{"id":162165,"date":"2022-12-22T02:22:00","date_gmt":"2022-12-22T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=162165"},"modified":"2022-12-22T08:41:35","modified_gmt":"2022-12-22T13:41:35","slug":"tech-talk-for-thursday-december-22nd-2022","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2022\/12\/22\/tech-talk-for-thursday-december-22nd-2022\/","title":{"rendered":"Tech Talk for Thursday December 22nd 2022"},"content":{"rendered":"

Pre-opening Comments for Thursday December 22nd<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 20 points in pre-opening trade.<\/em><\/p>\n

Index futures moved lower following release of the updated U.S. third quarter annualized GDP growth report at 8:30 AM EST<\/b>. Consensus was unchanged at 2.9%. Actual was growth at a 3.2% rate.<\/em><\/p>\n

Micron dropped $0.93 to $50.26<\/b> after reporting lower than consensus fiscal first quarter results. The company also announced plans for a 10% reduction in staff. Stifel Nicolaus lowered target price from $52 to $50.<\/em><\/p>\n

\"clip_image001[1]\"<\/a><\/p>\n

CarMax dropped $7.51 to $51.86<\/b> after reporting less than consensus third quarter revenues and earnings. <\/em><\/p>\n

\"clip_image002[1]\"<\/a><\/p>\n

Vail Resorts added $0.13 to $242.52<\/b> after Truist raised its target price from $270 to $292.<\/em><\/p>\n

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 <\/p>\n

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

Headline reads \u201cWednesday\u2019s put-call ratio ended at the highest level since March of 2020, highlighting an extreme bearish bias that persists in this market, typically a contrarian indicator<\/strong>\u201d.<\/em><\/p>\n

http:\/\/www.equityclock.com\/2022\/12\/21\/stock-market-outlook-for-december-22-2022\/<\/em><\/a><\/p>\n

 <\/p>\n

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

Nike<\/b> $NKE a Dow Jones Industrial Average stock moved above $117.77 extending an intermediate uptrend. The company reported higher than consensus fiscal second quarter revenues and earnings. <\/p>\n

\"clip_image001\"<\/a><\/p>\n

Caterpillar<\/b> $CAT a Dow Jones Industrial Average stock moved above $239.85 to an all-time high extending an intermediate uptrend. <\/p>\n

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 <\/p>\n

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

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

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

Daily Seasonal\/Technical Equity Trends for December 21st<\/sup> 2022<\/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

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

Daily Seasonal\/Technical Commodities Trends for December 21st<\/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

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

Daily Seasonal\/Technical Sector Trends for December 20th<\/sup> 2021 <\/p>\n

\"clip_image008\"<\/a><\/p>\n

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

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

 <\/p>\n

Canadian Association for Technical Analysis Meeting<\/strong><\/font><\/p>\n

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

Next meeting is offered tonight at 8:00 PM EST. Speaker is Keith Richards. Everyone is welcome. Not a member of CATA? More information is at https:\/\/canadianata.ca\/<\/a><\/p>\n

 <\/p>\n

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

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

Market Buzz from Greg Schnell<\/font><\/em><\/strong><\/p>\n

2022 Year End Review, Part 1 | Greg Schnell, CMT | Market Buzz (12.21.22) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Final Bar with Dave Keller<\/font><\/em><\/strong><\/p>\n

(12.21.22) Next Steps for the US Dollar | David Keller, CMT | The Final Bar \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Rick Rule<\/font><\/em><\/strong> says \u201cIf you\u2019re dumb and trusting, you will be separated from your money: Advice for 2023<\/strong><\/em>.\u201d<\/p>\n

\u2018If You\u2019re Dumb and Trusting, You Will Be Separated From Your Money\u2019: Rick Rule\u2019s Advice for 2023 \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

JP Morgan<\/font><\/em><\/strong> says \u201cU.S. earnings are going to have to come down<\/em><\/strong>\u201d<\/p>\n

U.S. earnings are going to have to come down, says JPMorgan’s Joyce Chang \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

\"clip_image009\"<\/a><\/p>\n

The intermediate term Barometer added 9.40 to 62.60. It changed from Neutral to Overbought on a move above 60.00.<\/p>\n

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The long term Barometer added 4.20 to 52.00. It remains Neutral.<\/p>\n

 <\/p>\n

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

\"clip_image011\"<\/a><\/p>\n

The intermediate term Barometer added 10.13 to 57.38. It remains Neutral.<\/p>\n

\"clip_image012\"<\/a><\/p>\n

The long term Barometer advanced 5.49 to 46.41. It remains Neutral. <\/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 22nd U.S. equity index futures were lower this morning. S&P 500 futures were down 20 points in pre-opening trade. Index futures moved lower following release of the updated U.S. third quarter annualized GDP growth report at 8:30 AM EST. Consensus was unchanged at 2.9%. Actual was growth at a 3.2% […]<\/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-162165","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/162165","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=162165"}],"version-history":[{"count":0,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/162165\/revisions"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=162165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=162165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=162165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}