{"id":182244,"date":"2024-12-18T19:44:08","date_gmt":"2024-12-19T00:44:08","guid":{"rendered":"https:\/\/timingthemarket.ca\/techtalk\/?p=182244"},"modified":"2024-12-19T08:51:21","modified_gmt":"2024-12-19T13:51:21","slug":"tech-talk-for-thursday-december-19th-2024","status":"publish","type":"post","link":"https:\/\/timingthemarket.ca\/techtalk\/2024\/12\/18\/tech-talk-for-thursday-december-19th-2024\/","title":{"rendered":"Tech Talk for Thursday December 19th 2024"},"content":{"rendered":"

Pre-opening Comments for Thursday December 19th<\/sup><\/strong><\/font><\/em><\/p>\n

U.S. equity index futures were higher this morning.<\/b> S&P 500 futures were up 46 points at 8:35 AM EST.<\/em><\/p>\n

S&P 500 futures were unchanged following release of updated U.S. Third Quarter GDP<\/b> and the December Philly Fed Index<\/b> at 8:30 AM EST. Consensus for annualized third quarter GDP was a 2.8% gain. Actual was a 3.1% gain. Consensus for the December Philly Fed Index was +2.5 versus -5.5 in November. Actual was -16.4<\/em><\/p>\n

Lennar<\/b> dropped $8.93 to $137.00 after reporting less than consensus fiscal fourth quarter results. The company also lowered guidance for the first quarter.<\/em><\/p>\n

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Micron plunged $14.20 to $89.70<\/b> after lowering first quarter guidance. <\/em><\/p>\n

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MillerKnoll <\/b>dropped $3.33 to $21.00 after reporting less than consensus second quarter orders and sales<\/em><\/p>\n

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Accenture <\/b>advanced $21.11 to 368.72 after reporting higher than consensus fiscal first quarter results. The company also offered positive guidance.<\/em><\/p>\n

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EquityClock\u2019s Stock Market Outlook for December 19th<\/sup><\/strong><\/font><\/em><\/p>\n

Did the US Fed just kibosh the Santa Claus rally? See:<\/em><\/b><\/p>\n

https:\/\/equityclock.com\/2024\/12\/18\/stock-market-outlook-for-december-19-2024\/<\/em><\/a><\/p>\n

FOMC announcement at 2:00 PM EST yesterday<\/strong><\/font><\/p>\n

Fed Fund Rate was lowered by 0.25% to 4.25%-4.50%.<\/b> Market responses were as follows:<\/p>\n

S&P 500 Index<\/b> plunged after 2:00 PM EST<\/p>\n

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Yield on 10 year U.S. Treasuries<\/b> spiked higher<\/p>\n

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U.S. Dollar ETN<\/b> spiked higher<\/p>\n

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The VIX Index spiked<\/b><\/p>\n

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Canadian Dollar<\/b> plunged<\/p>\n

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Gold ETN<\/b> and Gold Miners ETFs<\/b> plunged. <\/p>\n

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Technical Notes<\/p>\n

Australia iShares $EWA<\/b> moved below $24.65 completing a Head & Shoulders pattern.<\/p>\n

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Global Timber and Forestry iShares<\/b> $WOOD moved below $77.80 extending an intermediate downtrend.<\/p>\n

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Silver iShares<\/b> $SLV moved below $27.32 and Silver Miners ETF<\/b> $SIL moved below $34.48 and $34.37 completing a Head & Shoulders patterns.<\/p>\n

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Aerospace & Defense ETF<\/b> $PPA moved below $116.80 completing a double top pattern.<\/p>\n

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S&P 100 and NASDAQ 100 stocks<\/b> moving below support setting intermediate downtrends included Schlumberger <\/b>on a move below $38.42, Pepsico <\/b>ona move below $154.53, Monster Beverage<\/b> on a move below $51.72, ADP<\/b> on a move below $293.54, MercadoLibre<\/b> on a move below $1,749.91, Capital One<\/b> on a move below $179.08, Travellers<\/b> on a move below $240.86, Roper Technologies<\/b> on a move below $533.31, Bank of New York Mellon<\/b> on a move below $77.06, Union Pacific on a move below $226.25, Applied Materials<\/b> on a move below $166.46, Caterpillar<\/b> on a move below $367.20, CDW<\/b> on a move below $172.35, Advanced Micro Devices <\/b>on a move below $121.82, Oracle<\/b> on a move below $167.46, Palo Alto on a move below $187.60, MongoDB<\/b> on a move below $250.26, Exxon Mobil<\/b> on a move below $106.43, Caterpillar <\/b>on a move below $367.20 and Oracle<\/b> on a move below $167.46.<\/p>\n

TSX 60 stocks <\/b>moving below support setting intermediate downtrends included<\/b><\/p>\n

Saputo <\/b>on a move below Cdn$25.42, Open Text<\/b> on a move below US27.65, Wheaton Precious<\/b> Metals on a move below US$58.14, Teck Resources<\/b> on a move below $58.30 and Kinross Gold<\/b> on a move below US$9.16<\/p>\n

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 18th<\/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 18th<\/sup> 2024<\/p>\n

\"clip_image016\"<\/a><\/b> <\/b><\/p>\n

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

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

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

Daily Seasonal\/Technical Sector Trends for December 18th<\/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

There’s a lot of sector rotation ahead, says Charles Schwab’s Liz Ann Sonders<\/b><\/p>\n

There’s a lot of sector rotation ahead, says Charles Schwab’s Liz Ann Sonders \u2013 YouTube<\/a><\/p>\n

You have a 72% chance of making money in stocks in 2025: Marketwatch<\/b><\/p>\n

https:\/\/www.marketwatch.com\/story\/you-have-a-72-chance-of-making-money-in-stocks-in-2025-ab451d86?mod=mw_pushly&send_date=20241218<\/a><\/p>\n

Will the QQQ Sell Off in January 2025? Here’s How it Could Happen! David Keller<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=7w9Qgojf6S8<\/a><\/p>\n

Use this ADX Strategy on Stocks for BIG WINS! Joe Rabil<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=SaIBopww1cg<\/a><\/p>\n

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

Decision Day For The Fed: Where Do Markets Go From Here? Dan Nathan and Liz Young<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=68e1pMbT0W0<\/a><\/p>\n

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

CHART THIS with David Keller, CMT Wednesday 12\/18\/24<\/b><\/p>\n

https:\/\/www.youtube.com\/watch?v=E30YF2YXnaY<\/a><\/p>\n

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

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The intermediate term Barometer plunged 19.00 to 20.00., the lowest level since March 2023. It changed from Neutral to Oversold. Daily downtrend was extended. <\/p>\n

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The long term Barometer dropped 7.80 to 55.20. It changed from Overbought to Neutral on a drop below 60. Daily trend is down.<\/p>\n

P.S.<\/strong> Short term Barometer dropped to 8.00, lowest level since April.<\/em><\/p>\n

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

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The intermediate term Barometer plunged 10.05 to 24.66. It changed from Neutral to Oversold on a move below 40.00. Daily downtrend was extended. <\/p>\n

\"clip_image022\"<\/a><\/p>\n

The long term Barometer dropped 5.48 to 59.82. It changed from Overbought to Neutral on a drop below 60.00. Daily downtrend was extended.<\/p>\n

P.S<\/strong> Short term Barometer (20 day) dropped 14.20 to 8.00, lowest level since October 2023<\/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 Thursday December 19th U.S. equity index futures were higher this morning. S&P 500 futures were up 46 points at 8:35 AM EST. S&P 500 futures were unchanged following release of updated U.S. Third Quarter GDP and the December Philly Fed Index at 8:30 AM EST. Consensus for annualized third quarter GDP 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-182244","post","type-post","status-publish","format-standard","hentry","category-reports"],"_links":{"self":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/182244","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=182244"}],"version-history":[{"count":2,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/182244\/revisions"}],"predecessor-version":[{"id":182254,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/posts\/182244\/revisions\/182254"}],"wp:attachment":[{"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/media?parent=182244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/categories?post=182244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/timingthemarket.ca\/techtalk\/wp-json\/wp\/v2\/tags?post=182244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}