{"id":172035,"date":"2023-12-08T02:22:00","date_gmt":"2023-12-08T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=172035"},"modified":"2023-12-08T08:41:47","modified_gmt":"2023-12-08T13:41:47","slug":"tech-talk-for-friday-december-8th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/12\/08\/tech-talk-for-friday-december-8th-2023\/","title":{"rendered":"Tech Talk for Friday December 8th 2023"},"content":{"rendered":"

Pre-opening Comments for Friday December 8th<\/sup><\/strong><\/font><\/em><\/p>\n

Equity index futures were lower this morning<\/b>. S&P 500 futures were down 20 points at 8:35 AM EST<\/em><\/p>\n

Index futures dropped 12 points following release of the November Employment report at 8:30 AM EST<\/b>. Consensus for November Non-farm Payrolls was an increase to 180,000 from 150,000 in October. Actual was 199,000. Consensus for the November Unemployment Rate was unchanged at 3.9% from October. Actual was a drop to 3.7%. Consensus for November Average Hourly Earnings was a drop to 4.0% from 4.1% in October. Actual was a drop to 4.0% <\/em><\/p>\n

Lululemon<\/b> dropped $13.19 to $451.48 despite reporting higher than consensus third quarter results. However, the company also issued fiscal fourth quarter revenue guidance that was lower than consensus.<\/em><\/p>\n

\"clip_image001[5]\"<\/a><\/p>\n

Broadcom <\/b>dropped $12.26 to $910.00 after reporting less than consensus third quarter revenues.<\/em><\/p>\n

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MBIA<\/b> jumped $3.49 to $11.87 after the company declared a special $8.00 per share dividend.<\/em><\/p>\n

\"clip_image003[5]\"<\/a><\/p>\n

Smith & Wesson<\/b> dropped $0.67 to $13.20 after reporting lower than consensus quarterly operating earnings<\/em><\/p>\n

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 <\/p>\n

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

Walgreen Boots<\/b> $WBA a Dow Jones Industrial Average stock moved above $22.07 completing a double bottom pattern. <\/p>\n

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Xcel Energy<\/b> $XEL an S&P 100 stock moved above $62.02 extending an intermediate uptrend. <\/p>\n

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Seagen <\/b>$SGEN a NASDAQ 100 stock moved above $217.51 to an all-time high extending an intermediate uptrend. <\/p>\n

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United Parcel Service<\/b> $UPS an S&P 100 stock moved above $156.66 extending an intermediate uptrend.<\/p>\n

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Sherwin Williams<\/b> $SHW a NASDAQ 100 stock moved above $282.55 extending an intermediate uptrend.<\/p>\n

\"clip_image004[1]\"<\/a><\/p>\n

CCL Industries<\/b> $CCL.B.TO a TSX 60 stock moved above Cdn$58.79 completing a reverse Head & Shoulders pattern.<\/p>\n

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BMO Equal Weight TSX Energy ETF<\/b> $ZEO.TO moved below Cdn$62.83 setting an intermediate downtrend.<\/p>\n

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Imperial Oil<\/b> $IMO.TO a TSX 60 stock moved below Cdn$73.44 extending an intermediate downtrend.<\/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.7th<\/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.7th<\/sup> 2023<\/p>\n

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

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

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

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

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

Daily Seasonal\/Technical Sector Trends for Dec.7th<\/sup> 2023 <\/p>\n

\"clip_image013\"<\/a><\/b><\/p>\n

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

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

 <\/p>\n

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

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

High Risk of Market Downside in December? | The Final Bar (12.06.23)<\/b><\/p>\n

High Risk of Market Downside in December? | The Final Bar (12.06.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Keep an Eye on Non-Farm Payroll as S&P Struggles at 4600 Level | Trading Places (12.07.23)<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=lrhnGyd9Ufc<\/a><\/p>\n

 <\/p>\n

What Lies Ahead For End of the Year Equities? | GoNoGo Charts (12.08.23)<\/b><\/p>\n

What Lies Ahead For End of the Year Equities? | GoNoGo Charts (12.08.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Lift Off! Aerospace and Defense Stocks Showing Multi-Year Breakout | The Final Bar (12.07.24)<\/b><\/p>\n

Note Jeff Huge\u2019s comment on gold at the 28 minute mark.<\/b><\/p>\n

Lift Off! Aerospace and Defense Stocks Showing Multi-Year Breakout | The Final Bar (12.07.24) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

\"clip_image014\"<\/a><\/p>\n

The intermediate term Barometer added 0.60 to 81.80. It remains Overbought.<\/p>\n

\"clip_image015\"<\/a><\/p>\n

The long term Barometer added 0.60 to 64.00. It remains Overbought.<\/p>\n

 <\/p>\n

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

\"clip_image016\"<\/a><\/p>\n

The intermediate term Barometer slipped 0.88 to 70.04. It remains Overbought and showing early signs of peaking.<\/p>\n

\"clip_image017\"<\/a><\/p>\n

The long term Barometer dropped 1.32 to 48.46. 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 Friday December 8th Equity index futures were lower this morning. S&P 500 futures were down 20 points at 8:35 AM EST Index futures dropped 12 points following release of the November Employment report at 8:30 AM EST. Consensus for November Non-farm Payrolls was an increase to 180,000 from 150,000 in October. Actual […]<\/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-172035","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/172035","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=172035"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/172035\/revisions"}],"predecessor-version":[{"id":172045,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/172035\/revisions\/172045"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=172035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=172035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=172035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}