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.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/12/clip_image0011-10.png "clip_image001[1]")
FedEx added $14.03 to $252.55 after reporting than consensus fiscal second quarter earnings. The company also announced a $5 billion buyback program
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/12/clip_image0021-9.png "clip_image002[1]")
US Steel dropped $1.18 to $22.27 after the company lowered fourth quarter revenue guidance.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/12/clip_image0031-8.png "clip_image003[1]")
Darden Restaurants fell $5.33 to $141.80 after the company lowered fiscal 2022 guidance.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2021/12/clip_image0041-3.png "clip_image004[1]")
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
The defensive bias that is proliferating in this market suggests caution remains warranted. equityclock.com/2021/12/15/… $XLP $XLU $XLV $IYR
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
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
Gilead $GILD a NASDAQ 100 stock moved above $71.88 extending an intermediate uptrend.
Exelon $EXC an S&P 100 stock moved above $54.86 to an all-time high extending an intermediate uptrend.
Mondelez $MDLZ a NASDAQ 100 stock moved above $65.21 to an all-time high extending an intermediate uptrend.
Southern Companies $SO an S&P 100 stock moved above $66.83 to an all-time high extending an intermediate uptrend.
Skyworks Solutions $SWKS a NASDAQ 100 stock moved below $144.27 extending an intermediate downtrend.
Bank of Monteral $BMO.CA a TSX 60 stock moved above Cdn$141.00 to an all-time high extending an intermediate uptrend.
Dollarama $DOL.CA a TSX 60 stock moved above Cdn$60.81 to an all-time high extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Dec.16th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Dec.16th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Dec.16th 2021
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
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.
S&P 500 Momentum Barometers
The intermediate term Barometer added 1.20 to 56.31 yesterday. It remains Neutral.
The long term Barometer slipped 0.20 to 69.34 yesterday. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer slipped 1.19 to 29.55 yesterday. It remains Oversold.
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
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December 17th, 2021 at 12:33 pm
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
December 19th, 2021 at 4:12 am
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
December 19th, 2021 at 1:50 pm
Rol Lew RE:#2
Looks like trouble ahead to me……………………..
December 19th, 2021 at 3:50 pm
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?
December 19th, 2021 at 4:35 pm
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.)
December 19th, 2021 at 4:39 pm
#5 post should read Rol Lew.
December 19th, 2021 at 7:38 pm
The PREmarket is down but that doesn’t guarantee it will be down tomorrow.
https://www.cnbc.com/pre-markets/
December 19th, 2021 at 10:47 pm
Ron/BC
thanks. Will have a closer look in the morning.
December 19th, 2021 at 10:50 pm
Like this site for futures:
https://finviz.com/futures.ashx