Tech Talk for Wednesday December 11th 2019

U.S. equity index futures were slightly higher this morning. S&P 500 futures were up 2 points in pre-opening trade. Investors are waiting for news on interest rates by the Federal Reserve Open Market Committee to be released at 2:00 PM EST. Consensus is that the Fed Fund Rate will remain unchanged.

Index futures were virtually unchanged following release of the November U.S. Consumer Price Index at 8:30 AM EST. Consensus was a 0.2% increase versus a gain of 0.4% in October. Actual was a 0.3% increase. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0.2% in October. Actual was a gain of 0.2%..

Home Depot dropped $2.65 to $213.25 after the company projected 2020 sales growth below consensus.

AT&T (T $38.06) is expected to open higher after the company announced plans to cut costs by $1.5 billion. In addition, the company announced a 100 million share buyback program.

American Eagle Outfitters (AEO $15.12) is expected to open lower after the company issued weaker than consensus fourth quarter guidance.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/12/10/stock-market-outlook-for-december-11-2019/

Note seasonality charts on the U.S. Dollar Index and technical comment on the CRB Index.

StockTwits released yesterday @EquityClock

Starbucks $SBUX, an S&P 100 stock moved above $86.79 and $87.24 resuming an intermediate uptrend

Bank of Montreal Equal Weight Canadian Oil and Gas ETF $ZEO.CA moved above $42.38 setting an intermediate uptrend.

More Canadian oil stock breakouts! ARC Resources $ARX.CA moved above $42.38 extending an intermediate uptrend.

Inter Pipeline $IPL.CA, a TSX 60 stock moved above $22.36 re-establishing an intermediate uptrend.

Canadian Energy iShares $XEG.CA moved above $8.81 extending an intermediate uptrend.

‘Tis the season for the Canadian Energy Sector to move higher! $XEG.CA

BMO Equal Weight U.S. Banks ETF $ZUB.CA moved above $29.98 extending an intermediate uptrend.

Synopsys $SNPS, a NASDAQ 100 stock moved below $131.60 completing a double top pattern.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 10th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 10th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 10th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer dropped 3.01 to 68.94 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer gained 2.79 to 71.63 yesterday. It remains intermediate overbought.

Disclaimer: Seasonality 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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