Tech Talk for Thursday December 23rd 2021

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Pre-opening Comments for Thursday December 23rd

U.S. equity index futures were higher at 7:30 AM EST. S&P 500 futures were up 13 points in pre-opening trade.

November Durable Goods Orders to be released at 8:30 AM EST are expected to increase 1.5% versus a decline of 0.4% in October. Excluding transportation orders, November Durable Goods Orders are expected to increase 0.6% versus a gain of 0.5% in October.

November Personal Income to be released at 8:30 AM EST is expected to increase 0.4% versus a gain of 0.5% in October. November Personal Spending is expected to increase 0.6% versus a gain of 1.3% in October.

October Canadian GDP to be released at 8:30 AM EST is expected to increase 0.8% versus a gain of 0.1% in September.

December Michigan Consumer Sentiment to be released at 10:00 AM EST is expected to remain unchanged from November at 70.4.

November New Home Sales to be released at 10:00 AM EST are expected to increase to 767,000 units from 745,000 units in October.

Pfizer gained $0.15 to $59.70 after the FDA approved distribution of the company’s antiviral COVID pill.

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JD.com dropped $24.20 to $255.00 after Tencent announced plans to reduce its share interest in the company from 17.0% to 2.3%. Shares are to be distributed to existing Tencent shareholders.

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EquityClock’s Daily Comment

Following is a link:

http://www.equityclock.com/2021/12/22/stock-market-outlook-for-december-23-2021/

 

Technical Notes released yesterday at

StockTwits.com@EquityClock

The year-to-date change of retail sales in Canada remains record setting, but comparisons are going to be tough to match in the year ahead, potentially resulting in sluggish equity market performance through the first half of 2022. $STUDY $MACRO #CDNecon #CAD #Retail

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Reopening plays snap-back as we prepare for the Santa Claus rally. equityclock.com/2021/12/21/… $JETS $PEJ $XLE $XRT $XLY $STUDY

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Grain ETN (Corn, Soybeans, Wheat) $JJGTF moved above $30.01 resuming an intermediate uptrend.

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Paychex $PAYX a NASDAQ 100 stock moved above $126.82 to an all-time high extending an intermediate uptrend.

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Imperial Oil $IMO.CA a TSX 60 stock moved above $45.20 and $45.32 extending an intermediate uptrend. Seasonal influences are favourable to the first week in March. If a subscriber to EquityClock, see seasonality chart at https://charts.equityclock.com/imperial-oil-limited-tseimo-seasonal-chart

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Dec.22nd 2021

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Green: Increase from previous day

Red: Decrease from previous day

 

Commodities

Daily Seasonal/Technical Commodities Trends for Dec.22nd 2021

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Green: Increase from previous day

Red: Decrease from previous day


Sectors

Daily Seasonal/Technical Sector Trends for Dec.22nd 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).

Links offered by valued providers

Greg Schnell discusses “A bizarre oil market”

The Bizarre Oil Market | Greg Schnell, CMT | Market Buzz (08.11.21) – YouTube

 

Thank you to Mark Bunting and www.uncommonsenseinvestor.com for links to the following:

 

Six Best Cloud Computing Stocks to Buy Now – Uncommon Sense Investor

 

17 Questions to Ask Yourself – Uncommon Sense Investor

 

Be Your Own Investment Composer & Beware Foolish Advice – Uncommon Sense Investor

 

Seasonality Chart of the Day from www.EquityClock.com

Seasonal influences on a real and relative basis for Platinum Futures and related ETN, PPLT are favourable between now and the end of February.

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Technicals have started to improve just as seasonal influences turn favourable. Yesterday, strength relative to the S&P 500 Index changed from Neutral to Positive, futures moved above their 20 day moving average and short term momentum indicators moved higher.

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S&P 500 Momentum Barometers

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The intermediate term Barometer added 3.81 to 57.31 yesterday. It remains Neutral.

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The long term Barometer added 0.40 to 68.34 yesterday. It remains Overbought.

 

TSX Momentum Barometers

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The intermediate Barometer advanced 6.85 to 42.01 yesterday. It changed from Oversold to Neutral on a move above 40.00 and is trending higher.

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The long term Barometer added 2.28 to 55.71 yesterday. It remains Neutral.

 

Holiday Schedule

Tech Talk will appear tomorrow and Monday. Toronto Exchange closes tomorrow at 12:50 PM EST and is closed on Monday and Tuesday. The New York Stock Exchange and NASDAQ Exchanges are open today, but the bond market is closed at 2:00 PM EST. Both exchanges are closed on Friday and are open on Monday and Tuesday.

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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