Tech Talk for Wednesday December 30th 2020

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Morning Technical Notes for Wednesday December 30th

Starbucks (SBUX), an S&P 100 stock moved above $106.09 to an all-time high extending an intermediate uptrend.

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Pre-opening Comments for Wednesday December 30th

U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade. Index futures are responding partially to news that the United Kingdom has authorized the emergency use of AstraZeneca’s COVID 19 vaccine.

Caterpillar gained $0.93 to $177.58 after Baird selected the stock as its top 2021 idea.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2020/12/29/stock-market-outlook-for-december-30-2020/

Technical Notes for Tuesday December 29th

Apple (AAPL), a Dow Jones Industrial Average stock moved above $137.74 to an all-time high extending an intermediate uptrend.

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Canadian Pacific (CP), a TSX 60 stock moved above $444.49 to an all-time high extending an intermediate uptrend.

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Franco-Nevada (FNV), a TSX 60 stock moved below $162.21 extending an intermediate downtrend.

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ConocoPhillips (COP), an S&P 100 stock moved below $38.83 completing a double top pattern.

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 29th 2020

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for December 29th 2020

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Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for December 29th 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 slipped 0.60 to 80.76% yesterday. It remains extremely intermediate overbought.

 

TSX Momentum Barometer

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The Barometer dropped 1.64 to 70.89 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 Wednesday December 30th 2020”

  1. Larry/ON Says:

    Copper miners doing well. FCX finally made a major break higher.
    Semis waking up – It’s been almost a month of sideways trade.
    CAD – resumed trend higher after a brief retracement to the area it broke out from around 77.25.
    USD weakness will be a long-term trend IMO.

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