Tech Talk for Friday December 14th 2018

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Morning (Pre-opening) Comments for Friday December 14th

U.S. equity index futures were lower this morning. S&P 500 futures were down 27 points in pre-opening trade.

Index futures were virtually unchanged following release of November Retail Sales at 8:30 AM EST. Consensus was an increase of 0.2% versus an upwardly revised gain of 1.1% in October. Actual was an increase of 0.2%.

The Shanghai Composite Index dropped 40 points to 2,594 after China’s November industrial output and retail sales were reported below consensus.

Tesla (TSLA $376.79) is expected to open higher after Wedbush upgraded the stock to Outperform. Target is $440.

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Starbucks (SBUX $66.91) is expected to open lower after the company lowered long term guidance.

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Costco (COST $226.51) is expected to open lower after the company reported lower than consensus fiscal first quarter sales and earnings.

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Adobe (ADBE $) is expected to open lower after reporting lower than consensus fiscal fourth quarter revenues.

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EquityClock’s Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/12/13/stock-market-outlook-for-december-14-2018/

Note seasonality chart on the TSX Composite Index

 

StockTwits Released Yesterday @EquityClock

Silver equity ETF $SIL moved above $24.38 completing a double bottom pattern.

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Editor’s Note: ‘Tis the season for strength in Silver and Silver equities to the end of February!

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Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout: $KMB. Breakdown: $HBI

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Editor’s Note: After 10:00, no additional breakouts. Breakdowns: HOG, MAT, WDC, NUE, ROL and CHRW.

Shanghai Composite $SSEC closed last night at 2634, nicely above its 20 and 50 day moving averages. An encouraging sign for trade negotiations? Nice pop in $FXI

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‘Tis the season for strength in the Shanghai Composite Index to May! $SSEC $FXI

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Trader’s Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 13th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for December 13th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for December 13th 2018

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Green: Increase from previous day

Red: Decrease from previous day

 

S&P 500 Momentum Barometer

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The barometer dropped 3.40 to 31.00 yesterday. It remains intermediate oversold.

 

TSX Momentum Barometer

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The barometer slipped 2.89 to 32.23 yesterday. It remains intermediate oversold.

 

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http://www.equityclock.com/about/seasonal-advantage-portfolio/

 

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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13 Responses to “Tech Talk for Friday December 14th 2018”

  1. rocketdave Says:

    Is anyone as bearish as i am?
    my guess $spx to 2300…

  2. Ron/BC Says:

    Ana
    #4 Thursday.

    I’ve been homeless most of the week while the floor layers replace my carpet with laminate flooring. Seems to take forever. So I’ve just been hanging around the local malls etc during the day. And I can’t go out to my partner’s condo as I need to be around during the work from time to time. And as far as the song goes we are wise enough to enjoy each other’s company without living together. We both agree on that. So both of us can make all the decisions we wish on our homes and lives without “COMPROMISING” every decision. You must be able to appreciate that. Just finishing the floors now and I’ve got to refinish the baseboards once again. This type of thing never ends…………….. Nice to get the computer back after playing around with all the wiring.

  3. tony Says:

    Rocketdave

    I’ve got rid of everything that was in my trading account in the last week of october.

    I bought 50 shares of the following three names su, mfc and atd,on the 23rd of november simply to see what the market was going to do. so I’ll wait till I feel I can make some money on dividends before going long.

  4. tony Says:

    Rocketdave

    Trading account is all in $$$, since october 30th,
    bought some SU, MFC and ATD for my RRSP around the 23rd of november for RRSP.

    trading account will stay in cash until this market shows some positive sign and that’s not with a 15% in one day. it will have to follow my trading strategy

  5. Ana Says:

    #1. rocketdave,

    That is quite the name. Why do you call yourself rocketdave?

    My estimate at the moment is 2568 right now.

  6. rocketdave Says:

    Is anyone trading right now?
    I like to get in to a bear ETF like HSD.to but it needs to close above the previous high of 4.54…

  7. Ana Says:

    #2. Ron/BC

    What type of laminate are you installing? I really like Bruce Flooring.

    The song is “Your Song” by Elton John.

    Good idea on the separate homes, go with whatever works. Yes, I do appreciate that compromise is a difficult task.

    Good luck with the renovation.

  8. Ron/BC Says:

    Ana
    The Laminate is Toucan ( Designer’s EIR Collection) which is 12mm thick and has a hardness of 4 which can be used in commercial areas as well. A hardness grade of 3 is typical residential flooring which is also often thinner than 12 mm. I got a good deal on it and am happy with how it looks. The flooring and paint supplies plus a new Kitchen light is what I figured a winter holiday would cost. So I decided to forget the winter holiday and “trade it in” for the partial reno. So far it looks like a good trade. Always like a good trade,lol. The weather is still ok here as well despite the rain on many days but the golf courses are still open and are busy with dedicated golfers. I like Elton John’s music but it does tend to be sad music.

  9. Ana Says:

    #6. rocketdave,

    I trade S & P Futures on a daily basis.

    I am trading volatility with an etf.

  10. Ron/BC Says:

    Here is the $SPX again. Price is testing the 2580 ‘area’ once again. Can’t keep testing support or it will breakdown. The reason being is each time tested you see a rally and when that rally fails to hold and price comes back down again traders/investors are not so eager to get long at support again with the rallies failing each time. But at the same time “Buying Support & Selling Resistance” is a good basic plan. Support doesn’t always hold but you know that quickly when it fails and quickly exit taking a small loss AND if brave enough get short as well. I prefer to just exit a breakdown of support and watch to see if the breakdown holds to consider any short sales.

    https://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p47072074541&a=582707024

  11. Ana Says:

    $SPX $ES

    The head and shoulder target was complete at 2612.

    I am trying to calculate the target from the triangle now, an approximate 2527.

  12. rocketdave Says:

    #9. Ana,

    What etf do you use?

  13. Kam Says:

    Ana,

    Did you start trading futures lately, I didn’t know. I have account to trade but I try not to lately, upset stomach. Will wait for that 21-2200 mark before buying again.

    Hi folks,

    re- SPX,

    Cash is the name of the game. We might c 2480 before Santa comes or just drag around here. EW thinks they will jack it towards 2700-2750 first to distribute. Da boys/girls have more inventory to unload before pulling the plug.

    IMHO opinion, stay in cash ladies and gents. This thing has been running for last 9 yrs If it looks like some stocks are a bargain then just have a peak at the Nasdaq long term chart, There will be lot more deals next yr and if we have no more dry powder to buy that will be really sad. Lets try to stay with the smart money. Later
    http://schrts.co/UUrUPA

    Haven’t talked to her for long time but I hope Slave likes this. She loves to short and time is here.

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