{"id":172397,"date":"2023-12-20T02:22:00","date_gmt":"2023-12-20T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=172397"},"modified":"2023-12-20T08:54:26","modified_gmt":"2023-12-20T13:54:26","slug":"tech-talk-for-wednesday-december-20th-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/12\/20\/tech-talk-for-wednesday-december-20th-2023\/","title":{"rendered":"Tech Talk for Wednesday December 20th 2023"},"content":{"rendered":"

Pre-opening Comments for Wednesday December 20th<\/sup><\/strong><\/font><\/em><\/p>\n

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

FedEx<\/b> dropped $22.82 to $257.18 after reporting less than consensus second quarter results.<\/em><\/p>\n

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Steelcase<\/b> dropped $1.32 to $11.38 after the company offered lower than consensus fourth quarter revenue guidance.<\/em><\/p>\n

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General Mills<\/b> dropped $1.75 to $64.96 after the company lowered sales guidance. <\/em><\/p>\n

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Lowe\u2019s<\/b> dropped $2.71 to $222.71 after Stifel Nicolaus downgraded the stock from Buy to Hold<\/em><\/p>\n

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 <\/p>\n

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

TSX Composite Index<\/b> moved above resistance at 20,821.66 resuming an intermediate uptrend.<\/p>\n

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S&P\/TSX 60 Index<\/b> moved above resistance at 1,255.49 resuming an intermediate uptrend. <\/p>\n

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Global Timber and Forest Products iShares<\/b> $WOOD moved above $78.93 and $80.30 extending an intermediate uptrend. Canadian listed forest product stocks virtually exploded to the upside including CFP.TO, IFP.TO, DBM.TO and WFG.TO.<\/p>\n

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Metals and Mining iShares<\/b> $XME moved above $58.56 extending an intermediate uptrend. <\/p>\n

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TSX Capped Financials Index iShares<\/b> $XFN.TO moved above Cdn$47.24 extending an intermediate uptrend. <\/p>\n

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Check Point Software<\/b> $CHKP a NASDAQ 100 stock moved above $149.62 to an all-time high extending an intermediate uptrend. <\/p>\n

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Caterpillar <\/b>$CAT a Dow Jones Industrial Average stock moved above $149.62 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 Dec.18th<\/sup> 2023<\/p>\n

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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.18th<\/sup> 2023<\/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 Dec.19th<\/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

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

<\/b><\/p>\n

The Market Bears are WRONG! Stop Being Pessimistic | Trading Places (12.19.24)<\/b><\/p>\n

The Market Bears are WRONG! Stop Being Pessimistic | Trading Places (12.19.24) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Finally! Signs of Life in the Energy Sector | DecisionPoint trading Room (12.18.23)<\/b><\/p>\n

Finally! Signs of Life in the Energy Sector | DecisionPoint trading Room (12.18.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Magnificent Seven will lead tech higher: Wedbush’s Dan Ives<\/b><\/p>\n

Magnificent Seven will lead tech higher: Wedbush’s Dan Ives \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Top Five Charts of 2023 #2: Ten Year Treasury Yield | The Final Bar (12.19.23)<\/b><\/p>\n

Top Five Charts of 2023 #2: Ten Year Treasury Yield | The Final Bar (12.19.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 1.40 to 91.00. It remains Overbought. Daily data point reached a new 2023 high.<\/p>\n

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The long term Barometer added 3.60 to 78.60. It remains Overbought. Daily data point reached a new 2023 high.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 4.41 to 75.77. It remains Overbought.<\/p>\n

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The long term Barometer gained 4.85 to 58.59. It remains Neutral. Daily uptrend was extended.<\/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 Wednesday December 20th U.S. equity index futures were lower this morning. S&P 500 futures dropped 8 points at 8:30 AM EST. FedEx dropped $22.82 to $257.18 after reporting less than consensus second quarter results. Steelcase dropped $1.32 to $11.38 after the company offered lower than consensus fourth quarter revenue guidance. General Mills […]<\/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-172397","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/172397","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=172397"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/172397\/revisions"}],"predecessor-version":[{"id":172407,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/172397\/revisions\/172407"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=172397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=172397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=172397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}