Tech Talk for Friday December 14th 2018

U.S. equity index futures were lower this morning. S&P 500 futures were down 27 points in pre-opening trade.

Index futures were virtually unchanged following release of November Retail Sales at 8:30 AM EST. Consensus was an increase of 0.2% versus an upwardly revised gain of 1.1% in October. Actual was an increase of 0.2%.

The Shanghai Composite Index dropped 40 points to 2,594 after China's November industrial output and retail sales were reported below consensus.

Tesla (TSLA $376.79) is expected to open higher after Wedbush upgraded the stock to Outperform. Target is $440.

Starbucks (SBUX $66.91) is expected to open lower after the company lowered long term guidance.

Costco (COST $226.51) is expected to open lower after the company reported lower than consensus fiscal first quarter sales and earnings.

Adobe (ADBE $) is expected to open lower after reporting lower than consensus fiscal fourth quarter revenues.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/12/13/stock-market-outlook-for-december-14-2018/

Note seasonality chart on the TSX Composite Index

StockTwits Released Yesterday @EquityClock

Silver equity ETF $SIL moved above $24.38 completing a double bottom pattern.

Editor's Note: 'Tis the season for strength in Silver and Silver equities to the end of February!

Technical action by S&P 500 stocks to 10:00: Quiet. Intermediate breakout: $KMB. Breakdown: $HBI

Editor's Note: After 10:00, no additional breakouts. Breakdowns: HOG, MAT, WDC, NUE, ROL and CHRW.

Shanghai Composite $SSEC closed last night at 2634, nicely above its 20 and 50 day moving averages. An encouraging sign for trade negotiations? Nice pop in $FXI

'Tis the season for strength in the Shanghai Composite Index to May! $SSEC $FXI

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 13th 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 13th 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 13th 2018

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The barometer dropped 3.40 to 31.00 yesterday. It remains intermediate oversold.

TSX Momentum Barometer

The barometer slipped 2.89 to 32.23 yesterday. It remains intermediate oversold.

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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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