Tech Talk for Friday December 10th 2021

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Pre-opening Comments for Friday December 10th

U.S. equity index futures were higher this morning. S&P 500 futures were up 28 points in pre-opening trade.

Index futures moved higher following release of the November U.S. Consumer Price Index at 8:30 AM EST. Consensus is that November CPI was an increase of 0.7% versus a gain of 0.9% in October. Actual was an increase of 0.8%. Excluding food and energy, consensus was an increase of 0.5% versus a gain of 0.6% in October. Actual was an increase of 0.5%.

Broadcom jumped $32.58 to 616.00 after the company reported higher than consensus quarterly revenues and earnings. The company also announced a $10 billion share buyback program.

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Costco gained $7.17 to $531.50 after reporting higher than consensus quarterly revenues and earnings.

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Oracle advanced $8.38 to $97.15 after reporting higher than consensus fiscal second quarter revenues and earnings. The company also announced a $10 billion share buyback program and offered positive guidance.

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Chewy dropped $4.80 to $51.50 after reported lower than consensus quarterly earnings.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/12/09/stock-market-outlook-for-december-10-2021/

Jim Cramer’s 2022 Game Plan

https://www.cnbc.com/video/2021/12/09/jim-cramer-shares-his-2022-game-plan-and-best-stock-ideas-with-the-cnbc-investing-club.html

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

CVS Health $CVS an S&P 100 stock moved above $96.57 to an all-time high extending an intermediate uptrend. Seasonal influences on a real and relative basis are favourable to mid-May. If a subscriber to EquityClock, see: https://charts.equityclock.com/cvs-caremark-corporation-nysecvs-seasonal-chart

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Couche Tard $ATD.CA a TSX 60 stock moved above Cdn$52.30 to an all-time high extending an intermediate uptrend. Seasonal influences on a real and relative basis are favourable to the beginning of March. If a subscriber to EquityClock, see: https://charts.equityclock.com/alimentation-couche-tard-inc-tseatd-b-seasonal-chart

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Dec.9th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for Dec.9th 2021

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Dec.9th 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

Seasonal influences on a real and relative basis for U.S. Healthcare SPDRs are favourable to mid-January in anticipation of good news at the annual JP Morgan Healthcare conference in San Francisco. The 2022 conference is held between January 10th and January 13th .

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Units have a positive technical profile. Intermediate trend is neutral, but units recently moved above their 20 and 50 day moving average and daily momentum indicators (Stochastics, RSI, MACD are trending higher. Yesterday, units began to outperform the S&P 500 Index. A move above $135.34 and $136.56 will attract technical buying.

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S&P 500 Momentum Barometers

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The intermediate term Barometer dropped 5.61 to 58.12 yesterday. It changed from Overbought to Neutral on a drop below 60.00.

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The long term Barometer eased 0.60 to 69.94 yesterday. It remains Overbought.

 

TSX Momentum Barometers

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The intermediate term Barometer slipped 1.84 to 39.17 yesterday. It changed from Neutral to Oversold on a move below 40.00.

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The long term Barometer dropped 4.15 to 53.00 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




One Response to “Tech Talk for Friday December 10th 2021”

  1. Larry/ON Says:

    MSFT – Nice to see it back above 340. Beautiful chart. Monthly R1 resistance level is at 344.92 which is more or less where MSFT topped out in November. We probably see it churn a little but if market direction is up it will punch through and we are looking at dare I say a 360 target with R2 at 359.24.

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