Tech Talk for Friday December 13th 2024

U.S. equity index futures are higher this morning. D&P 500 futures were up 23 points at 8:30 AM EST.

Donald Trump's victory in the November elections, the prospect of interest rate cuts and record inflows into U.S. stock markets have put the S&P 500 index on course for a 'Santa rally' in the final few trading sessions of 2025, Goldman Sachs' leading technical strategist has said. See:

https://www.marketwatch.com/story/record-inflows-into-u-s-stocks-to-drive-santa-rally-in-last-days-of-2024-goldman-says-bf243f94?mod=newsviewer_click

Broadcom advanced $8.69 to $189.25 after reporting higher than consensus fiscal first quarter results. The company also raised its quarterly dividend by 11%.

Costco dropped $4.39 to $984.00 after reporting slightly less than consensus fiscal first quarter revenues

RH advanced $70.78 to $452.16 after offering positive fourth quarter guidance

EquityClock's stock market outlook for December 13th

Initial claims surged last week to the highest level for the start of December since 2020, amidst the pandemic. See:

https://equityclock.com/2024/12/12/stock-market-outlook-for-december-13-2024/

Michael Campbell's Money Talks

Don Vialoux is a guest on Michael Campbell's weekly show to be released at 8:30 AM Vancouver Time this Saturday (11:30 AM EST). Topic is "Stock Market Outlook for 2025". Link is Michael Campbell's MoneyTalks - Complete Show (mikesmoneytalks.ca)

Technical Notes

Steel ETF $SLX moved below $67.86 completing a double top pattern.

U.S. Healthcare Providers iShare $IHF move below $50.16 extending an intermediate downtrend.

CVS Health $CVS an S&P 100 stock moved below $51.61 extending an intermediate downtrend.

DR Horton $DHI an S&P 100 stock moved below $155.62 extending an intermediate downtrend.

Match Group $MTCH a NASDAQ 100 stock moved below $30.06 extending an intermediate downtrend.

Rogers Communications $RCI.B.TO a TSX 60 stock moved below Cdn$47.75 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 12th 2024

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 December 12th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 12th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

2025 economic outlook for Canada: Beata Caranci, Toronto Dominion Bank economist

2025 economic outlook for Canada - YouTube

Top investing strategies for 2025: Lyle Stein

Top investing strategies for 2025 - YouTube

Goldman’s Kostin on Stock Market Outlook, Investment Strategy

Goldman’s Kostin on Stock Market Outlook, Investment Strategy - YouTube

Citi’s outlook for commodities in 2025: Max Layton

Citi’s outlook for commodities in 2025 - YouTube

'Unbelievably Nasty Downturn' In Q1: Gareth Soloway On Best And Worst Assets Of 2025

'Unbelievably Nasty Downturn' In Q1: Gareth Soloway On Best And Worst Assets Of 2025 - YouTube

TSX/CGF International Oil and Gas Day: Josef Schachter presentation.

PowerPoint Presentation (schachterenergyreport.ca)

TSLA Leads the Charge in Growth Stock Rally: Tom Bowley

TSLA Leads the Charge in Growth Stock Rally - YouTube

Chart Check on Big Banks: How to Trade into 2025: Guy Adami, Dan Nathan and Carter Worth

Chart Check on Big Banks: How to Trade into 2025 - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 1.60 to 50.50. It remains Neutral. Daily downtrend was extended.

The long term Barometer slipped 0.40 to 67.40. It remains Overbought. Daily downtrend was extended.

TSX Momentum Barometers

The intermediate term Barometer dropped 6.39 to 53.42. It remains Neutral.

The long term Barometer dropped 2.28 to 70.32. 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