Next Tech Talk report will be released (in the New Year!) on Tuesday January 3rd<\/sup><\/font><\/em><\/p>\n <\/sup><\/em><\/p>\n <\/strong><\/font><\/p>\n Pre-opening Comments for Friday December 30th<\/sup> 2022<\/strong><\/font><\/em><\/p>\n U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 26 points in pre-opening trade. <\/em><\/p>\n U.S and Canadian equity trading activity today is expected to be substantially lower than average today<\/b>. U.S. equity markets are scheduled to close at their regular time. The U.S. bond market is scheduled to close at 2:00 PM EST.<\/em><\/p>\n Canadian equity exchanges are scheduled to close at their regular time.<\/em><\/b><\/p>\n U.S. and Canadian exchanges are closed on Monday for the New Year holiday.<\/b> Trading resumes at regular times on Tuesday.<\/em><\/p>\n AmerisourceBergen $ABC dropped 4.42 to z4161.63<\/b> after the FDA filed an opioid suit against the company. <\/em><\/p>\n <\/p>\n EquityClock\u2019s Daily Comment<\/strong><\/font><\/em><\/p>\n Headline reads \u201cA surge in demand in recent weeks has pushed gasoline product supplied back to the highs of the year, supportive for the price of energy commodities during their period of seasonal strength<\/strong>\u201d.<\/em><\/p>\n http:\/\/www.equityclock.com\/2022\/12\/29\/stock-market-outlook-for-december-30-2022\/<\/em><\/a><\/p>\n <\/p>\n Technical Notes for Friday<\/strong><\/font><\/p>\n VALE, one of the largest base metals producers in the world, moved above US$17.03 extending an intermediate uptrend. <\/p>\n Platinum ETN $PPLT moved above $97.50 extending an intermediate uptrend. \u2018Tis the season for strength to March 1st<\/sup> !<\/p>\n <\/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 29th<\/sup> 2022<\/p>\n 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 December 29th<\/sup> 2022<\/p>\n Green: Increase from previous day<\/font><\/em><\/p>\n Red: Decrease from previous day<\/font><\/em><\/p>\n <\/p>\n Sectors<\/strong><\/font><\/p>\n Daily Seasonal\/Technical Sector Trends for December 29th<\/sup> 2021 <\/p>\n Green: Increase from previous day<\/font><\/em><\/p>\n Red: Decrease from previous day<\/em><\/p>\n <\/p>\n Outlook for 2023 by CFRA\u2019s Sam Stovel<\/strong><\/font><\/p>\n https:\/\/www.bnnbloomberg.ca\/investing\/video\/investment-strategist-sam-stovall-sets-2023-year-end-target-of-4-575-for-the-s-p500~2591669<\/a><\/p>\n <\/p>\n Tech Talk\u2019s 2022 Yearend Review and<\/font><\/em> Outlook for 2023<\/strong><\/font><\/p>\n <\/font><\/strong><\/p>\n Following are notes developed for Michael Campbell prior to his year end Money Talks podcast released last Wednesday. <\/p>\n <\/p>\n WOFC Update Comments <\/strong><\/font><\/p>\n for December 28th<\/sup> 2022<\/strong><\/font><\/p>\n <\/font><\/strong><\/p>\n (Updates from comments offered for Money Talks on June 30<\/em>th<\/em> <\/sup>) <\/p>\n <\/p>\n <\/b><\/p>\n Comment<\/font><\/em><\/b>: North American equity indices follow a four year Presidential cycle after a new president from the previous party takes control (As happened when Biden, the Democrat became President by defeating Trump, the Republican).<\/p>\n Seasonal expectation<\/font><\/em><\/b>: North American equity indices reach a four year low in mid-year during the second year after the new President is elected. <\/p>\n Actual observations<\/font><\/em><\/b>: North American equity indices completed double bottom patterns with lows reached near the end of June and in mid-October. Subsequently, they have recorded modest gains. The S&P 500 Index added 1.5% and the TSX Composite Index advanced 3.4%.<\/p>\n Outlook<\/font><\/em><\/b>: Seasonal analysis of North American equity markets since 1930 indicates that the third year of the Presidential Cycle (e.g. 2023) is the strongest period in the four year cycle. Average gain per period for the Dow Jones Industrial Average since 1930 was 14.0%. <\/p>\n <\/p>\n Comment<\/font><\/em><\/b>: Preferred sector investment for the first half of 2022 was the Mines and Metals sector. An Exchange Traded Fund, that tracks the sector, is S&P Metals and Mining SPDRs (Symbol: XME).<\/p>\n Seasonal expectation<\/font><\/em><\/b>: Favourable seasonal influences peak in early June and bottom in early October. <\/p>\n Actual observation<\/font><\/em><\/b>: XME topped in late April after a gain of 55% and bottomed in late September. From its low in late September, XME has advanced 25%.<\/p>\n Outlook<\/font><\/em><\/b>: Demand for products in the Mines and Metals sector in the U.S. is expected to expand significantly in 2023 as funds for the U.S. Infrastructure Program are employed. Demand also will increase from China as its economy recovers from COVID 19. XME is an attractive investment at current prices for a seasonal trade lasting to early June.<\/p>\n <\/p>\n Comment:<\/em><\/font><\/b> Wholesale gasoline prices in the U.S. based on the Exchange Traded Note: UGA have a history of moving higher in the first half of the year as the summer driving season arrives.<\/p>\n Seasonal expectation<\/font><\/em><\/b>: Gasoline prices move higher from mid-December to the end of May.<\/p>\n Actual observation<\/font><\/em><\/b>: Gasoline prices virtually doubled from January to mid-June in 2022 when profit-taking was recommended<\/p>\n Outlook<\/font><\/em>: <\/b>Gasoline prices bottomed in mid-December on schedule. Accumulation for a seasonal trade in the first half of 2023 is recommended.<\/p>\n <\/p>\n Comment<\/font><\/em>:<\/b> TSX Gold iShares (XGD.TO) have two periods of seasonal strength each year related to recurring annual events: Gold is purchased from mid-June to early September by jeweler manufacturers in India for the Diwali season and from mid December to end of February by jeweler manufacturers in China for the Chinese New Year.<\/p>\n Seasonal Expectations<\/font><\/em><\/b>: Gold and gold stocks move higher from mid- December to the end of February and from mid-June to early September.<\/p>\n Actual observations<\/font><\/em><\/b>: XGD.TO advanced 35% from mid-December 2021 to early March 2022. The mid-June to early September trade did not work this year. XGD.TO dropped 12% from mid-June to early September 2022 when the U.S. Dollar Index soared from 103 to 110. Units recently reached a seasonal low on December 19th<\/sup> at $17.00.<\/p>\n Outlook<\/font><\/em><\/b>: Favourable seasonal influences started on schedule this December. Prices of gold and gold equities\/ETFs recently established a short term uptrend in response to weakness in the U.S. Dollar Index. Prospects for gold purchases by Chinese jeweler manufacturers prior to China\u2019s New Year celebrations on January 22nd<\/sup> is an added consideration as China\u2019s economy recovers from COVID 19. Accumulation for a seasonal trade lasting to the end of February is recommended.<\/p>\n <\/p>\n S&P 500 Momentum Barometers<\/strong><\/font><\/p>\n The intermediate term Barometer advanced 12.80 to 56.80. It remains Neutral.<\/p>\n The long term Barometer added 3.60 to 52.60. It remains Neutral.<\/p>\n <\/p>\n TSX Momentum Barometers<\/strong><\/font><\/p>\n The intermediate term Barometer added 8.47 to 53.39. It remains Neutral.<\/p>\n The long term Barometer added 5.08 to 47.46. It remains Neutral<\/p>\n <\/b><\/p>\n![\"clip_image001[1]\"](\"https:\/\/timingthemarket.ca\/techtalk\/wp-content\/uploads\/2022\/12\/clip_image0011-15.png\" "\\"clip_image001[1]\\"")
<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/b><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n<\/a><\/p>\n