Tech Talk for Wednesday December 8th 2021

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Pre-opening Comments for Wednesday December 8th

U.S. equity index futures were higher this morning. S&P 500 futures advanced 10 points following news that Pfizer’s COVID 19 vaccine was effective against the Omicron variant.

The Bank of Canada is scheduled to release an update on Canada’s monetary policy at 10:00 AM EST. Consensus calls for no change at 0.25% in the overnight lending rate to major banks.

Toll Brothers added $0.26 to $71.50 after the company reported higher than consensus fiscal fourth quarter revenues and earnings.

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Raytheon Technologies advanced $1.99 to $87.00 after the company announced a $6 billion share buyback plan.

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Campbell Soup slipped $0.22 to $40.90 after the company reported lower than consensus fiscal first quarter earnings.

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Dollarama (DOL Cdn$57.51) is expected to open higher after reporting higher than consensus third quarter earnings.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/12/07/stock-market-outlook-for-december-8-2021/

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

Home Builders SPDRs $XHB moved above $85.13 to an all-time high extending an intermediate uptrend.

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Intel $INTC a Dow Jones Industrial Average stock moved above $85.13 completing a double bottom pattern. Responding to news of a partial spin off of Mobileye.

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BHP Billiton $BHP one of the world’s largest base metal producers moved above $58.46 completing a double bottom pattern. Seasonal influences on a real and relative basis are favourable between now and mid-April. If a subscriber to EquityClock, see: charts.equityclock.com/bhp-…

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Restaurant Brands International $QSR.CA a TSX 60 stock moved above Cdn$75.25 completing a double bottom pattern.. Seasonal influences on a real and relative basis are favourable to the end of February. If a subscriber to EquityClock, see:charts.equityclock.com/rest…

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Bitcoin is pressuring long-term rising trendline support, a level that warrants scrutiny to assure that the prospect of a double-top below $65,000 does not materialize. equityclock.com/2021/12/06/… $BTC.X $BTC $GBTC $BTC_F

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Fiserv $FISV a NASDAQ 100 stock moved above $104.77 completing a double bottom pattern. Seasonal influences on a real and relative basis are favourable to the end of February. If a subscriber to EquityClock, see: https://charts.equityclock.com/fiserv-inc-nasdaqfisv-seasonal-chart

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Starbucks $SBUX a Dow Jones Industrial Average stock moved above $116.97 resuming an intermediate uptrend. Seasonal influences on a real and relative basis are favourable until late April. If a subscriber to EquityClock, see: charts.equityclock.com/star…

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Dec.7th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for Dec.7th 2021

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Green: Increase from previous day

Red: Decrease from previous day


Sectors

Daily Seasonal/Technical Sector Trends for Dec.7th 2021

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Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX).

 

Seasonality Chart of the Day from www.EquityClock.com

Base metal ETFs and stocks like Billiton have just entered into a real and relative period of seasonal strength lasting to mid-April

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S&P 500 Momentum Barometers

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The intermediate term Barometer added another 12.02 to 63.13 yesterday. It changed from Neutral to Overbought on a move above 60.00.

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The long term Barometer gained another 3.41 to 69.94 yesterday. It remains Overbought.

 

TSX Momentum Barometers

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The intermediate term Barometer added 6.28 to 43.78 yesterday. It changed from Oversold to Neutral on a move above 40.00.

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The long term Barometer added 2.97 to 58.53 yesterday. It remains Neutral.

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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