Tech Talk for Thursday December 12th 2024

U.S. equity index futures were lower this morning. S&P 500 futures were down 17 points at 8:35 AM EST.

S&P 500 futures dropped 7 points following release of the November Producer Price Index at 8:30 AM EST. Consensus was a 0.3% gain versus a 0.2% gain in October. Actual was a 0.4% gain. n a year-over-year basis, consensus was a 2.6% gain versus a 2.5% gain in October. Actual was a 3.0% gain. Excluding food and energy, consensus was a 0.2% gain versus a 0.3% gain in October. Actual was a 0.2% gain. On a year-over-year basis, consensus for core was 3.3% versus a 3.1% gain in October. Actual was a 3.4% gain.

The Bank of Canada's drop in lending rate for Canada's largest banks by 0.50% prompted Toronto Dominion Bank, Bank of Montreal, Commerce Bank and Royal Bank to lower their prime lending rate from 5.95% to 5.45%.

European Central Bank dropped its lending rate by 0.25% to 3.00%

Adobe dropped $48.93 to $501.00 after offering fiscal first quarter guidance below consensus.

Champions Oncology advanced $0.82 to $6.66 after reporting higher than consensus fiscal second quarter earnings.

Ciena dropped $2.72 to $70.49 after reporting less than consensus fiscal fourth quarter earnings.

EquityClock's Stock Market Outlook for December 12th

The time is here to be bullish on Energy. See:

https://equityclock.com/2024/12/11/stock-market-outlook-for-december-12-2024/

Technical Notes

Blackrock $BLK an S&P 100 stock moved above $1-63.08 to an all-time high extending an intermediate uptrend.

Alphabet $GOOGL an S&P 100 stock moved above$191.28 to an all-time high extending an intermediate uptrend. $GOOGL an S&P 100 stock moved above $192.84

General Electric $GE an S&P 100 stock moved below $170.43 completing a double top pattern.

UnitedHealth Group $UNH a Dow Jones Industrial Average stock moved below $540.93 setting an intermediate downtrend.

Duke Energy $DUK an S&P 100 stock moved below $109.27 completing a Head & Shoulders pattern.

Thomson Reuters $TRI.TO a TSX 60 stock moved above Cdn$241.75 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 10th 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 10th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 11th 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

RRG EXPERT Shares Top Techniques for Finding Strength in Sectors

RRG EXPERT Shares Top Techniques for Finding Strength in Sectors - YouTube

SoFi's Liz Young Thomas Gives Top Sector Picks for 2025

SoFi's Liz Young Thomas Gives Top Sector Picks for 2025 - YouTube

Master the MACD Zero Line for a Trading Edge! Joe Rabil

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

Gold's Surge in 'Rage-Filled World': Global Stress Driving Prices Higher, What's Next? Clem Chambers (includes 2015 outlook for Bitcoin and gold).

https://www.youtube.com/watch?v=yH3biZGLWx8

Why Ed Yardeni thinks 2025 could start with a stock pull back

Why Ed Yardeni thinks 2025 could start with a stock pull back - YouTube

What Fundstrat’s Tom Lee expects from the markets in 2025

What Fundstrat’s Tom Lee expects from the markets in 2025 - YouTube

Interest rates are headed down further: David Rosenberg

Interest rates are headed down further: David Rosenberg - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped another 1.80 to 52.00. It remains Neutral. Daily downtrend was extended.

The long term Barometer dropped another 1.80 to 67.80. It remains Overbought. Daily downtrend was extended.

TSX Momentum Barometers

The intermediate term Barometer added 1.83 to 59.82. It remains Neutral.

The long term Barometer added 0.91 to 72.60. 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