Tech Talk for Friday December 13th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade. Index futures responded to a first stage trade agreement between the U.S. and China and election of a majority government in the United Kingdom.

Index futures moved slightly higher following release of the November U.S. Retail Sales Report at 8:30 AM EST. Consensus was an increase of 0.5% versus an upwardly revised gain of 0.4% in October. Actual was an increase of 0.2%. Excluding auto sales, consensus for November U.S. Retail Sales was an increase of 0.4% versus an upwardly revised gain of 0.3% in October. Actual was an increase of 0.1%.

Costco slipped $1.59 to $295.75 despite reporting higher than consensus quarterly revenues and earnings.

Oracle dropped $1.30 to $55.17 after reporting lower than consensus fiscal second quarter revenues.

Adobe gained $8.03 to $313.99 after reporting higher than consensus quarterly revenues and earnings.

EquityClock's Daily Market Comment

Following is a link:
http://www.equityclock.com/2019/12/12/stock-market-outlook-for-december-13-2019/

Note seasonality charts on Weekly Initial Jobless Claims and U.S. Producer Prices.

Observations

The S&P 500 Index, Dow Jones Industrial Average and NASDAQ Composite Index moved to all-time highs on China/U.S. trade news

StockTwits released yesterday @EquityClock

Citigroup $C, an S&P 100 stock moved above $76.28 extending an intermediate uptrend.

S&P Bank SPDRs $KBE moved above $25.35 extending an intermediate uptrend.

S&P Regional Bank iShares $KRE moved above $57.33 extending an intermediate uptrend.

Berkshire Hathaway $BRK.B, an S&P 100 stock moved above $223.37 extending an intermediate uptrend

Europe iShares $IEV moved above $45.69 extending an intermediate uptrend

Verizon $VZ, a Dow Jones Industrial stock moved above $61.34 to an all-time high extending an intermediate uptrend.

Russia iShares $RSX moved above $25.35 extending an intermediate uptrend.

McDonalds $MCD, a Dow Jones Industrial stock moved above $196.74 and $196.54 completing a short term base building pattern.

ConocoPhillips $COP, an S&P 100 stock moved above $62.74 extending an intermediate uptrend

Microchip Technologies $MCHP, a NASDAQ 100 moved above $101.17 extending an intermediate uptrend

Technology SPDRs $XLK moved above $88.42 to an all-time high extending an intermediate uptrend.

Eurozone iShares $EZU moved above $41.19 extending an intermediate uptrend

EAFE iShares $EFA moved above $66.69 extending an intermediate uptrend

Global Timber and Forestry iShares $WOOD moved above $65.77 extending an intermediate uptrend.

S&P Retail SPDRs $XRT moved above $45.41 extending an intermediate uptrend

Materials SPDRs $XLB moved above $60.81 extending an intermediate uptrend

United Kingdom iShares $EWU moved above $33.17 extending an intermediate uptrend

Emerging Markets iShares $EEM moved above $44.25 extending an intermediate uptrend

Ford $F, an S&P 100 stock moved above $9.24 setting an intermediate uptrend

Met Life $MET, an S&P 100 stock moved above 450.21 to an all-time high extending an intermediate uptrend.

Activision $ATVI, a NASDAQ 100 stock moved above $57.52 extending an intermediate uptrend

Another base metals stock breakout! Lundin Mining $LUN.CA moved above $7.71 extending an intermediate uptrend.

Simon Properties Group $SPG, an S&P 100 stock and one of the largest REITs in the U.S. moved below $143.00 extending an intermediate downtrend.

U.S. REIT iShares $IYR moved below $90.64 completing a Head & Shoulders pattern.

American Express $AXP, a Dow Jones Industrial stock moved above $122.43 resuming an intermediate uptrend.

Brazil iShares $EWZ moved above $45.58 extending an intermediate uptrend

Advanced Micro Devices $AMD, a NASDAQ 100 stock moved above $41.79 to a 13 year high extending an intermediate uptrend.

Chile iShares $ECH moved above $33.73 completing a double bottom pattern. Responding to higher copper prices and the China story.

Lam Research $LRCX, a NASDAQ 100 stock moved above $284.65 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 12th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 12th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 12th 2019

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 4.01 to 73.55 yesterday. It remains intermediate overbought.

TSX Momentum Barometer

The Barometer slipped 2.51 to 62.91 yesterday. It remains intermediate overbought.

Disclaimer: Seasonality 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

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