{"id":171994,"date":"2023-12-07T02:22:00","date_gmt":"2023-12-07T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=171994"},"modified":"2023-12-07T08:51:25","modified_gmt":"2023-12-07T13:51:25","slug":"tech-talk-for-thursday-december-7th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/12\/07\/tech-talk-for-thursday-december-7th-2023\/","title":{"rendered":"Tech Talk for Thursday December 7th 2023"},"content":{"rendered":"

Pre-opening Comments for Thursday December 7th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 5 points at 8:30 AM EST.<\/em><\/p>\n

GameStop <\/b>dropped $0.41 to $14.43 after reporting less than consensus third quarter revenues. <\/em><\/p>\n

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Chewy<\/b> fell $1.76 to $17.59 after reporting a third quarter los<\/em>s. <\/p>\n

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Braze <\/b>advanced $6.88 to $63.00 after reporting higher than consensus third quarter revenues.<\/em> <\/p>\n

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Cerevel Theropeutics<\/b> jumped $5.76 to $42.69 after AbbVie offered to purchase the company for $45 cash per share. Value of the transaction is $8.7 billion<\/em>.<\/p>\n

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 <\/p>\n

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

S&P 100 and NASDAQ 100 stocks moving above intermediate resistance included US Bancorp, Raytheon Technology, Fastenal, QUALCOMM<\/p>\n

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U.S. Crude Oil ETN $USO moved below $67.45 extending an intermediate downtrend. <\/p>\n

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Gasoline ETN $UGA moved below $59.45 extending an intermediate downtrend. <\/p>\n

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Natural Gas ETN $FCG moved below intermediate support at $19.81<\/p>\n

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Energy SPDRs $XLE moved below $82.11 extending an intermediate downtrend. <\/p>\n

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ExxonMobil $XOM a Dow Jones Industrial Average stock moved below $98.50 extending an intermediate downtrend.<\/p>\n

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ConocoPhillips $COP an S&P 100 stock moved below $109.98 completing a Head & Shoulders pattern.<\/p>\n

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Suncor $SU.TO a TSX 60 stock moved below Cdn$42.42 extending an intermediate downtrend. <\/p>\n

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Canadian Natural Resources $CNQ.TO a TSX 60 stock moved below Cdn$85.14 completing a double top pattern. <\/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 Dec.6th<\/sup> 2023<\/p>\n

\"clip_image014\"<\/a> Green: Increase from previous day<\/font><\/em><\/p>\n

Red: Decrease from previous day<\/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.6th<\/sup> 2023<\/p>\n

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

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

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

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

Daily Seasonal\/Technical Sector Trends for Dec.6th<\/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><\/p>\n

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

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

Why stock market \u201cFOMO\u201d may set stage for early December seasonal weakness.<\/b><\/p>\n

https:\/\/www.marketwatch.com\/story\/why-stock-market-fomo-may-set-stage-for-early-december-seasonal-weakness-dc96051a?mod=mw_pushly&send_date=20231206<\/a><\/p>\n

 <\/p>\n

Why Value Stocks Make More Sense Now | Your Daily Five (12.05.23) Tom Bowley<\/b><\/p>\n

Why Value Stocks Make More Sense Now | Your Daily Five (12.05.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Trend Channels Help Define Stock Pullback Scenarios | The Final Bar (12.05.23)<\/b><\/p>\n

Trend Channels Help Define Stock Pullback Scenarios | The Final Bar (12.05.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Carter Charts Energy + Airlines Set For Record Revenues | Stock Market Technical Analysis<\/b><\/p>\n

Carter Charts Energy + Airlines Set For Record Revenues | Stock Market Technical Analysis \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Mike Wilson\u2019s 2024 Stock Market Outlook | On The Tape Investing Podcast<\/b><\/p>\n

Mike Wilson\u2019s 2024 Stock Market Outlook | On The Tape Investing Podcast \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer slipped another 1.40 to 81.20. It remains Overbought and showing early signs of rolling over.<\/p>\n

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The long term Barometer added 0.60 to 63.40. It remains Overbought.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 0.44 to 70.93. It remains Overbought.<\/p>\n

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The long term Barometer was unchanged at 49.78. 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 Thursday December 7th U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points at 8:30 AM EST. GameStop dropped $0.41 to $14.43 after reporting less than consensus third quarter revenues. Chewy fell $1.76 to $17.59 after reporting a third quarter loss. Braze advanced $6.88 to $63.00 after […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-171994","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/171994","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=171994"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/171994\/revisions"}],"predecessor-version":[{"id":172004,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/171994\/revisions\/172004"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=171994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=171994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=171994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}