{"id":181926,"date":"2024-12-08T20:25:26","date_gmt":"2024-12-09T01:25:26","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=181926"},"modified":"2024-12-09T08:41:50","modified_gmt":"2024-12-09T13:41:50","slug":"tech-talk-for-monday-december-9th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/12\/08\/tech-talk-for-monday-december-9th-2024\/","title":{"rendered":"Tech Talk for Monday December 9th 2024"},"content":{"rendered":"

Pre-opening Comments for Monday December 9th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning<\/b>. S&P 500 futures were down 3 points at 8:30 AM EST<\/em><\/p>\n

Interpublic<\/b> advanced $4.20 to $33.46 on reports that it will merge with Omnicom.<\/em><\/p>\n

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Apollo <\/b>gained $11.15 to $189.00 on news that its shares will join the S&P 500 on December 23rd<\/sup><\/p>\n

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Workday<\/b> added $24.08 to $290.50 on news that its shares will join the S&P 500 on December 23rd<\/sup><\/p>\n

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EquityClock\u2019s Stock Market Outlook for December 9th<\/sup><\/strong><\/font><\/p>\n

The second largest surge in Canadian unemployment in the past four decades highlights a labour market that is struggling. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/12\/07\/stock-market-outlook-for-december-9-2024\/<\/em><\/a><\/p>\n

Technical Scoop<\/strong><\/font> for December 9th<\/sup> from David Chapman and <\/font><\/em>www.EnrichedInvesting.com<\/font><\/em><\/a><\/p>\n

https:\/\/enrichedinvesting.com\/library\/<\/em><\/a><\/p>\n

The Bottom Line<\/strong><\/font><\/p>\n

U.S. economic focuses this week<\/b> are on November CPI released on Wednesday and November PPI released on Thursday.<\/p>\n

Canadian focus<\/b> is on the Bank of Canada\u2019s interest rate decision on Wednesday. Consensus calls for at least a 0.25 basis point reduction.<\/p>\n

Consensus for Earnings and Revenues by S&P 500 companies<\/strong><\/font><\/p>\n

Source: www.factset.com<\/a><\/p>\n

Earnings and revenue gains accelerate in the fourth quarter from the third quarter, but at a slightly lower rate than offered three weeks ago. (November 25th<\/sup>). <\/b>Consensus calls for an 11.9% earnings increase (down from previous 12.0%) and a 4.8% revenue increase (up from previous 4.7%).<\/p>\n

For all of 2024<\/b>, consensus calls for a 9.6% earnings increase (up from previous 9.4%) and a 5.1% revenue increase (up from previous 5.0%).<\/p>\n

Consensus for earnings gains in 2025 remains elevated and moved higher from the November 25th<\/sup> report.<\/b> First quarter earnings are expected to increase 12.8 % on a year-over-year basis (up from previous 12.7%) and revenues are expected to increase 5.2%. Second quarter earnings are expected to increase 12.1% and revenues are expected to increase 5.4% (down from previous 5.7%). Third quarter earnings are expected to increase 15.2% and revenues are expected to increase 5.7%. Fourth quarter earnings are expected to increase 16.9% and revenues are expected to increase 6.6%. For all of 2025 earnings are expected to increase 15.0% and revenues are expected to increase 5.7% (down from previous 5.8%)<\/p>\n

Economic News This Week<\/strong><\/font><\/p>\n

Third quarter U.S. Non-farm Productivity<\/b> is released at 8:30 AM EST on Tuesday<\/p>\n

November U.S. Consumer Price Index<\/b> is released at 8:30 AM EST on Wednesday<\/p>\n

Bank of Canada interest rate decision<\/b> is released at 9:45 AM EST on Wednesday<\/p>\n

November U.S. Producer Price Index<\/b> is released at 8:30 AM EST on Thursday<\/p>\n

Selected Earnings News This Week<\/strong><\/font><\/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 6th<\/sup> 2024<\/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

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

Daily Seasonal\/Technical Commodities Trends for December 6th<\/sup> 2024<\/p>\n

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

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

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

Daily Seasonal\/Technical Sector Trends for December 6th<\/sup> 2024<\/p>\n

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

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

Changes Last Week<\/strong><\/font><\/p>\n

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<\/p>\n

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

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

Healthcare Providers iShares<\/b> $IHF moved below $51.99 extending an intermediate downtrend. Responded to murder of UnitedHealth Group\u2019s CEO<\/p>\n

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UnitedHealth Group<\/b> $UNH a Dow Jones Industrial Average stock moved below$576.77 completing a double top pattern. <\/p>\n

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IBM <\/b>$IBM a Dow Jones Industrial Average stock moved above $235.51 to an all-time high extending an intermediate uptrend.<\/p>\n

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Diamondback Energy<\/b> $FANG a NASDAQ 100 stock moved below $204.07 extending an intermediate downtrend.<\/p>\n

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Emera<\/b> $EMA.TO a TSX 60 stock moved above Cdn$55.90 to an all-time high extending an intermediate uptrend. <\/p>\n

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Cenovus <\/b>$CVE.TO a TSX 60 stock moved below Cdn$21.35 extending an intermediate downtrend. <\/p>\n

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

Michael Campbell\u2019s Money Talks for December 7th<\/sup> 2024<\/p>\n

Michael Campbell\u2019s MoneyTalks \u2013 Complete Show (mikesmoneytalks.ca)<\/a><\/p>\n

CHART THIS with David Keller, CMT Friday 12\/6\/24 <\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=vPcOv0lbuuM<\/a><\/p>\n

What’s The Outlook For December AND For 2025? Tom Bowley<\/b><\/p>\n

Note seasonality comment<\/b><\/p>\n

What’s The Outlook For December AND For 2025? | Trading Places with Tom Bowley | StockCharts.com<\/a><\/p>\n

Double Top on Industrials (XLI); Erin Swenlin<\/b><\/p>\n

Double Top on Industrials (XLI) | DecisionPoint | StockCharts.com<\/a><\/p>\n

Market sentiment could be a threat to the bull market in early 2025, says Renaissance’s Jeff deGraaf. Note comment on seasonality<\/b><\/p>\n

Market sentiment could be a threat to the bull market in early 2025, says Renaissance’s Jeff deGraaf \u2013 YouTube<\/a><\/p>\n

How Long Can Stock Markets Keep Climbing?<\/b> Bob Hoye<\/b><\/p>\n

How Long Can Stock Markets Keep Climbing? \u2013 HoweStreet<\/a><\/p>\n

What Could Bitcoin\u2019s Short Term High Be?<\/b> Mark Leibovit<\/b><\/p>\n

What Could Bitcoin\u2019s Short Term High Be? \u2013 HoweStreet<\/a><\/p>\n

Trading Desk Notes for December 7, 2024 Victor Adair<\/b><\/p>\n

Trading Desk Notes for December 7, 2024 \u2013 HoweStreet<\/a><\/p>\n

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

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The intermediate term Barometer dropped 0.80 on Friday and 12.60 last week to 58.40. It changed from Overbought to Neutral on a drop below 60.00. Daily trend is down.<\/p>\n

\"clip_image020\"<\/a><\/p>\n

The long term Barometer dropped 1.20 on Friday and dropped 4.80 last week to 71.20. It remains Overbought. Daily trend is down.<\/p>\n

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

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The intermediate term Barometer dropped 8.22 on Friday and 8.22 last week to 56.62. It changed from Overbought to Neutral on a drop below 60.00. <\/p>\n

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The long term Barometer dropped 3.65 on Friday 4.56 last week to 70.78. It remains Overbought.<\/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 Monday December 9th U.S. equity index futures were lower this morning. S&P 500 futures were down 3 points at 8:30 AM EST Interpublic advanced $4.20 to $33.46 on reports that it will merge with Omnicom. Apollo gained $11.15 to $189.00 on news that its shares will join the S&P 500 on December […]<\/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-181926","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181926","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=181926"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181926\/revisions"}],"predecessor-version":[{"id":181934,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/181926\/revisions\/181934"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=181926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=181926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=181926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}