Tech Talk for Thursday December 19th 2019
U.S. equity index futures were lower this morning. S&P 500 futures were down 3 points in pre-opening trade.
Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was a drop to 225,000 from 252,000 last week. Actual was 234,000. Consensus for December Philly Fed Index was a drop to 8.0 from 10.4 in November. Actual was.0.3%
The Bank of England maintained its overnight lending rate at 0.75%.
Micron added $2.16 to $55.16 after reporting higher than consensus fiscal first quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/12/clip_image0011-5.png "clip_image001[1]")
Conagra gained $2.15 to $31.20 after reporting higher than consensus fiscal second quarter revenues and earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/12/clip_image0021-4.png "clip_image002[1]")
Darden Restaurants dropped $4.33 to $116.31 after reporting lower than consensus fiscal second quarter revenues.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/12/clip_image0031-4.png "clip_image003[1]")
Accenture added $0.74 to $206.50 after reporting higher than consensus fiscal first quarter revenues and earnings.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/12/clip_image0041-2.png "clip_image004[1]")
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2019/12/18/stock-market-outlook-for-december-19-2019/
Note seasonality chart on FedEx.
StockTwits released yesterday @EquityClock
Netflix $NFLX, a NASDAQ 100 stock moved above $316.82 extending an intermediate uptrend.
FedEx $FDX moved below support at $150.38 after reporting lower than consensus fiscal second quarter revenues and earnings. The company also lowered guidance.
Another Canadian "gassy" stock breakout! Painted Pony Pete. $PONY.CA moved above $0.77 completing a base building pattern.
SNC Lavalin $SNC.CA moved above $27.84 extending an intermediate uptrend.
Constellation Software $CSU.CA, a TSX 60 stock moved below support at $1,233.38
First Trust Natural Gas ETF $FCG moved above $11.71 completing a double bottom pattern.
Metro $MRU.CA, a TSX 60 stock moved below $54.52 completing a double top pattern.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for December 18th 2019 
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for December 18th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for December 18th 2019
Green: Increase from previous day
Red: Decrease from previous day
Greg Schnell's Market Buzz
Released yesterday..Following is the link:
https://www.youtube.com/watch?v=4zkzlW1uB-w&feature=youtu.be
Greg noted in the show that "The whole world is starting to kick it up".
S&P 500 Momentum Barometer
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/12/clip_image0015-5.png "clip_image001[5]")
The Barometer added 0.20 to 75.75 yesterday. It remains intermediate overbought, but has yet to show signs of peaking.
TSX Momentum Barometer
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/12/clip_image0025-4.png "clip_image002[5]")
The Barometer slipped 0.17 to 68.06 yesterday. It remains intermediate overbought, but has yet to show signs of peaking.
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
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