Tech Talk for Friday December 4th 2020

Simon Properties (SPG), an S&P 100 stock moved above $91.96 resuming an intermediate uptrend.

Pre-opening Comments for Friday December 4th

U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for November Non-farm Payrolls was a drop to 469.000 from 638,000 in October. Actual was 245,000. Consensus for the November Unemployment Rate was 6.7% versus 6.9% in October. Actual was 6.7%. Consensus for November Hourly Earning was an increase of 0.1% versus a gain of 0.1% in October. Actual was an increase of 0.3%. Consensus for the October U.S. Trade Deficit was $64.80 billion versus $63.90 billion in September. Actual was $63.10 billion.

The Canadian Dollar added 0.12 to US77.90 cents following release of economic news at 8:30 AM EST. Consensus for Canadian November Employment was a gain of 20,000 versus an increase of 83,000 in October. Actual was a gain of 62,000. Consensus for Canada's November Unemployment Rate was 8.9% versus 8.9% in October. Actual was 8.5%. Consensus for Canada's October Trade Deficit was $3.00 billion versus $3.25 billion in September. Actual was $3.70 billion

The price of WTI crude oil added $0.45 to US$46.03 per barrel after OPEC and Russia reached an agreement on production quotas.

Starbucks added $0.69 to $100.80 after Wedbush raised its target price from $88 to $101.

Netflix advanced $1.06 to $498.58 after Benchmark raised its target price from $392 to $412.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2020/12/03/stock-market-outlook-for-december-4-2020/

Note seasonality chart on U.S. Non-farm Payrolls.

Technical Notes for Thursday December 3rd

U.S. Telecommunications iShares (IYZ) moved above $30.26 to a 40 month high extending an intermediate uptrend.

Natural Gas ETN (UNG) moved below $9.62 and $9.39 extending an intermediate downtrend.

Splunk (SPLK), a NASDAQ 100 stock moved below $171.07 setting an intermediate downtrend. The company reported less than consensus third quarter revenues and earnings.

Nike (NKE), a Dow Jones Industrial Average stock moved above $136.35 to an all-time high extending an intermediate uptrend.

Boeing (BA), a Dow Jones Industrial Average stock moved above $234.20 resuming an intermediate uptrend. The stock responded to news that Ryan Air ordered 75 Boeing 737 Max aircraft.

United Airlines (UAL), an S&P 100 stock moved above $38.95 resuming an intermediate uptrend. Responding to encouraging COVID 19 news.

Liberty Global (LBTYA and LBTYK), a NASDAQ 100 stock moved above $24.12 and $2361 respectively extending an intermediate uptrend.

Marriott (MAR), a NASDAQ 100 stock moved above $131.90 extending an intermediate uptrend.

Cameco (CCO), a TSX 60 stock moved above $13.39 completing a base building pattern.

Saputo (SAP), a TSX 60 stock moved above $36.28 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 3rd 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 3rd 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 3rd 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 1.80 to 80.96 yesterday. It remains extremely intermediate overbought.

TSX Momentum Barometer

The Barometer added 0.93 to 72.90 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