of 0.1%.

The Canadian Dollar dipped slightly following release of the Canadian October GDP report. Consensus was a year-over-year gain at a 3.5% rate. Actual was growth at a 3.4% rate. Growth in October was unchanged from September versus a consensus gain of 0.2%.

Merck added $0.16 to $56.76 and Pfizer gained $0.03 to $36.27 after the FDA approved their latest diabetes drug.

Allstate (ALL $104.21) is expected to open higher after MKM Partners raised its target price to $120 from $110.

Nike slipped $1.57 to $63.20 after reporting lower than expected North American sales.

EquityClock’s Daily Market Comment

Following is a link:


Next Tech Talk report

It will be released on Wednesday December 27th

Don Vialoux on Market Call Tonight

Mr. Vialoux is the guest analyst this evening at 5:30 PM EST on Market Call Tonight


StockTwits Released Yesterday @EquityClock

More base metal stocks and ETF breakouts: $RIO $COPX. ‘Tis the season for strength to end of April!



Commerce Bank $CM.CA, a TSX 60 stock moved above $122.56 to all-time high extending an intermediate uptrend.


TransCanada PipeLine $TRP.CA, a TSX stock moved below $61.25 setting intermediate downtrend.


Technical action by S&P 500 stocks to 10:00 Mixed. Breakouts: $HLT $CVX $FTI $GWW $NTRS $MAS. Breakdowns: $BBBY $CNP $D $DTE $PCG

Editor’s Note: After 10:00 AM EST, breakouts included APC, FBHS, CMCSA, DO, GT CXO, MRO, NOV, SLB and NTRS. Breakdowns included AVB, MAA, UDR and DLR.

Chevron $CVX, a Dow Jones Industrial stock moved above $122.30 to all-time high extending an intermediate uptrend.


AltaGas $ALA.CA moved below $28.60 completing a double top pattern.


Another oil services stocks breaks out! Schlumberger $SLB moved above $65.48. ‘Tis the season for strength to the end of April!


Oil services ETF $OIH moved above $25.54 completing a reverse Head & Shoulders pattern.


Junior Gold ETF $GLDX moved above $33.01 setting intermediate uptrend. ’Tis the season for strength to the end of February.


Steel ETF $SLX moved above $44.26 to a 5 year high extending an intermediate uptrend.


Exxon Mobil $XOM, a Dow Jones Industrial stock moved above $84.18 extending an intermediate uptrend.


Real Estate Investment Trusts (REITs) continue to break down with higher interest rates: $AVB $MAA $UDR


Philly Fed Survey showing +19.7 (NSA) for December, best read for the month since 1993. #Manufacturing $MACRO


Canada CPI higher by 0.3% last month, lifting the year-to-date change above the seasonal average trend. #CDNecon #CAD $MACRO



Trader’s Corner

Daily Seasonal/Technical Equity Trends for December 21st 2017


Green: Increase from previous day

Red: Decrease from previous day


Daily Seasonal/Technical Commodities Trends for December 21st 2017


Green: Increase from previous day

Red: Decrease from previous day

* Excludes adjustment from rollover of futures contracts


Daily Seasonal/Technical Sector Trends for December 21st 2017


Green: Increase from previous day

Red: Decrease from previous day


S&P Momentum Barometer

The Barometer slipped 0.20 to 73.00 yesterday. It remains intermediate overbought.



TSX Momentum Barometer

The Barometer slipped 0.83 to 58.69 yesterday. It remains intermediate overbought.



Disclaimer: Seasonality and technical ratings offered in this report and at 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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34 Responses to “Tech Talk for Friday December 22nd 2017”

  1. Sandra Says:

    Thank you for posting the charts yesterday.

    I own CNQ-N and appears has some room to go unlike CNQ-TO you posted that is at resistance.
    Do you buy ETFS? Is it better to buy one that is doing best of its holding or just ETF.

    Never bought ETF. So ANYONE willing to share their experience? Thanks!

  2. Larry/ON Says:

    Bitcoin Down 40% Today
    Cryptocurrencies: “I think it is perfectly asinine to even pause to think about them.” – Charlie Munger

  3. JP/BC Says:


    At the risk of stating the obvious, an ETF is like a cross between a mutual fund and a stock. They trade like a stock but hold several companies like a mutual fund. Like a mutual fund they have a theme that can be an index, geographic location or sector. Because they are generally passive (they aren’t managed) the MERs are usually much lower than a mutual fund. Having said that, there are now managed ETFs (like HAC). If you buy an ETF make sure it has enough liquidity (enough shares being traded). Because ETFs are usually passive there isn’t much stock turnover, so unlike a mutual fund, you seldom have to declare capital gains until you sell them.

    I have bought/sold mutual funds many times. I like the idea that I can sell them any time during trading hours. If you sell a mutual fund, if you sell you only get the closing price. For some mutual funds you pay a penalty for selling in the first year. Not so for ETFs.

  4. Larry/ON Says:

    Trading halted for Bitcoin on Coinbase marketplace. The suckers now can’t get out of the exit door.

  5. Ron/BC Says:

    JP/BC explained it well in post #3. Anything can happen with a single stock to trash it. Even being so successful it takes over another company investors may think they paid too much and put the company heavily in debt so the stock sells off. An ETF holds a basket of a selection of stocks and while any one having issues can cause the ETF to pull back it won’t trash it like a single stock. Much like buying a bag of apples. One bad one wont ruin your plans to bake a pie as you have the rest that are basically ok. And an ETF can be bought and sold instantly unlike a Mutual Fund and be any combination of sectors you choose as there is so many. The high volume ones are on the NYSE. And I’ve been told not to expect to sell your fund anytime soon as they are intended to be multi year investments. (And they like to keep your money as well.) Like your CNQ. This long term chart shows price trying to clear $34 resistance and having difficulty. It might do it or may selloff too. Notice the extreme price moves of 2 to 4 times its reversal prices off each high or low. Not a stock you want to be wrong in direction with. And the price action has a lot to do with the value of the CD$ as well comparatively. Questrade where I have my trading accounts also have most of the Funds like other brokerages but they have their own that are invested in ETFs. “WHEN” the markets selloff to a sensible level I will be putting some cash into a Questrade Fund of theirs that are made up with ETFs. They like the other Funds out there they have about 5 or 6 funds with the risk levels being High,Med.High, Medium, Medium Low and Low risk. They call them Aggressive, Growth, Balanced, Income and Conservative. As an example the Aggressive Fund (High Risk) of theirs returned 12.49%, 8.20% and 11.40% over a 1yr, 3yr & 5yr. period. Their Balanced Fund (60% Equity/40% Fixed Income) and labeled Med Risk returned 7.20%, 5.78% 7.85% during the same period. Their Growth Fund labeled Med-High Risk earned about 1% higher. So that’s something to think about. But they don’t expect you to day trade their Funds either. I might have a problem with that but they’ll just have to deal with it,lol. But with all the ETFs especially on the NYSE that cover all the Sectors with high volume you can choose your own fund and manage it if it doesn’t rattle you. Meanwhile I would not be comfortable with CNQ and would not hold it just because it has a dividend anymore than I’d go somewhere with a stranger just because he gave me a beer.

  6. Bernie Says:


    Orrrr…you could create your own ETF by adding stocks you choose yourself. The greater the number in your portfolio, the greater the safety. I suggest keeping content to no greater than a 5% weighting per stock. By crafting your own ETF you have the option of removing that “bad apple” from the bag. You don’t have that ability with an ETF. The trading cost of creating your stock portfolio is higher than purchasing an ETF initially but its clear sailing from there if you’re holding long term. Also no management fees to worry about with stocks.

  7. Ron/BC Says:

    You just reminded me of something that has always concerned me about keeping each stock in your portfolio down to 5%. Your strong stocks will automatically become more than 5% of the portfolio as they will outperform the average or weaker stocks in that portfolio. So what is one supposed to do, sell off the strong stocks when over 5% of the portfolio and keep the average or weaker stocks? It’s something that I’ve always wondered about. Not that I have that problem,lol……………

  8. Ron/BC Says:

    Here is a “potentially bullish” chart for all you Brookfield fans. Price is close to $27 support within a $4 channel just looking for a reason to breakout above its downtrendline.

  9. Ron/BC Says:

    Anyone know why broke out and then plunged below its breakout point? Almost bought this stock and this reversal did catch me by surprise. Perhaps it was earnings etc. If someone can post a site where CD stocks shows the next earnings dates please do. The site I did have doesn’t seem to post earnings dates anymore. Seems like every place using electronics continue to change their format. Can’t even use a self serve machine at a grocery store without it constantly changing the software forcing you to relearn the new system. I guess they’ve never heard of the saying “IF it ain’t broke don’t fix it.”

  10. Bernie Says:

    An equal weighted fully utilized stock portfolio with 5% weightings equates to 20 positions. I have 38 stocks in mine with very little cash. Two are half weighted at close to 1.5% each, the others vary from 2.4% to 3.1% in weighting. My number of holdings has varied over the years as have my weightings. I don’t have a firm rule in place but I have trimmed my positions at times when their size grew out of proportion to the other constituents. With the proceeds I either added to create new positions or added to holdings with small weightings. I don’t like to call my holdings weaker or stronger. Stocks can have good years or bad, some are more cyclical than others. If one continues to “behave badly” or cuts their dividend I can and have turfed them from the portfolio. You don’t have this power with stocks in an ETF. There you have to rely on and pay management to fix the problem. I prefer to be my own management.

  11. Ron/BC Says:

    With an ETF its the ‘collective’ response of the ETF that I track so am not concerned about one stock in it unless the others are spooked and start to follow it,causing the entire ETF to fall. So if that happens I just dump the ETF and get on another similar one without that particular stock or particular part of that Sector that is under performing. I don’t hesitate to exit any of of them. And I’m not concerned about small management fees with the ETFs as long as the ETF is doing well. Lots of ways to skin the cat it seems.

  12. Ron/BC Says:

    Here is a chart of TECK on the NYSE bumping up against major price resistance and very overbought. Price needs to clear and hold above $26 turn this major price resistance area into price support.

  13. roy Says:

    #8 Ron/BC – Thanks for the heads up on BPU.un. Been holding it for a while and collecting the dividend,but the stock has not done too much in a while. Maybe now we could see some upwards price movement.

  14. Bernie Says:


    Re: #11
    Yes, many different ways to invest or trade. Hopefully, we all find the course that we feel comfortable with and stick to our plan.

  15. Bernie Says:

    I may not be checking in here or commenting much over the Christmas season so I’d like to take this moment to wish all bloggers, viewers and management on “Timing the Market” a very Happy Christmas and holiday season! Be safe!

  16. Tech Talk Says:

    To you too Bernie. Happy Holidays and a Merry Christmas to all!

  17. Ron/BC Says:

    Bernie & others posting and lurking here including TECH TALK staff.

    Merry Christmas and all the very best in health and life ahead.

  18. Brad Says:


    Bmo downgraded FR to underperform with a price target of $7.50

  19. Paul R Says:

    Merry Christmas and a prosperous New Year to every one.

  20. roy Says:

    Merry Christmas and a happy and healthy 2018 from our family to yours.

  21. Kam Says:

    Marry Xmas and Happy Holidays to all of you guys and Tech talk.

    I don’t know what is this fear mongering and pretty much having mental stimulus from pain endured by traders be it coin traders today.It could be anyone else tomorrow too. If there is some substance in the postings then go ahead and short bitcoin in Futures market.
    Symbols are GXBT and BRR.

  22. Sherri Says:

    Merry Christmas and Happy New Year to everyone!
    Thanks for everyone’s contributions over the past year.

  23. Neil/Ab Says:

    I also wish a happy holiday season (and beyond) to everyone but especially and with thanks to Don, Jon and their team, again, for the hard work and insightful comments provided here and for continuing to support this forum.

  24. FishFat Says:

    Merry Christmas everyone and a special thanks to the team at Tech Talk and Equity Clock for yet another year of outstanding insights and guidance.

  25. David Says:

    Merry Christmas to Tech Talk and to all you bloggers. Awesome site…may we all have a successful new year and a very prosperous one.

  26. Rol Lew Says:

    Merry Christmas To All Tech-Talkers!!

  27. Muntazir Says:

    Merry Christmas & Happy New Year to ALL.


    Thanks for the phoning tip

  28. Vik Says:

    Merry Christmas + Happy holiday to everyone !! Hope 2018 brings plenty of peace and profits to you all 😉

  29. LonyJ Says:

    Merry Christmas all.
    Lurker Lonnie

  30. Ana Says:

    Merry Christmas and Happy New Year!

    Sending much gratitude to Tech Talk and to Equity Clock!

    “May you be blessed and a blessing be!”

  31. Pat/Vic Says:

    Merry Christmas and Happy New Year to everyone
    this forum has been great !
    Lots of very useful knowledge and different perspectives…Thank you!

  32. Ana Says:

    Bob Dylan – Must Be Santa

  33. NRG Says:

    Merry Christmas to Tech Talk and all the contributors to this fine website.

  34. tony Says:

    merry xmas to Don and his family,

    merry xmas to all tech talkers.

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