Pre-opening Comments for Tuesday December 19^th 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.

Accenture dropped $6.69 to $335.16 after the company offered second quarter guidance below consensus.

TransUnion added $0.13 to $68.70 after Oppenheimer launched coverage with an Outperform rating.

 

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.18^th 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.18^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for Dec.18^th 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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