Tech Talk for Friday December 18th 2020

Cadence Design Systems (CDNS), a NASDAQ 100 stock moved above $127.50 to an all-time high extending an intermediate uptrend.

Magna International (MG), a TSX 60 stock moved above $82.71 to an all-time high extending an intermediate uptrend.

Pre-opening Comments for Friday December 18th

U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.

The Canadian Dollar was virtually unchanged at US78.37 cents following release of Canada's October Retail Sales at 8:30 AM EST. Consensus was an increase of 0.2% versus a gain of 1.1% in September. Actual was an increase of 0.4%.

FedEx fell $9.33 to $282.93 despite reporting higher than consensus fiscal second quarter sales and earnings.

U.S. Steel dropped $1.06 to $17.50 after lowering guidance below consensus estimates.

Darden Restaurants slipped $1.60 to $117.02 despite reporting higher than consensus fiscal second quarter earnings.

BlackBerry slipped $0.21 to $10.30 despite reporting higher than consensus quarterly sales and earnings.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2020/12/17/stock-market-outlook-for-december-18-2020/

Note seasonality chart on U.S. Housing Starts.

Technical Notes for Thursday December 17th

Silver ETN (SLV) moved above $23.96 resuming an intermediate uptrend.

Silver stocks are responding to higher silver prices. First Majestic Silver moved above US$12.21 and Cdn$15.90 resuming an intermediate uptrend.

Travelers (TRV), a Dow Jones Industrial Average stock moved above $138.11 extending an intermediate uptrend.

Accenture (ACN), an S&P 100 stock moved above $253.93 to an all-time high extending an intermediate uptrend. The company reported higher than consensus quarterly results this morning.

Illumina (ILMN), a NASDAQ 100 stock moved above $356.00 extending an intermediate uptrend.

ADP (ADP), a NASDAQ 100 stock moved above $176.24 and $177.99 to an all-time high extending an intermediate uptrend.

Activision (ATVI), a NASDAQ 100 stock moved above $87.73 to an all-time high extending an intermediate uptrend.

Paychex (PAYX), a NASDAQ 100 stock moved above $94.95 to an all-time high extending an intermediate uptrend.

BMO Emerging Markets ETF (ZEM) moved above $23.61 to an all-time high extending an intermediate uptrend.

Shopify (SHOP), a TSX 60 stock moved above $1,502.00 to an all-time high extending an intermediate uptrend.

Home Builders SPDRs (XHB) moved above $59.08 to an all-time high extending an intermediate uptrend. Responded to higher than consensus new home starts in November.

Metro (MRU), a TSX 60 stock moved below $57.88 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 18th 2020

Green: Increase from previous day

Red: Decrease from previous day

Editor's Note: Continuing weakness in the U.S. Dollar Index and its related ETN is driving commodity prices higher

Commodities

Daily Seasonal/Technical Commodities Trends for December 18th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 18th 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer added 3.61 to 85.17 yesterday. It remains extremely intermediate overbought.

TSX Momentum Barometer

The Barometer gained 6.07 to 78.97 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