Pre-opening Comments for Thursday December 19^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 46 points at 8:35 AM EST.

S&P 500 futures were unchanged following release of updated U.S. Third Quarter GDP and the December Philly Fed Index at 8:30 AM EST. Consensus for annualized third quarter GDP was a 2.8% gain. Actual was a 3.1% gain. Consensus for the December Philly Fed Index was +2.5 versus -5.5 in November. Actual was -16.4

Lennar dropped $8.93 to $137.00 after reporting less than consensus fiscal fourth quarter results. The company also lowered guidance for the first quarter.

Micron plunged $14.20 to $89.70 after lowering first quarter guidance.

MillerKnoll dropped $3.33 to $21.00 after reporting less than consensus second quarter orders and sales

Accenture advanced $21.11 to 368.72 after reporting higher than consensus fiscal first quarter results. The company also offered positive guidance.

EquityClock’s Stock Market Outlook for December 19^th

Did the US Fed just kibosh the Santa Claus rally? See:

https://equityclock.com/2024/12/18/stock-market-outlook-for-december-19-2024/

FOMC announcement at 2:00 PM EST yesterday

Fed Fund Rate was lowered by 0.25% to 4.25%-4.50%. Market responses were as follows:

S&P 500 Index plunged after 2:00 PM EST

Yield on 10 year U.S. Treasuries spiked higher

U.S. Dollar ETN spiked higher

The VIX Index spiked

Canadian Dollar plunged

Gold ETN and Gold Miners ETFs plunged.

Technical Notes

Australia iShares $EWA moved below $24.65 completing a Head & Shoulders pattern.

Global Timber and Forestry iShares $WOOD moved below $77.80 extending an intermediate downtrend.

Silver iShares $SLV moved below $27.32 and Silver Miners ETF $SIL moved below $34.48 and $34.37 completing a Head & Shoulders patterns.

Aerospace & Defense ETF $PPA moved below $116.80 completing a double top pattern.

S&P 100 and NASDAQ 100 stocks moving below support setting intermediate downtrends included Schlumberger on a move below $38.42, Pepsico ona move below $154.53, Monster Beverage on a move below $51.72, ADP on a move below $293.54, MercadoLibre on a move below $1,749.91, Capital One on a move below $179.08, Travellers on a move below $240.86, Roper Technologies on a move below $533.31, Bank of New York Mellon on a move below $77.06, Union Pacific on a move below $226.25, Applied Materials on a move below $166.46, Caterpillar on a move below $367.20, CDW on a move below $172.35, Advanced Micro Devices on a move below $121.82, Oracle on a move below $167.46, Palo Alto on a move below $187.60, MongoDB on a move below $250.26, Exxon Mobil on a move below $106.43, Caterpillar on a move below $367.20 and Oracle on a move below $167.46.

TSX 60 stocks moving below support setting intermediate downtrends included

Saputo on a move below Cdn$25.42, Open Text on a move below US27.65, Wheaton Precious Metals on a move below US$58.14, Teck Resources on a move below $58.30 and Kinross Gold on a move below US$9.16

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 18^th 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 December 18^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 18^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

There’s a lot of sector rotation ahead, says Charles Schwab’s Liz Ann Sonders

There’s a lot of sector rotation ahead, says Charles Schwab’s Liz Ann Sonders – YouTube

You have a 72% chance of making money in stocks in 2025: Marketwatch

https://www.marketwatch.com/story/you-have-a-72-chance-of-making-money-in-stocks-in-2025-ab451d86?mod=mw_pushly&send_date=20241218

Will the QQQ Sell Off in January 2025? Here’s How it Could Happen! David Keller

https://www.youtube.com/watch?v=7w9Qgojf6S8

Use this ADX Strategy on Stocks for BIG WINS! Joe Rabil

https://www.youtube.com/watch?v=SaIBopww1cg

Decision Day For The Fed: Where Do Markets Go From Here? Dan Nathan and Liz Young

https://www.youtube.com/watch?v=68e1pMbT0W0

CHART THIS with David Keller, CMT Wednesday 12/18/24

https://www.youtube.com/watch?v=E30YF2YXnaY

S&P 500 Momentum Barometers

The intermediate term Barometer plunged 19.00 to 20.00., the lowest level since March 2023. It changed from Neutral to Oversold. Daily downtrend was extended.

The long term Barometer dropped 7.80 to 55.20. It changed from Overbought to Neutral on a drop below 60. Daily trend is down.

P.S. Short term Barometer dropped to 8.00, lowest level since April.

TSX Momentum Barometers

The intermediate term Barometer plunged 10.05 to 24.66. It changed from Neutral to Oversold on a move below 40.00. Daily downtrend was extended.

The long term Barometer dropped 5.48 to 59.82. It changed from Overbought to Neutral on a drop below 60.00. Daily downtrend was extended.

P.S Short term Barometer (20 day) dropped 14.20 to 8.00, lowest level since October 2023

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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