{"id":161575,"date":"2022-12-01T02:22:00","date_gmt":"2022-12-01T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=161575"},"modified":"2022-12-01T07:50:17","modified_gmt":"2022-12-01T12:50:17","slug":"tech-talk-for-thursday-december-1st-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/12\/01\/tech-talk-for-thursday-december-1st-2022\/","title":{"rendered":"Tech Talk for Thursday December 1st 2022"},"content":{"rendered":"

Pre-opening Comments for Thursday December 1st<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were mixed this morning<\/b>. S&P 500 futures were unchanged at 7:30 AM EST.<\/em><\/p>\n

October core PCE Price Index<\/b> released at 8:30 AM EST is expected to increase 0.3% versus a gain of 0.5% in September. On a year-over-year basis, October core PCE Price Index is expected to increase 5.0 versus a gain of 5.1% in September. <\/em><\/p>\n

Snowflake<\/b> $SNOW dropped $7.30 to $135.60 after the company offered a lower than expected outlook<\/em><\/p>\n

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Salesforce.com<\/b> $CRM fell $10.85 to $149.40 after Bret Taylor, company Chief Executive Officer announced plans to leave the company next spring. <\/em><\/p>\n

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Splunk<\/b> $SPLK added $6.47 to $84.15 after the company offered higher sales and cash flow forecasts. <\/em><\/p>\n

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Sturm Ruger<\/b> $RGR gained $3.38 to $58.31 after the company announce a special $5.00 per share dividend. <\/em><\/p>\n

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 <\/p>\n

EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n

Headline reads \u201cOver the past two decades, the S&P 500 Index has averaged a gain of 0.9% in December with 70% of periods closing higher<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/11\/30\/stock-market-outlook-for-december-1-2022\/<\/em><\/a><\/p>\n

 <\/p>\n

Responses to Federal Reserve Chairman\u2019s Speech after 2:00 PM <\/strong><\/font><\/p>\n

S&P 500 moved higher moving and advanced above its 200 day moving average.<\/p>\n

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Long term treasury bond prices moved higher<\/p>\n

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The U.S. Dollar Index ETN moved lower<\/p>\n

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Financials moved higher<\/p>\n

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Gold\/Silver prices moved higher<\/p>\n

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Precious metal equity prices moved higher.<\/p>\n

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 <\/p>\n

Technical Notes<\/strong><\/font> <\/p>\n

Chinese ETFs $FXI were notably higher. China Large Cap iShares moved above $27.13 extending an intermediate uptrend. <\/p>\n

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Emerging Markets iShares $EEM, heavily weighted in Chinese equities moved above $39.16 extending an intermediate uptrend. <\/p>\n

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Other emerging markets showing positive technical action include Taiwan and Hong Kong. Taiwan iShares moved above $49.83 extending an intermediate uptrend. Hong Kong iShares moved above $19.91 extending an intermediate uptrend.<\/p>\n

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Strength in Chinese equities prompted strength in base metal equities and ETFs. Global Base Metals iShares $PICK moved above $42.06 extending an intermediate uptrend. Global X Copper Miners $COPX moved above $35.60 extending an intermediate uptrend. TSX Global Base Metals iShares XBM.TO moved above Cdn$19.84 extending an intermediate uptrend. <\/p>\n

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TSX Information Technology iShares $XIT.TO moved above Cdn$34.40 extending an intermediate uptrend. Strength was led by a move by CGI Group $GIB.A.TO above Cdn$116.88 to an all-time high.<\/p>\n

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EAFE iShares $EFA moved above $66.77 extending an intermediate uptrend.<\/p>\n

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Other major U.S. sector ETFs that moved above intermediate resistance included XLK, SLX, IYT, XME, IAI, IYR, SLV<\/p>\n

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S&P 100 stocks moving above intermediate resistance included FDX, BKNG, NKE, MS, USB, PFE, CSCO, MSFT<\/p>\n

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NASDAQ 100 stocks moving above intermediate resistance included ILMN, WDAY, LULU, CPRT, CSX, GOOG, GOOGL, KLAC, MCHP, MRVL, PAYX, TCOM, TTWO <\/p>\n

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TSX 60 stocks moving above intermediate resistance included BAM.A, TECK.B, PPL.<\/p>\n

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 <\/p>\n

Trader\u2019s Corner<\/strong><\/font><\/p>\n

Lots of seasonality updates<\/b>! December tends to be a month when seasonal influences change the most.<\/em><\/p>\n

 <\/p>\n

Equity Indices and Related ETFs<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Equity Trends for November 30th<\/sup> 2022<\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/em><\/p>\n

 <\/p>\n

Commodities<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Commodities Trends for November 30th<\/sup> 2022<\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/em><\/p>\n

<\/em><\/p>\n

Sectors<\/strong><\/font><\/p>\n

Daily Seasonal\/Technical Sector Trends for November 30th<\/sup> 2021 <\/p>\n

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Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/font><\/em><\/p>\n

 <\/p>\n

Links offered by valued providers<\/strong><\/font><\/p>\n

<\/font><\/strong><\/p>\n

From Mark Bunting<\/font><\/em><\/strong> and www.uncommonsenseinvestor.com<\/a><\/p>\n

Ponzi to Bre-X, Madoff to FTX. Why Frauds Will Always Happen & How Investors Can Protect Themselves. – Uncommon Sense Investor<\/a><\/p>\n

 <\/p>\n

Tom Bowley<\/font><\/em><\/strong> says \u201cS&P 500 support levels must hold<\/em><\/strong>\u201d.<\/p>\n

S&P 500 Support Levels Must Hold | Tom Bowley | Trading Places (11.29.22) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Greg Schnell<\/font><\/em><\/strong> says \u201cIt\u2019s a real bull versus bear battle<\/em><\/strong>\u201d<\/p>\n

It’s A Real Bull vs. Bear Battle | Greg Schnell, CMT | Your Daily Five (11.29.22) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Greg Schnell<\/font><\/em><\/strong> is \u201cLooking for strong ETFs<\/em><\/strong>\u201d.<\/p>\n

Looking For Strong ETFs | Greg Schnell, CMT | Market Buzz (11.30.22) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n

\"clip_image026\"<\/a><\/p>\n

The intermediate term Barometer added 6.60 to 92.80. It remains Overbought. Trend remains up.<\/p>\n

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The long term Barometer added 6.40 to 64.60. It changed from Neutral to Overbought. Trend remains up.<\/p>\n

 <\/p>\n

TSX Momentum Barometers<\/strong><\/font><\/p>\n

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The intermediate term Barometer added 5.51 to 84.32. It remains Overbought. Trend remains up.<\/p>\n

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The long term Barometer added 5.93 to 57.20. It remains Neutral. Trend remains up.<\/p>\n

 <\/p>\n

Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/em><\/a> 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<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Thursday December 1st U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 7:30 AM EST. October core PCE Price Index released at 8:30 AM EST is expected to increase 0.3% versus a gain of 0.5% in September. On a year-over-year basis, October core PCE Price Index is […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-161575","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/161575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/comments?post=161575"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/161575\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=161575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=161575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=161575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}