Tech Talk for Thursday December 20th 2018

U.S. equity index futures were mixed this morning. S&P 500 futures were up unchanged in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Initial Jobless Claims was an increase to 225,000 from 204,000 last week. Actual was an increase to 214,000. Consensus for December Philly Fed Index was 12.0 versus 12.9 in November. Actual was 9.4.

Blackberry added $0.45 to $7.80 U.S. after reporting higher than consensus fiscal third quarter revenues and earnings.

Tilroy (TLRY $) is expected to open higher after reaching partnership agreement with Anheuser Busch to research cannabis base beverages.

Canagra dropped $1.46 to $27.63 after lowering guidance for its fiscal third quarter..

Apple (AAPL $) is expected to open lower after Needham lowered its target price to $200 from $260.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2018/12/19/stock-market-outlook-for-december-20-2018/

Note seasonality charts on Crude Oil days of Supply, Gasoline days of Supply, Existing Home Sales and Canadian Consumer Price Index.

Observations

Wild market action before and after Federal Reserve Chairman Powell's comments!

S&P 500 Index moved higher prior to comments and dropped shortly after

TSX Composite Index followed a similar, but slightly less volatile pattern

Developed world equities and related ETFs followed a similar pattern.

Precious metal prices tracked equity markets.

The VIX Index moved in the opposite direction.

The U.S. Dollar Index and its related ETN tracked the VIX Index

Yield on long term Treasuries initially moved higher, but dropped in late trading.

The S&P 500 Index, Dow Jones Industrial Average and NASDAQ Composite Index broke below lows set in February/March. The TSX Composite Index dropped to a 27 month low.

StockTwits Released Yesterday @EquityClock

American Express $AXP, a Dow Jones Industrial stock moved below $100.04 extending an intermediate downtrend.

Technical action by S&P 500 stocks to 10:00: Quietly bearish. No intermediate breakouts. Breakdowns: $KMX $AXP $KIM

20 S&P 500 stocks broke intermediate support following Federal Reserve Chairman's comments.

Editor's Note: Breakdowns included HLT, LB, NKE, MKC, SYY, VAR, VRTX, HOLX, ACN, APH, APH, CSCO, JNPR, LRCX, STX, V and AES.

Materials SPDRs $XLB moved below $$50.09 extending an intermediate downtrend.

Semiconductor ETF $SMH moved below $86.95 extending an intermediate downtrend.

Royal Bank $RY.CA, a TSX 60 stock moved below $93.13 extending an intermediate downtrend.

Brookfield Asset Management $BAM, a TSX 60 stock moved below $39.44 U.S. extending an intermediate downtrend.

Editor's Note: Other TSX 60 stocks that broke intermediate support included First Quantum Minerals and Cameco.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 19th 2018

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 19th 2018

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 19th 2018

Green: Increase from previous day

Red: Decrease from previous day

The Astrologers Fund 2019 Forecasts

for the Stock Market, Trump, Gold and Crypto

by Henry Weingarten

Register here to attend our 11.55am December 21 Shindig webinar:

https://shindig.com/login/event/astrologer2019

http://www.equityclock.com/about/seasonal-advantage-portfolio/

S&P 500 Momentum Barometer

The Barometer dropped 2.80 to 12.20 yesterday. It remains intermediate oversold.

TSX Momentum Barometer

The Barometer dropped 7.12 to 22.63 yesterday. It remains intermediate oversold.

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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