{"id":181885,"date":"2024-12-05T20:01:04","date_gmt":"2024-12-06T01:01:04","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=181885"},"modified":"2024-12-06T08:59:55","modified_gmt":"2024-12-06T13:59:55","slug":"tech-talk-for-friday-december-6th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/12\/05\/tech-talk-for-friday-december-6th-2024\/","title":{"rendered":"Tech Talk for Friday December 6th 2024"},"content":{"rendered":"

Pre-opening Comments for Friday December 6th<\/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 8:35 AM EST.<\/em><\/p>\n

Index futures advanced 11 points following release of the November U.S. Employment Report <\/b>at 8:30 AM EST.<\/b> November Non-farm Payrolls were expected to increase 220,000 versus a gain of 12,000 in October. Actual was 227,000. November Unemployment Rate was expected to remain unchanged from October at 4.1%. Actual was a 0.1% increase to 4.2%. November Average Hourly Earnings were expected to increase 0.3% versus a gain of 0.4% in October. Actual was a 0.4% increase.<\/em><\/p>\n

The Canadian Dollar added 0.05 to US71.12 cents following release of Canada\u2019s November Employment Report <\/b>at 8:30 AM EST. Consensus for November employment was a 27,000 increase. Actual was a 50,500 increase. Consensus for the November Unemployment Rate was unchanged at 6.6%. Actual was an increase to 6.8%.<\/em><\/p>\n

Lulu Lemon<\/b> advanced $11.19 to $356.00 after reporting higher than consensus third quarter revenues. The company also announced a $1 billion share buyback program.<\/em><\/p>\n

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DocuSign<\/b> advanced $10.32 to $94.00 after reporting higher than consensus third quarter revenues. <\/em><\/p>\n

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Rubrik<\/b> jumped $10.15 to $64.00 after reporting higher than consensus third quarter revenues. The company also announced a 55% increase in subscriptions.<\/em><\/p>\n

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EquityClock\u2019s Stock Market Outlook for December 6th<\/sup><\/strong><\/font><\/em><\/p>\n

Bitcoin has crossed above $100,000, but we have our eye on another cryptocurrency as a better bet through the months ahead. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/12\/05\/stock-market-outlook-for-december-6-2024\/<\/em><\/a><\/p>\n

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

Johnson & Johnson<\/b> $JNJ a Dow Jones Industrial Average stock moved below $149.56 extending an intermediate downtrend. <\/p>\n

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First Quantum Minerals<\/b> $FM.TO a TSX 60 stock moved above Cdn$20.76 extending an intermediate uptrend.<\/p>\n

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George Weston<\/b> $WN.TO a TSX 60 stock moved above Cdn$236.30 to an all-time high extending an intermediate uptrend. The company owns a controlling interest in Loblaws<\/p>\n

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Loblaw Companies<\/b> $L.TO a TSX 60 stock moved above Cdn$188.77 to an all-time high extending an intermediate uptrend.<\/p>\n

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Bank of Montreal<\/b> $BMO.TO a TSX 60 stock moved above Cdn$135.85 to an all-time high extending an intermediate uptrend. <\/p>\n

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Toronto Dominion Bank<\/b> $TD.TO a TSX 60 stock moved below Cdn$75.90 extending an intermediate downtrend.<\/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 December 5th<\/sup> 2024<\/p>\n

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Green: Increase from previous day<\/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

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

Daily Seasonal\/Technical Commodities Trends for December 5th<\/sup> 2024<\/p>\n

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

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

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

Daily Seasonal\/Technical Sector Trends for December 5th<\/sup> 2024<\/p>\n

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

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

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

Bitcoin’s breakout is a precursor for equities through year-end, says Fundstrat’s Tom Lee<\/b><\/p>\n

Bitcoin’s breakout is a precursor for equities through year-end, says Fundstrat’s Tom Lee \u2013 YouTube<\/a><\/p>\n

How Trump’s presidency could benefit Canada<\/b><\/p>\n

How Trump’s presidency could benefit Canada \u2013 YouTube<\/a><\/p>\n

TD Bank suspends three 2025 financial targets<\/b><\/p>\n

TD Bank suspends three 2025 financial targets \u2013 YouTube<\/a><\/p>\n

SPX Nears Key Inflection Point, Both Technically & Structurally: Schwab Network<\/b><\/p>\n

SPX Nears Key Inflection Point, Both Technically & Structurally \u2013 YouTube<\/a><\/p>\n

Expect an S&P 500 in the 0-10% range in 2025, says Wharton’s Jeremy Siegel<\/b><\/p>\n

Expect an S&P 500 in the 0-10% range in 2025, says Wharton’s Jeremy Siegel \u2013 YouTube<\/a><\/p>\n

Goldman Sachs: S&P 500 will reach $6,500 by year-end 2025<\/b><\/p>\n

Goldman Sachs: S&P 500 will reach $6,500 by year-end 2025 \u2013 YouTube<\/a><\/p>\n

Outlook for oil and energy markets BNN<\/b><\/p>\n

Outlook for oil and energy markets \u2013 YouTube<\/a><\/p>\n

Global economic outlook for 2025: Charles Schwab<\/b><\/p>\n

Global economic outlook for 2025 \u2013 YouTube<\/a><\/p>\n

OPEC+ extends production cuts: BNN<\/b><\/p>\n

OPEC+ extends production cuts \u2013 YouTube<\/a><\/p>\n

CHART THIS with David Keller, CMT Thursday 12\/5\/24<\/b><\/p>\n

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

Get Ahead of 2025 Stock Trends! Joe Rabil<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=qadp5Wd0Kv4<\/a><\/p>\n

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

Breakouts Galore! Keep These Stocks On Your Radar! Tom Bowley<\/b><\/p>\n

Breakouts Galore! Keep These Stocks On Your Radar! \u2013 YouTube<\/a><\/p>\n

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

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

The intermediate term Barometer dropped 3.40 to 59.20. It changed from Overbought to Neutral on a drop below 60.00.<\/p>\n

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The long term Barometer dropped 1.20 to 72.40. It remains Overbought.<\/p>\n

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

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The intermediate term Barometer was unchanged at 64.84. It remains Overbought.<\/p>\n

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The long term Barometer dropped 1.82 to 74.43. It remains Overbought.<\/p>\n

Disclaimer:<\/b> Seasonality ratings and technical ratings offered in this report and at<\/em><\/p>\n

www.equityclock.com<\/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<\/p>\n","protected":false},"excerpt":{"rendered":"

Pre-opening Comments for Friday December 6th U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points at 8:35 AM EST. Index futures advanced 11 points following release of the November U.S. Employment Report at 8:30 AM EST. November Non-farm Payrolls were expected to increase 220,000 versus a gain of 12,000 […]<\/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-181885","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181885","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=181885"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181885\/revisions"}],"predecessor-version":[{"id":181893,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181885\/revisions\/181893"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=181885"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=181885"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=181885"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}