Pre-opening Comments for Thursday December 29th
U.S. equity index futures were higher this morning. S&P 500 futures were up 19 points in pre-opening trade.
Netflix gained $1.48 to $278.38 after CFRA upgraded the stock from Sell to Buy. Target price was increased from $225 to $310.
Walt Disney advanced $0.61 to $84.78 after its latest Avator film surpassed $1 billion globally in box office sales.
Pfizer added $0.01 to $50.81 after announcing that its Hemophilia B treatment met a primary endpoint in a Phase 3 study.
EquityClock’s Daily Comment
Headline reads “The put-call ratio just printed the highest level in over 25 years, highlighting the increasingly bearish bias that has become ingrained in this market, making it significantly lopsided”.
http://www.equityclock.com/2022/12/28/stock-market-outlook-for-december-29-2022/
Technical Notes
Apple $AAPL a Dow Jones Industrial Average stock moved below $128.49 extending an intermediate downtrend.
AutoDesk $ADSK a NASDAQ 100 stock moved below $181.67 extending an intermediate downtrend.
Gildan Activewear $GIL.TO a TSX 60 stock moved below $36.04 extending an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for December 28th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for December 28th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for December 28th 2021
Green: Increase from previous day
Red: Decrease from previous day
Michael Campbell’s Year End Special Show
After an incredible year of stories that hit us directly in the wallet like never before – Victor and Ozzie weigh in on their choice for top story of 2022 while Mike’s will surprise just about everyone with his pick.
Don Vialoux, master of cycles and seasonalities, tells us what’s coming in 2023 for stocks, gold, oil and the US dollar.
Michael Campbell’s MoneyTalks – Complete Show (mikesmoneytalks.ca)
Links offered by valued providers
Greg Schnell offers “Yearend review part 2”.
Year End Review, Part 2 | Greg Schnell, CMT | Market Buzz (12.28.22) – YouTube
David Keller discusses “Next steps for the U.S. Dollar”.
https://www.youtube.com/watch?v=z0-deAttVQU
Mish Schneider discusses “Catching Big Swings Using Phases, Leadership and Momentum”
https://www.youtube.com/watch?v=xXKn11tJX9Q
Apple is a bellwether and it’s taking the market lower, says Sarat Sethi
Apple is a bellwether and it’s taking the market lower, says Sarat Sethi – YouTube
Defense stocks will be a good place for equity exposure in ’23, says David Rosenberg
Defense stocks will be a good place for equity exposure in ’23, says David Rosenberg – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer plunged 12.60 to 44.00. It remains Neutral. Trend is down.
The long term Barometer dropped 3.80 to 48.00. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer dropped 8.47 to 44.92. It remains Neutral.
The long term Barometer dropped 6.78 to 42.37. 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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Equity Clock Publications