{"id":182199,"date":"2024-12-17T19:38:42","date_gmt":"2024-12-18T00:38:42","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=182199"},"modified":"2024-12-18T08:51:12","modified_gmt":"2024-12-18T13:51:12","slug":"tech-talk-for-wednesday-december-18th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/12\/17\/tech-talk-for-wednesday-december-18th-2024\/","title":{"rendered":"Tech Talk for Wednesday December 18th 2024"},"content":{"rendered":"

Pre-opening Comments for Wednesday December 18th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning<\/b>. S&P 500 futures were up 16 points at 8:35 AM EST.<\/em><\/p>\n

S&P 500 futures slipped 2 points following release of November U.S. Housing Starts<\/b> at 8:30 AM EST. Consensus calls for an increase to 1.350 million units from 1.311 million units in October. Actual was1.289 million units<\/em><\/p>\n

FOMC\u2019s economic update<\/b> is released at 2:00 PM EST. Consensus calls for a drop in the Fed Fund Rate by 0.25%. Press conference is offered at 2:30 PM EST.<\/em><\/p>\n

MasterCard <\/b>added $2.99 to $534.00 after raising its dividend and after announcing a $12 billion share buyback program<\/em><\/p>\n

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Worthington Enterprises<\/b> advanced $5.50 to $43.70 after reporting higher than consensus fiscal second quarter results. <\/em><\/p>\n

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General Mills<\/b> dropped $1.97 to $63.96 after the company lowered its fiscal 2025 outlook.<\/em><\/p>\n

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EquityClock\u2019s Stock Market Outlook for December 18th<\/sup><\/strong><\/font><\/em><\/p>\n

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Evidence of a discerning consumer mentality remains readily apparent this holiday season, but better days could be ahead if post-election year tendencies prove to be correct. See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/12\/17\/stock-market-outlook-for-december-18-2024\/<\/em><\/a><\/p>\n

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

Agribusiness ETF <\/b>$MOO moved below $69.14 extending an intermediate downtrend. <\/p>\n

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US REIT iShares<\/b> $IYR moved below $96.06 completing a double top pattern.<\/p>\n

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Utilities SPDRs<\/b> $XLU moved below support at $76.78 setting an intermediate downtrend.<\/p>\n

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Home Builders SPDRs<\/b> $XHB moved below $111.95 completing a double top pattern.<\/p>\n

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S&P 100 and NASDAQ 100<\/b> stocks moving below support extending an intermediate downtrend included American Tower $AMT, Next Energy $NEE, CSX $CSX and Lowe\u2019s $LOW.<\/p>\n

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CAE<\/b> $CAE.TO a TSX 60 stock moved above Cdn$33.87 extending an intermediate uptrend.<\/p>\n

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Barrick Gold<\/b> $ABX a TSX 60 stock moved below Cdn$23.16 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 17th<\/sup> 2024<\/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

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<\/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 17th<\/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

Five KEY CHARTS to Watch for Fed Week: David Keller<\/b><\/p>\n

Five KEY CHARTS to Watch for Fed Week \u2013 YouTube<\/a><\/p>\n

SPX Internals Correcting While Price Stalls, Bulls Eye Big Tech: Schwab Network<\/b><\/p>\n

SPX Internals Correcting While Price Stalls, Bulls Eye Big Tech \u2013 YouTube<\/a><\/p>\n

Expect broadening of the market rally and rotation next year, says JPMorgan\u2019s Elyse Ausenbaugh<\/b><\/p>\n

Expect broadening of the market rally and rotation next year, says JPMorgan\u2019s Elyse Ausenbaugh \u2013 YouTube<\/a><\/p>\n

Why this financial expert say now is not a good time to buy stocks: John O\u2019Connell<\/b><\/p>\n

Why this financial expert say now is not a good time to buy stocks \u2013 YouTube<\/a><\/p>\n

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

Market ‘catching its breath’ for Santa Claus rally: Ryan Detrick<\/b><\/p>\n

Market ‘catching its breath’ for Santa Claus rally \u2013 YouTube<\/a><\/p>\n

Silver\u2019s Untapped Potential: $40 Price Tag Just the Beginning in 2025? Randy Smallwood<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=3NLKGaHEFoI<\/a><\/p>\n

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

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The intermediate term Barometer dropped another 6.20 to 39.00. It changed from Neutral to Oversold on a move below 40.00. Daily downtrend was extended.<\/p>\n

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The long term Barometer dropped another 0.60 to 63.00. It remains Overbought. Daily downtrend was extended.<\/p>\n

Editor\u2019s Note<\/b>: The 20 day momentum indicator $SPXA20R dropped to 22.20%, lowest level since April. However, signs of a low have yet to be determined.<\/em><\/p>\n

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

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The intermediate term Barometer dropped 1.83 to 34.70. It remains Oversold. Daily downtrend was extended.<\/p>\n

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The long term Barometer dropped 0.91 to 65.30. It remains Overbought. Daily downtrend was extended.<\/p>\n

Editor\u2019s Note<\/b>: The 20 day momentum indicator $TSXA20R dropped to 20.55%, lowest level since October 2023. However, signs of a low have yet to be determined<\/em>.<\/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 18th U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points at 8:35 AM EST. S&P 500 futures slipped 2 points following release of November U.S. Housing Starts at 8:30 AM EST. Consensus calls for an increase to 1.350 million units from 1.311 million units […]<\/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-182199","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/182199","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=182199"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/182199\/revisions"}],"predecessor-version":[{"id":182207,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/182199\/revisions\/182207"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=182199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=182199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=182199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}