Tech Talk for Friday January 5th 2024

U.S. equity index futures were lower this morning. S&P 500 futures were down 23 points at 8:35 AM EST.

Index futures dropped 13 points following release of the U.S. December employment report at 8:30 AM EST. December Non-farm Payrolls were expected to drop to 158,000 from a revised 173,000 in November. Actual was an increase to 216,000. December Unemployment Rate was expected to increase to 3.8% from 3.7% in November. Actual was unchanged at 3.7%. December Average Hourly Earnings were expected to increase 0.3% versus a gain of 0.4% in November. Actual was an increase of 0.4%.

The Canadian Dollar dropped 0.14 to US74.74 cents following release of the December Canadian Employment Change report at 8:30 AM EST. Consensus was an increase of 13,200 versus a gain of 24,900 in November. Actual was an increase of 1,000. Consensus for December Unemployment Rate was an increase to 5.9% from 5.8% in November. Actual was unchanged at 5.8%.

Costco advanced $5.85 to $654.70 after reporting a revenue jump in December of nearly 10%.

Palantir Technologies dropped $0.63 to $15.62 after Jefferies downgraded the stock from Hold to Underperform.

IBM dropped $1.50 to $159.36 after Societe Generale downgraded the stock from Hold to Sell.

Technical Notes

Healthcare SPDRs XLV moved above $139.34 to an all-time high extending an intermediate uptrend.

Eli Lilly $LLY an S&P 100 stock moved above $628.81 to an all-time high extending an intermediate uptrend

Merck $MRK a Dow Jones Industrial Average stock moved above $117.20 to an all-time high extending an intermediate uptrend.

Trip.com $TCOM a NASDAQ 100 stock moved above intermediate resistance at $36.71.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Jan.4th 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 Jan 4th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Jan.4th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Strange Divergence Between Interest Rates & Financials | Trading Places (01.04.24)

https://www.youtube.com/watch?v=fBaPEdKjZYY&t=4s

Discover The Hottest Sectors Of 2024! | Stock Talk (01.04.24): Joe Rabil

https://www.youtube.com/watch?v=nbOhcbJRWis&t=254s

Carter Charts the S&P 500 | Stock Trading & Investing Live Stream

https://www.youtube.com/watch?v=X2RvdsayxGo

What a Year for Uranium and Nuclear Energy!

Sprott Outlook: What a Year for Uranium and Nuclear Energy

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 2.60 to 89.00. It remains Overbought. Daily data has rolled over.

The long term Barometer dropped 1.60 to 76.40. It remains Overbought. Daily data has rolled over.

TSX Momentum Barometers

The intermediate term Barometer added 1.78 to 68.44. It remains Overbought.

The long term Barometer added 1.33 to 58.67. 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