Tech Talk for Thursday December 21st 2023

Daily Reports Add comments

Pre-opening Comments for Thursday December 21st

U.S. equity index futures were higher this morning. S&P 500 futures were up 34 points at 8:35 AM EST.

S&P 500 Index futures added 10 points following release of economic news at 8:30 AM EST. Consensus for the updated annualized U.S. third quarter real GDP was unchanged at 5.2%.

Actual was a slip to 4.9%. Consensus for the December Philly Fed Index was -3.0 versus -5.9 in November. Actual was -10.5.

Micron gained $3.41 to $82.10 after reporting higher than consensus first quarter revenues. The company also raised guidance.

clip_image001[1]

Boeing added $0.66 to 260.91 on news that the company is close to resuming delivery of 737 aircraft to China.

clip_image002[1]

AutoZone gained $64.66 to $2,662.00 after the company announced authorization to buy back additional shares valued at $2 billion.

clip_image003[1]

 

Technical Notes

Water Resources ETF $PHO moved above $60.41 to an all-time high extending an intermediate uptrend.

clip_image001

CVS Health $CVS an S&P 100 stock moved above $76.72 completing a double bottom pattern.

clip_image002

Alphabet breakouts: $GOOG moved above $142.38 and $GOOGL moved above $141.22 extending an intermediate uptrend.

clip_image003

clip_image004

Illumina $ILMN a NASDAQ 100 stock moved above $141.60 extending an intermediate uptrend.

clip_image005

Corn ETN $CORN moved below $21.53 extending an intermediate downtrend.

clip_image006

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Dec.20th 2023

clip_image008

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for Dec.20th 2023

clip_image010

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for Dec.20th 2023

clip_image012

Green: Increase from previous day

Red: Decrease from previous day

 

Links offered by valued providers

Sprott Uranium Report: Uranium & Nuclear Get Boost from COP28

Sprott Uranium Report: Uranium & Nuclear Get Boost from COP28

 

Top Five Charts of 2023 #2: Ten Year Treasury Yield | The Final Bar (12.19.23)

Top Five Charts of 2023 #2: Ten Year Treasury Yield | The Final Bar (12.19.23) – YouTube

 

Top Five Charts of 2023 #3: Market Breadth Indicators | The Final Bar (12.20.23)

Top Five Charts of 2023 #3: Market Breadth Indicators | The Final Bar (12.20.23) – YouTube

 

We won’t see much economic growth early next year: BMO’s economist

We won’t see much economic growth early next year: BMO’s economist – YouTube

Greed Grips the Market + FedEx Fails to Deliver + Carter Charts Micron & Nike

Greed Grips the Market + FedEx Fails to Deliver + Carter Charts Micron & Nike – YouTube

 

Dave Landry’s TFM 10% System: Analyzing Market Highs and Crypto Fire! | Your Daily Five (12.20.23)

Dave Landry’s TFM 10% System: Analyzing Market Highs and Crypto Fire! | Your Daily Five (12.20.23) – YouTube

 

S&P 500 Momentum Barometers

clip_image013

The intermediate term Barometer dropped 5.40 to 85.60. It remains Overbought. Daily data moved lower.

clip_image014

The long term Barometer dropped 6.40 to 72.20. It remains Overbought. Daily data moved lower.

 

TSX Momentum Barometers

clip_image015

The intermediate term Barometer dropped 5.73 to 70.04. It remains Overbought. Daily data moved lower.

clip_image016

The long term Barometer dropped 3.52 to 55.07. It remains Neutral. Daily data moved lower.

 

Disclaimer: Seasonality ratings 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




Comments are closed.

Entries RSS Comments RSS Log in