Tech Talk for Friday December 6th 2024

U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points at 8:35 AM EST.

Index futures advanced 11 points following release of the November U.S. Employment Report at 8:30 AM EST. November Non-farm Payrolls were expected to increase 220,000 versus a gain of 12,000 in October. Actual was 227,000. November Unemployment Rate was expected to remain unchanged from October at 4.1%. Actual was a 0.1% increase to 4.2%. November Average Hourly Earnings were expected to increase 0.3% versus a gain of 0.4% in October. Actual was a 0.4% increase.

The Canadian Dollar added 0.05 to US71.12 cents following release of Canada's November Employment Report at 8:30 AM EST. Consensus for November employment was a 27,000 increase. Actual was a 50,500 increase. Consensus for the November Unemployment Rate was unchanged at 6.6%. Actual was an increase to 6.8%.

Lulu Lemon advanced $11.19 to $356.00 after reporting higher than consensus third quarter revenues. The company also announced a $1 billion share buyback program.

DocuSign advanced $10.32 to $94.00 after reporting higher than consensus third quarter revenues.

Rubrik jumped $10.15 to $64.00 after reporting higher than consensus third quarter revenues. The company also announced a 55% increase in subscriptions.

EquityClock's Stock Market Outlook for December 6th

Bitcoin has crossed above $100,000, but we have our eye on another cryptocurrency as a better bet through the months ahead. See:

https://equityclock.com/2024/12/05/stock-market-outlook-for-december-6-2024/

Technical Notes

Johnson & Johnson $JNJ a Dow Jones Industrial Average stock moved below $149.56 extending an intermediate downtrend.

First Quantum Minerals $FM.TO a TSX 60 stock moved above Cdn$20.76 extending an intermediate uptrend.

George Weston $WN.TO a TSX 60 stock moved above Cdn$236.30 to an all-time high extending an intermediate uptrend. The company owns a controlling interest in Loblaws

Loblaw Companies $L.TO a TSX 60 stock moved above Cdn$188.77 to an all-time high extending an intermediate uptrend.

Bank of Montreal $BMO.TO a TSX 60 stock moved above Cdn$135.85 to an all-time high extending an intermediate uptrend.

Toronto Dominion Bank $TD.TO a TSX 60 stock moved below Cdn$75.90 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 5th 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 5th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 5th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Bitcoin’s breakout is a precursor for equities through year-end, says Fundstrat’s Tom Lee

Bitcoin’s breakout is a precursor for equities through year-end, says Fundstrat’s Tom Lee - YouTube

How Trump’s presidency could benefit Canada

How Trump’s presidency could benefit Canada - YouTube

TD Bank suspends three 2025 financial targets

TD Bank suspends three 2025 financial targets - YouTube

SPX Nears Key Inflection Point, Both Technically & Structurally: Schwab Network

SPX Nears Key Inflection Point, Both Technically & Structurally - YouTube

Expect an S&P 500 in the 0-10% range in 2025, says Wharton’s Jeremy Siegel

Expect an S&P 500 in the 0-10% range in 2025, says Wharton’s Jeremy Siegel - YouTube

Goldman Sachs: S&P 500 will reach $6,500 by year-end 2025

Goldman Sachs: S&P 500 will reach $6,500 by year-end 2025 - YouTube

Outlook for oil and energy markets BNN

Outlook for oil and energy markets - YouTube

Global economic outlook for 2025: Charles Schwab

Global economic outlook for 2025 - YouTube

OPEC+ extends production cuts: BNN

OPEC+ extends production cuts - YouTube

CHART THIS with David Keller, CMT Thursday 12/5/24

https://www.youtube.com/watch?v=jzOrRaMDerE

Get Ahead of 2025 Stock Trends! Joe Rabil

https://www.youtube.com/watch?v=qadp5Wd0Kv4

Breakouts Galore! Keep These Stocks On Your Radar! Tom Bowley

Breakouts Galore! Keep These Stocks On Your Radar! - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 3.40 to 59.20. It changed from Overbought to Neutral on a drop below 60.00.

The long term Barometer dropped 1.20 to 72.40. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer was unchanged at 64.84. It remains Overbought.

The long term Barometer dropped 1.82 to 74.43. 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