Tech Talk for Thursday January 4th 2024
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points at 8:30 AM EST
Cal-Maine Foods dropped $3.66 to 51.29 after reporting lower second quarter results
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/01/clip_image0015-1.png "clip_image001[5]")
AbbVie dropped $2.31 to $158.31 after CVS Health announced that it will substitute AbbVie's drug, Humira with comparable drugs.
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/01/clip_image0025-1.png "clip_image002[5]")
Apple slipped $1.31 to $182.94 after Piper Sandler lowered its target price from $220 to $205.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/01/clip_image0035-1.png "clip_image003[5]")
Yum Brands dropped $0.78 to $128.32 after Stifel downgraded the stock from Buy to Hold.
![clip_image004[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2024/01/clip_image0045-1.png "clip_image004[5]")
Technical Notes
U.S. Insurance iShares $IAK moved above $101.12 to an all-time high extending an intermediate uptrend.
Allstate $ALL an S&P 100 stock moved above $144.99 to an all-time high extending an intermediate uptrend.
Pharma ETF $PPH moved above $82.68 to an all-time high extending an intermediate uptrend.
Incyte $INCY a NASDAQ 100 stock moved above $66.43 extending an intermediate uptrend.
Copart $CPRT a NASDAQ 100 stock moved below $47.08 completing a double top pattern.
Cadence Design Systems $CNDS a NASDAQ 100 stock moved below $256.95 completing a double top pattern.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Jan.3rd 2024
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 Jan 3rd 2024
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Jan.3rd 2024
Green: Increase from previous day
Red: Decrease from previous day
Link offered by a valued provider
Stocks & Bonds Fall in Tandem!
Stocks & Bonds Fall in Tandem! - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer was unchanged at 91.60. It remains Overbought.
The long term Barometer dropped 2.40 to 78.00. It remains Overbought and showing early signs of a peak.
TSX Momentum Barometers
The intermediate term Barometer dropped 6.67 to 66.67. It remains Overbought. Daily data has rolled over.
The long term Barometer dropped 1.33 to 57.33. It remains Neutral. Daily data has rolled over.
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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