{"id":182158,"date":"2024-12-17T08:36:53","date_gmt":"2024-12-17T13:36:53","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=182158"},"modified":"2024-12-17T08:59:18","modified_gmt":"2024-12-17T13:59:18","slug":"tech-talk-for-tuesday-december-17th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/12\/17\/tech-talk-for-tuesday-december-17th-2024\/","title":{"rendered":"Tech Talk for Tuesday December 17th 2024"},"content":{"rendered":"

Pre-opening Comments for Tuesday December 17th<\/sup><\/font><\/em><\/p>\n

U.S. equity index futures were lower this morning.<\/b> S&P 500 futures were down 25 points at 8:35 AM EST.<\/em><\/p>\n

S&P 500 futures were unchanged following release of November U.S. Retail Sales<\/b> at 8:30 AM EST. Consensus called for a 0.5% gain versus a 0.4% gain in October. Actual was a 0.7% gain. Excluding auto sales, consensus called for a 0.4% increase versus a 0.1% gain in October. Actual was a 0.2% gain.<\/em><\/p>\n

The Canadian Dollar was unchanged at US70.02 cents following release of Canada\u2019s November Consumer Price Index<\/b> at 8:30 AM EST. Consensus called for a 0.1% increase versus a 0.4% gain in October. Actual was unchanged. On a year-over-year basis, consensus called for a 2.1% increase versus a 2.2% gain in October. Actual was a 1.9% gain.<\/em><\/p>\n

Tesla<\/b> advanced $6.88 to an all-time high at $469.69 after Wedbush\u2019s Dan Ives raised his one year target price to $515 and set his long term target price at $650.<\/em><\/p>\n

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Amentum Holdings<\/b> gained $1.37 to $25.15 after reporting a higher than consensus fiscal fourth quarter profit. It also offered positive guidance.<\/em><\/p>\n

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Mitek Systems<\/b> advanced $1.51 to $11.00 after reporting higher than consensus fiscal fourth quarter revenues and earnings.<\/em><\/p>\n

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EquityClock\u2019s Stock Market Outlook for December 17th<\/sup><\/strong><\/font><\/em><\/p>\n

A short-term oversold reading is providing an enticing signal to buy\/add to equity exposure for the still ongoing rising intermediate-term trend of prices. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/12\/16\/stock-market-outlook-for-december-17-2024\/<\/em><\/a><\/p>\n

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

Global Base Metals iShares<\/b> $XBM.TO moved below Cdn$20.85 resuming an intermediate downtrend. The move below support was prompted by breakdowns by Southern Copper and Freeport McMoran. Southern Copper<\/b> $SCCO one of the largest copper miner in the world dropped below US$98.29 extending an intermediate downtrend. Freeport McMoran<\/b> $FCX largest U.S. copper miner dropped below US$42.00 extending an intermediate downtrend.<\/p>\n

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Global X Uranium ETF<\/b> $URA moved below $29.27 completing a double top pattern.<\/p>\n

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Nvidia<\/b> $NVDA an S&P 100 stock moved below $131.79 completing a Head & Shoulders pattern.<\/p>\n

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Caterpillar<\/b> $CAT a Dow Jones Industrial Average stock moved below $378.03 completing a double top pattern.<\/p>\n

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Canadian National Railway<\/b> $CNR.TO a TSX 60 stock moved below Cdn$146.53 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 16th<\/sup> 2024<\/p>\n

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

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

Source for all positive seasonality ratings: www.EquityClock.com<\/a><\/p>\n

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

Daily Seasonal\/Technical Commodities Trends for December 16th<\/sup> 2024<\/p>\n

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

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

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

Daily Seasonal\/Technical Sector Trends for December 16th<\/sup> 2024<\/p>\n

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

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

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

Fateful 8 = New Mag 7: Nvidia, Broadcom, Microsoft & Google Stocks In Focus: Dan Nathan, Carter Worth<\/b><\/p>\n

Fateful 8 = New Mag 7: Nvidia, Broadcom, Microsoft & Google Stocks In Focus \u2013 YouTube<\/a><\/p>\n

Outlook for Canadian equities in 2025: Brian Belski, Bank of Montreal<\/b><\/p>\n

Outlook for Canadian equities in 2025 \u2013 YouTube<\/a><\/p>\n

Outlook for U.S. equities in 2025: Brian Belski, Bank of Montreal<\/b><\/p>\n

Big technology stocks are the new consumer staples: BMO\u2019s Belski \u2013 YouTube<\/a><\/p>\n

Market Breadth & Seasonality’s Impact on SPX Consolidation: Schwab Network<\/b><\/p>\n

Market Breadth & Seasonality’s Impact on SPX Consolidation \u2013 YouTube<\/a><\/p>\n

U.S. Tax loss selling candidates: Wolfe<\/b><\/p>\n

Worst performing stocks for tax loss selling \u2013 Wolfe (S&P Complete Indices:SP500) | Seeking Alpha<\/a><\/p>\n

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

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The intermediate term Barometer dropped another 2.40 to 45.20. It remains Neutral. Daily downtrend was extended.<\/p>\n

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The long term Barometer dropped another 3.00 to 63.60. It remains Overbought. Daily downtrend was extended.<\/p>\n

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

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

The intermediate term Barometer dropped 5.94 to 36.53. It changed from Neutral to Oversold on a move below 40.00. Daily downtrend was extended.<\/p>\n

\"clip_image018\"<\/a><\/p>\n

The long term Barometer dropped 1.37 to 66.21. It remains Overbought. Daily downtrend was extended. <\/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 Tuesday December 17th U.S. equity index futures were lower this morning. S&P 500 futures were down 25 points at 8:35 AM EST. S&P 500 futures were unchanged following release of November U.S. Retail Sales at 8:30 AM EST. Consensus called for a 0.5% gain versus a 0.4% gain in October. Actual was […]<\/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-182158","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/182158","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=182158"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/182158\/revisions"}],"predecessor-version":[{"id":182166,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/182158\/revisions\/182166"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=182158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=182158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=182158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}