Tech Talk for Friday December 17th 2021

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Pre-opening Comments for Friday December 17th

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

Cerner gained $13.33 to $92.80 on news that Oracle is negotiating purchase of the company in a deal valued at $30 billion.

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FedEx added $14.03 to $252.55 after reporting than consensus fiscal second quarter earnings. The company also announced a $5 billion buyback program

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US Steel dropped $1.18 to $22.27 after the company lowered fourth quarter revenue guidance.

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Darden Restaurants fell $5.33 to $141.80 after the company lowered fiscal 2022 guidance.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/12/16/stock-market-outlook-for-december-17-2021/

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

The defensive bias that is proliferating in this market suggests caution remains warranted. equityclock.com/2021/12/15/… $XLP $XLU $XLV $IYR

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Healthcare Providers $IHF moved above $283.52 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable to the third week in February. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/ishares-u-s-healthcare-providers-etf-nyseihf-seasonal-chart

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BHP Billiton $BHP one of the largest base metals producers in the world moved above $58.46 completing a double bottom pattern. Seasonal influences are favourable to the third week in April. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/bhp-billiton-limited-adr-nysebhp-seasonal-chart

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Gilead $GILD a NASDAQ 100 stock moved above $71.88 extending an intermediate uptrend.

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Exelon $EXC an S&P 100 stock moved above $54.86 to an all-time high extending an intermediate uptrend.

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Mondelez $MDLZ a NASDAQ 100 stock moved above $65.21 to an all-time high extending an intermediate uptrend.

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Southern Companies $SO an S&P 100 stock moved above $66.83 to an all-time high extending an intermediate uptrend.

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Skyworks Solutions $SWKS a NASDAQ 100 stock moved below $144.27 extending an intermediate downtrend.

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Bank of Monteral $BMO.CA a TSX 60 stock moved above Cdn$141.00 to an all-time high extending an intermediate uptrend.

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Dollarama $DOL.CA a TSX 60 stock moved above Cdn$60.81 to an all-time high extending an intermediate uptrend.

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Trader’s Corner

 

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Dec.16th 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for Dec.16th 2021

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Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Dec.16th 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 metals equities and related ETFs (e.g..XBM.TO, PICK, COPX) have a history of moving higher on a real and relative basis between now and the third week in February

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Technical parameters for XBM.TO continue to improve: Intermediate trend is up, strength relative to the S&P 500 Index has just turned positive, units recently moved above their 20, 50 and 200 day moving averages. Daily momentum indicators are trending higher.

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S&P 500 Momentum Barometers

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The intermediate term Barometer added 1.20 to 56.31 yesterday. It remains Neutral.

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The long term Barometer slipped 0.20 to 69.34 yesterday. It remains Overbought.

 

TSX Momentum Barometers

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The intermediate term Barometer slipped 1.19 to 29.55 yesterday. It remains Oversold.

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The long term Barometer added 1.82 to 51.82 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




9 Responses to “Tech Talk for Friday December 17th 2021”

  1. Ron/BC Says:

    Hi Jeff

    Yes there is something very fishy going on with XGD.to.

    https://stockcharts.com/h-sc/ui?s=XGD.TO&p=60&yr=0&mn=3&dy=0&id=p00883259252&a=673066266

  2. Rol Lew Says:

    Tech Talk usually ends each daily report with charts of $SPXA50R and $SPXA200R

    What do they “say” overlaying them on SPX

    https://stockcharts.com/h-sc/ui?s=%24SPXA50R&p=D&yr=1&mn=11&dy=0&id=p24089556641

    https://stockcharts.com/h-sc/ui?s=%24SPXA200R&p=D&yr=1&mn=11&dy=0&id=p21255793381

  3. Ron/BC Says:

    Rol Lew RE:#2

    Looks like trouble ahead to me……………………..

  4. Paula Says:

    Ron/BC,
    Re your #1, what is fishy about the XGD.TO chart? It did not break down as might be expected from the POSSIBLE head and shoulders chart pattern but that is nothing new. Chart patterns don’t always work and false break downs are common precursors to strong rallies. Just wondering what you are thinking?

  5. Ron/bc Says:

    Hi Paula
    Look at #2 post of Lew Rol and you can see the price chart with the 50EMA & 200EMA overlaid and you can see smart money is exiting the broad market (for now). Xgd.to is closely followed so that breakdown shouldn’t be ignored. I just felt “There’s something wrong with this picture.)

  6. Ron/bc Says:

    #5 post should read Rol Lew.

  7. Ron/BC Says:

    The PREmarket is down but that doesn’t guarantee it will be down tomorrow.

    https://www.cnbc.com/pre-markets/

  8. Paula Says:

    Ron/BC
    thanks. Will have a closer look in the morning.

  9. Paula Says:

    Like this site for futures:

    https://finviz.com/futures.ashx

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