Pre-opening Comments for Thursday December 28^th

U.S. equity index futures were mixed this morning. S&P 500 futures were up 1 point at 8:30 AM EST.

Microsoft added $0.76 to $374.83 after Wedbush raised its target from $425 to $450.

Livent gained $0.21 to $18.11 after Mizuho raised its target price from $15 to $20.

SQM advanced $3.08 to $64.05 after the company arranged a partnership to develop lithium in Chile.

Netflix added $2.08 to $493.97 after KeyBanc raised its target price from $510 to $525.

 

Technical Notes

Restaurant Brands International $QSR.TO a TSX 60 stock moved above Cdn$102.32 to an all-time high extending an intermediate uptrend.

Open Text $OTEX a TSX 60 stock moved above US$42.71 extending an intermediate uptrend.

Gold bullion $GOLD closed at an all-time closing high at U.S. $2,093.10.

 

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Dec.27^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.27^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for Dec.27^th 2023

Green: Increase from previous day

Red: Decrease from previous day

 

Links offered by valued providers

Markets In Bullish Mode As We Head Toward Year End | The MEM Edge (12.22.23)

Markets In Bullish Mode As We Head Toward Year End | The MEM Edge (12.22.23) – YouTube

 

Charting Forward: Our 2024 Market Outlook | The Final Bar (12.27.23)

Note comments on seasonality

Charting Forward: Our 2024 Market Outlook | The Final Bar (12.27.23) – YouTube

 

Financial charts look good going into 2024, says OptionsPlay’s Jessica Inskip

Includes Ed Yardeni comment

Financial charts look good going into 2024, says OptionsPlay’s Jessica Inskip – YouTube

 

Updated Notes from December 26^th

NASDAQ 100 Index $NDX moved above to an all-time high. The Index was helped by intermediate breakouts by Applied Materials to an all-time high, ASML and Okta

Germany iShares $EWG moved above $29.52 extending an intermediate uptrend.

Turkey iShares $TUR moved below $32.47 extending an intermediate downtrend.

 

S&P 500 Momentum Barometers

The intermediate term Barometer was unchanged at 90.20. It remains Overbought.

The long term Barometer added 0.60 to 78.40. It remains Overbought.

 

TSX Momentum Barometers

The intermediate term Barometer added 2.22 to 76.89. It remains Overbought. Daily uptrend resumed.

The long term Barometer was unchanged at 61.78. It remains Overbought.

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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