Pre-opening Comments for Friday December 29th
U.S. equity index futures were mixed this morning. S&P 500 futures unchanged at 8:30 AM EST.
UnitedHealth Group added $3.10 to 528.00 after booking a $7 billion charge following a deal to sell its Brazil operations.
Jabil slipped $0.58 to $127.40 after lowering its fiscal second quarter outlook.
Expedia added $0.90 to $154.18 after Ascendiant Capital raised its target price from $133 to $168.
Next Tech Talk report
Next report is to be released next year (!) On Tuesday, January 2nd, 2024. Monday is a holiday in most equity markets.
Technical Notes
Lithium ETN $LIT moved above intermediate resistance at $51.00.
McDonald’s $MCD a Dow Jones industrial Average stock moved above $295.98 to an all-time high extending an intermediate uptrend.
Amgen $AMGN an S&P 100 stock moved above $286.21 to an all-time high extending an intermediate uptrend.
Citigroup $C an S&P 100 stock moved above $51.55 extending an intermediate uptrend.
Early technical signs of encouragement by Chinese equities/related ETFs?
FXI moving above $23.82 completing a short term double bottom pattern!
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Dec.28th 2023
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.28th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Dec.28th 2023
Green: Increase from previous day
Red: Decrease from previous day
Link offered by a valued provider
David Rosenberg: Why the so-called soft landing is just the calm before the storm
David Rosenberg: Why the so-called soft landing is just the calm before the storm (msn.com)
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 0.60 to 89.60. It remains Overbought.
The long term Barometer added 0.60 to 79.00, a 27 month high. It remains Overbought. Daily trend remains up.
TSX Momentum Barometers
The intermediate term Barometer dropped 3.56 to 73.33. It remains Overbought.
The long term Barometer slipped 0.89 to 60.89. It remains Overbought.
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
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Equity Clock Publications