Tech Talk for Thursday December 21st 2023
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]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/12/clip_image0011-5.png "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]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/12/clip_image0021-6.png "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]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/12/clip_image0031-5.png "clip_image003[1]")
Technical Notes
Water Resources ETF $PHO moved above $60.41 to an all-time high extending an intermediate uptrend.
CVS Health $CVS an S&P 100 stock moved above $76.72 completing a double bottom pattern.
Alphabet breakouts: $GOOG moved above $142.38 and $GOOGL moved above $141.22 extending an intermediate uptrend.
Illumina $ILMN a NASDAQ 100 stock moved above $141.60 extending an intermediate uptrend.
Corn ETN $CORN moved below $21.53 extending an intermediate downtrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Dec.20th 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.20th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Dec.20th 2023
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)
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 5.40 to 85.60. It remains Overbought. Daily data moved lower.
The long term Barometer dropped 6.40 to 72.20. It remains Overbought. Daily data moved lower.
TSX Momentum Barometers
The intermediate term Barometer dropped 5.73 to 70.04. It remains Overbought. Daily data moved lower.
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
| More from the network: |