Tech Talk for Thursday December 7th 2023
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points at 8:30 AM EST.
GameStop dropped $0.41 to $14.43 after reporting less than consensus third quarter revenues.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/12/clip_image0011.png "clip_image001[1]")
Chewy fell $1.76 to $17.59 after reporting a third quarter loss.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/12/clip_image0021-1.png "clip_image002[1]")
Braze advanced $6.88 to $63.00 after reporting higher than consensus third quarter revenues.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/12/clip_image0031.png "clip_image003[1]")
Cerevel Theropeutics jumped $5.76 to $42.69 after AbbVie offered to purchase the company for $45 cash per share. Value of the transaction is $8.7 billion.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2023/12/clip_image0041-1.png "clip_image004[1]")
Technical Notes
S&P 100 and NASDAQ 100 stocks moving above intermediate resistance included US Bancorp, Raytheon Technology, Fastenal, QUALCOMM
U.S. Crude Oil ETN $USO moved below $67.45 extending an intermediate downtrend.
Gasoline ETN $UGA moved below $59.45 extending an intermediate downtrend.
Natural Gas ETN $FCG moved below intermediate support at $19.81
Energy SPDRs $XLE moved below $82.11 extending an intermediate downtrend.
ExxonMobil $XOM a Dow Jones Industrial Average stock moved below $98.50 extending an intermediate downtrend.
ConocoPhillips $COP an S&P 100 stock moved below $109.98 completing a Head & Shoulders pattern.
Suncor $SU.TO a TSX 60 stock moved below Cdn$42.42 extending an intermediate downtrend.
Canadian Natural Resources $CNQ.TO a TSX 60 stock moved below Cdn$85.14 completing a double top pattern.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Dec.6th 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.6th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Dec.6th 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Why stock market "FOMO" may set stage for early December seasonal weakness.
Why Value Stocks Make More Sense Now | Your Daily Five (12.05.23) Tom Bowley
Why Value Stocks Make More Sense Now | Your Daily Five (12.05.23) - YouTube
Trend Channels Help Define Stock Pullback Scenarios | The Final Bar (12.05.23)
Trend Channels Help Define Stock Pullback Scenarios | The Final Bar (12.05.23) - YouTube
Carter Charts Energy + Airlines Set For Record Revenues | Stock Market Technical Analysis
Carter Charts Energy + Airlines Set For Record Revenues | Stock Market Technical Analysis - YouTube
Mike Wilson's 2024 Stock Market Outlook | On The Tape Investing Podcast
Mike Wilson's 2024 Stock Market Outlook | On The Tape Investing Podcast - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer slipped another 1.40 to 81.20. It remains Overbought and showing early signs of rolling over.
The long term Barometer added 0.60 to 63.40. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 0.44 to 70.93. It remains Overbought.
The long term Barometer was unchanged at 49.78. 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
| More from the network: |