{"id":172467,"date":"2023-12-22T02:22:00","date_gmt":"2023-12-22T07:22:00","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=172467"},"modified":"2023-12-22T08:46:38","modified_gmt":"2023-12-22T13:46:38","slug":"tech-talk-for-friday-december-22nd-2023","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2023\/12\/22\/tech-talk-for-friday-december-22nd-2023\/","title":{"rendered":"Tech Talk for Friday December 22nd 2023"},"content":{"rendered":"

Pre-opening Comments for Friday December 22nd<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 2 points at 8:35 AM EST.<\/em><\/p>\n

Index futures were unchanged following release of economic data at 8:30 AM EST<\/b>:<\/em><\/p>\n

November Durable Goods Orders<\/b> were expected to increase 1.7% versus a decline of 5.4% in October. Actual was an increase of 5.4%.<\/em><\/p>\n

November Core PCE Price Index<\/b> was expected to increase 0.2% versus a gain of 0.2% in October. Actual was an increase of 0.1%. On a year-over-year basis, the November Core Index was expected to increase 3.4% versus a gain of 3.5% in October. Actual was an increase of 3.2%<\/em><\/p>\n

November Personal Spending<\/b> was expected to increase 0.4% versus a gain of 0.2% in October. Actual was an increase of 0.4%. November Personal Income <\/b>was expected to increase 0.2% versus a gain of 0.2% in October. Actual was an increase of 0.2%<\/em><\/p>\n

October Canadian GDP<\/b> released at 8:30 AM EST was expected to increase 0.2% versus a gain of 0.1% in September. Actual was unchanged.<\/em><\/p>\n

Nike<\/b> dropped $8.10 to $114.43 after warned about a softer fiscal second half outlook. CFRA downgraded the stock from Neutral to Sell.<\/em><\/p>\n

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Foot Locker<\/b>, a major distributor of Nike products dropped $1.55 to $30.75<\/em><\/p>\n

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

Karuna<\/b> advanced $101.12 to $316.31 after Bristol-Myers offered to purchase the company for $330 per share cash. Value of the offer is $14 billion.<\/em><\/p>\n

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 <\/p>\n

Next Tech Talk report is scheduled for release<\/font> <\/font><\/strong><\/font><\/em><\/p>\n

on Wednesday December 27th<\/sup><\/font><\/strong><\/font><\/em><\/p>\n

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

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

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

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

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

Base metals equity ETFs<\/b> (e.g. XBM.TO and $PICK) moved higher with rising base metals prices:<\/p>\n

VALE <\/b>$VALE one of the world\u2019s largest base metals producers moved above $15.55 extending an intermediate uptrend.<\/p>\n

Southern Copper<\/b> $SCCO one of the world\u2019s largest copper producers moved above $85.38 to an all-time high extending an intermediate uptrend. <\/p>\n

BHP Group<\/b> $BHP one of the world\u2019s largest base metals producers moved above $67.58 to an all-time high extending an intermediate uptrend.<\/p>\n

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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.21st<\/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.21st<\/sup> 2023<\/p>\n

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Green: Increase from previous day<\/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.21st<\/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

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

Michael Campbell\u2019s Money Talks<\/strong><\/font><\/p>\n

Michael has recorded his \u201c2024 Outlook\u201d show. Webcast is available tomorrow after 8:30 AM Pacific time (11:30 AM Eastern time). Don Vialoux is one of the presenters. Following is a link:<\/p>\n

https:\/\/mikesmoneytalks.ca\/category\/mikes-content\/complete-show\/<\/a><\/p>\n

 <\/p>\n

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

Defensive Stocks Trigger Broad Selloff | Trading Places (12.21.23)<\/b><\/p>\n

Defensive Stocks Trigger Broad Selloff | Trading Places (12.21.23) \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Sectors to Watch in 2024: Guy Adami and Dan Nathan<\/b><\/p>\n

Sectors to Watch in 2024 \u2013 YouTube<\/a><\/p>\n

 <\/p>\n

Gold stocks trading at 50% of their value, expect 2024 to be a catchup year: Pierre Lassonde<\/b><\/p>\n

Gold stocks trading at 50% of their value, expect 2024 to be a catchup year: Pierre Lassonde \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 3.60 to 89.20. It remains Overbought.<\/p>\n

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The long term Barometer added 3.60 to 75.80. It remains Overbought.<\/p>\n

 <\/p>\n

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

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The intermediate term Barometer added 2.40 to 72.44. It remains Overbought.<\/p>\n

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The long term Barometer added 5.38 to 60.44. It changed from Neutral to Overbought on a move above 60.00.<\/p>\n

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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 22nd U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points at 8:35 AM EST. Index futures were unchanged following release of economic data at 8:30 AM EST: November Durable Goods Orders were expected to increase 1.7% versus a decline of 5.4% in October. Actual […]<\/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-172467","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/172467","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=172467"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/172467\/revisions"}],"predecessor-version":[{"id":172475,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/172467\/revisions\/172475"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=172467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=172467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=172467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}