Tech Talk for Friday December 29th 2023

U.S. equity index futures were mixed this morning. S&P 500 futures unchanged at 8:30 AM EST.

UnitedHealth Group added $3.10 to 528.00 after booking a $7 billion charge following a deal to sell its Brazil operations.

Jabil slipped $0.58 to $127.40 after lowering its fiscal second quarter outlook.

Expedia added $0.90 to $154.18 after Ascendiant Capital raised its target price from $133 to $168.

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Next report is to be released next year (!)   On Tuesday, January 2nd, 2024. Monday is a holiday in most equity markets.

Technical Notes

Lithium ETN $LIT moved above intermediate resistance at $51.00.

McDonald's $MCD a Dow Jones industrial Average stock moved above $295.98 to an all-time high extending an intermediate uptrend.

Amgen $AMGN an S&P 100 stock moved above $286.21 to an all-time high extending an intermediate uptrend.

Citigroup $C an S&P 100 stock moved above $51.55 extending an intermediate uptrend.

Early technical signs of encouragement by Chinese equities/related ETFs?

FXI moving above $23.82 completing a short term double bottom pattern!

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Dec.28th 2023

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for Dec.28th 2023

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Dec.28th 2023

Green: Increase from previous day

Red: Decrease from previous day

Link offered by a valued provider

David Rosenberg: Why the so-called soft landing is just the calm before the storm

David Rosenberg: Why the so-called soft landing is just the calm before the storm (msn.com)

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 0.60 to 89.60. It remains Overbought.

The long term Barometer added 0.60 to 79.00, a 27 month high. It remains Overbought. Daily trend remains up.

TSX Momentum Barometers

The intermediate term Barometer dropped 3.56 to 73.33. It remains Overbought.

The long term Barometer slipped 0.89 to 60.89. It remains Overbought.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com 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