Tech Talk for Tuesday December 19th 2023
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points at 4,803 at 8:35 AM EST.
Index futures were unchanged following release of the U.S. November New Home Starts report at 8:30 AM EST. Consensus was a drop to 1.360 million units from 1.472 million units in October. Actual was an increase to 1.56 million units.
The Canadian Dollar added 0.13 to US74.90 cents following release of Canada's November Consumer Price Index at 8:30 AM EST. Consensus was a drop of 0.2%. Actual was unchanged. On a year-over-year basis consensus was an increase of 2.9% versus a gain of 3.1% in October. Actual was an increase of 3.1%
Pepsico dropped $1.19 to $167.72 after JP Morgan downgraded the stock from Overweight to Neutral.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/12/clip_image0011-4.png "clip_image001[1]")
Accenture dropped $6.69 to $335.16 after the company offered second quarter guidance below consensus.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/12/clip_image0021-5.png "clip_image002[1]")
TransUnion added $0.13 to $68.70 after Oppenheimer launched coverage with an Outperform rating.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/12/clip_image0031-4.png "clip_image003[1]")
Technical Notes
Netflix $NFLX a NASDAQ 100 stock moved above $485.00 extending an intermediate uptrend.
CSX $CSX a NASDAQ 100 stock moved above $34.14 extending an intermediate uptrend.
Meta Platforms $META a NASDAQ 100 stock moved above $342.92 extending an intermediate uptrend.
CGI Inc $GIB TSX 60 stock moved above US$107.66 to an all-time high extending an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Dec.18th 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.18th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Dec.18th 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Blue Chip Triumph, and Bond Yield Surprises! | Power Charting (12.15.23)
Note comments on QQQ:TLT chart.
Blue Chip Triumph, and Bond Yield Surprises! | Power Charting (12.15.23) - YouTube
Top Five Charts of 2023 #1: S&P 500 | The Final Bar (12.18.23)
Top Five Charts of 2023 #1: S&P 500 | The Final Bar (12.18.23) - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 2.00 to 89.60. It remains Overbought.
The long term Barometer was unchanged at 75.00. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 1.32 to 71.37. It remains Overbought.
The long term Barometer gained 1.32 to 53.74. It remains Neutral.
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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