Tech Talk for Thursday December 24th 2020

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Pre-opening Comments for December 24th

U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.

The British Pound moved higher on news that the United Kingdom and Europe are set to announce a Brexit trade deal.

Alibaba dropped $8.76 to $247.42 after the Chinese government launched an anti-trust probe on the company. On the charts, the stock moved below $252.55 completing a modified Head & Shoulders pattern.

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North American equity markets are scheduled to close today at 1:00 PM EST

Next report will be released on Monday December 28th

Wolf on Bay Street

Don Vialoux was a guest on the “Wolf on Bay Street” show on Radio 640. The interview is released at 7:30 PM on Saturday. Focus was on the U.S. Presidential Cycle, the Santa Claus
Rally, the Santa Claus Hangover and participation in Far East markets. Following is a link:

https://globalnews.ca/radio/640toronto/player

 

Technical Notes for Wednesday December 23rd

Financial SPDRs (XLF) moved above $28.86 extending an intermediate uptrend.

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BMO Equal Weight Global Base Metals ETF (ZMT) moved above $50.16 extending an intermediate uptrend.

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Seasonal influences are positive on a real and relative basis until the end of February. See:

https://charts.equityclock.com/bmo-sptsx-equal-weight-global-base-metals-hedged-to-cad-index-etf-tsezmt-to-seasonal-chart

Chip.com (TCOM), a NASDAQ 100 stock moved below $32.50 completing a double top pattern.

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Seasonal influences are negative on a real and relative basis from mid-November to mid-February. See:

https://charts.equityclock.com/ctrip-com-intl-ltd-nasdtcom-seasonal-chart

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 23rd 2020

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Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 23rd 2020

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 23rd 2020

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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 dipped 0.80 to 77.96 yesterday. It remains intermediate overbought.

 

TSX Momentum Barometer

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The Barometer added 0.93 to 71.96 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




One Response to “Tech Talk for Thursday December 24th 2020”

  1. Bernie Says:

    Merry Christmas to the Vialoux families and to all TTM bloggers past and present!

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