{"id":171906,"date":"2023-12-05T08:35:22","date_gmt":"2023-12-05T13:35:22","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=171906"},"modified":"2023-12-05T08:40:50","modified_gmt":"2023-12-05T13:40:50","slug":"tech-talk-for-tuesday-december-5th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/12\/05\/tech-talk-for-tuesday-december-5th-2023\/","title":{"rendered":"Tech Talk for Tuesday December 5th 2023"},"content":{"rendered":"

Pre-opening Comments for Tuesday December 5th<\/sup> 2023<\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 12 points at 8:30 AM EST.<\/em><\/p>\n

CVS Health<\/b> gained $1.92 to $70.40 after offering positive fourth quarter 2023 and 2024 guidance. The company also raised its quarterly dividend by 10%.<\/em><\/p>\n

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JM Smucker<\/b> added $3.37 to $115.80 after reporting higher than consensus third quarter earnings.<\/em><\/p>\n

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Design Brands<\/b> dropped $4.16 to $8.65 after reporting lower than consensus third quarter results. The company also lowered guidance.<\/em><\/p>\n

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Lululemon<\/b> dropped $2.64 to $458.12 after Raymond James lowered its rating from Strong Buy to Outperform.<\/em><\/p>\n

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 <\/p>\n

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

Retail SPDRs<\/b> $XRT moved above $67.66 extending an intermediate uptrend. Lowe\u2019s<\/b> $LOW an S&P 100 stock moved above $206.26 setting an intermediate uptrend. Target<\/b> $TGT moved above intermediate resistance at $135.70.<\/p>\n

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Healthcare SPDRs<\/b> $XLV moved above intermediate resistance at $131.92. Strength in the healthcare sector was led by strength in its biotech subsector. Biotech ETF<\/b> $BBH moved above $153.19 completing a double bottom pattern. <\/p>\n

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S&P Bank SPDRs<\/b> $KBE moved above $42.17 extending an intermediate uptrend.<\/p>\n

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India ETF<\/b> $PIN moved above $23.57 to an all-time high extending an intermediate uptrend. <\/p>\n

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TSX Cap REIT iShares<\/b> $XRE.TO moved above Cdn$15.25 completing a reverse Head & Shoulders pattern.<\/p>\n

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BCE<\/b> $BCE.TO a TSX 60 stock moved above Cdn$54.72 extending an intermediate uptrend.<\/p>\n

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 <\/p>\n

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

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

Daily Seasonal\/Technical Equity Trends for Dec.4th<\/sup> 2023<\/p>\n

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

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

Source for all positive seasonality ratings: <\/em>www.EquityClock.com<\/em><\/a><\/p>\n

 <\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for Dec.4th<\/sup> 2023<\/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

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

Daily Seasonal\/Technical Sector Trends for Dec.4th<\/sup> 2023 <\/p>\n

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

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

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

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

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

Top Picks by Hap Sneddon<\/b> from CastleMoore on BNN\u2019s Market Call<\/b><\/p>\n

https:\/\/www.bnnbloomberg.ca\/hap-sneddon-s-top-picks-december-4-2023-1.2007070<\/a><\/p>\n

 <\/p>\n

Stay away from Canadian banks on housing and household debt bubbles: strategist<\/b><\/p>\n

Stay away from Canadian banks on housing and household debt bubbles: strategist \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

I expect gold to surge higher, says Bleakley’s Peter Boockvar<\/b><\/p>\n

I expect gold to surge higher, says Bleakley’s Peter Boockvar \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

We expect a sharp increase in gold prices into 2024-2025: CPM’s Jeffrey Christian<\/b><\/p>\n

We expect a sharp increase in gold prices into 2024-2025: CPM’s Jeffrey Christian \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Active managers will see a growing roster of opportunities in 2024: Charles Schwab’s Liz Ann Sonders<\/b><\/p>\n

Active managers will see a growing roster of opportunities in 2024: Charles Schwab’s Liz Ann Sonders \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

BlackRock’s Rick Rieder doesn’t believe the economy is falling off a cliff<\/b><\/p>\n

BlackRock’s Rick Rieder doesn’t believe the economy is falling off a cliff \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Gold\u2019s Bold Move to New Closing High: Sprott Special<\/b><\/p>\n

Sprott Special: Gold\u2019s Bold Move to New Closing High<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer slipped 0.80 to 85.20. It remains Overbought.<\/p>\n

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The long term Barometer added 0.60 to 67.20. It remains Overbought. Daily trend remains up.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 0.44 to 74.01. It remains Overbought. Daily trend remains up.<\/p>\n

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The long term Barometer dropped 2.20 to 53.74. It remains Neutral. <\/p>\n

<\/b><\/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 Tuesday December 5th 2023 U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points at 8:30 AM EST. CVS Health gained $1.92 to $70.40 after offering positive fourth quarter 2023 and 2024 guidance. The company also raised its quarterly dividend by 10%. JM Smucker added $3.37 to […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-171906","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/171906","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=171906"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/171906\/revisions"}],"predecessor-version":[{"id":171916,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/171906\/revisions\/171916"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=171906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=171906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=171906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}