Tech Talk for Thursday December 3rd 2020

Splunk (SPLK), a NASDAQ 100 stock moved below $171.07 setting an intermediate downtrend.

Natural Gas ETN (UNG) moved below $9.62 and $9.39 extending an intermediate downtrend.

Nike (NKE), a Dow Jones Industrial Average stock moved above $136.35 to an all-time high extending an intermediate uptrend.

Cameco (CCO), a TSX 60 stock moved above $13.39 completing a base building pattern.

Pre-opening Comments for Thursday December 3rd

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

Index futures were virtually unchanged following release of the Weekly Jobless Claims Report at 8:30 AM EST. Consensus was 775,000 versus revised 787,000 last week. Actual was 712,000

Tesla advanced $23.68 to $592.50 after Goldman Sachs upgraded the stock from Neutral to Buy Target price is $780.

Toronto Dominion Bank (TD $70.78) is expected to open higher after reporting higher than consensus fiscal fourth quarter earnings.

Commerce Bank (CM $110.06) is expected to open higher after reporting higher than consensus fiscal fourth quarter earnings.

Stryker (SYK $234.26) is expected to open higher after the company raised its dividend by 9.6%.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2020/12/02/stock-market-outlook-for-december-3-2020/

Note seasonality chart on Crude Oil Days of Supply.

Technical Notes for Wednesday December 2nd

Pfizer (PFE), a Dow Jones Industrial stock moved above $40.40 to an all-time high extending an intermediate uptrend. The stock responded to news that the United Kingdom has given fast track approval for Pfizer's COVID 19 vaccine.

Advanced Micro Devices (AMD), a NASDAQ 100 stock moved above $94.28 to an all-time high extending an intermediate uptrend.

Russia ETF (RSX) moved above $23.57 resuming an intermediate uptrend.

Platinum ETN (PPLT) moved above $94.90 extending an intermediate uptrend.

Alphabet (GOOG and GOOGL), an S&P 100 stock moved above $1818.06 and $1816.89 respectively to an all-time high extending intermediate uptrends.

Alphabet (GOOG and GOOGL), an S&P 100 stock moved above $1,818.06 and $1,816.89 respectively to all-time highs extending an intermediate uptrend.

Dollarama (DOL), a TSX 60 stock moved above $53.91 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 2nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 2nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 2nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Greg Schnell's Comment on Electric Cars

Following is a link:

Electric Vehicle Breakdowns – GREG SCHNELL

S&P 500 Momentum Barometer

The Barometer slipped 1.80 to 82.77 yesterday. It remains extremely intermediate overbought.

TSX Momentum Barometer

The Barometer slipped 2.80 to 71.96 yesterday. It remains intermediate overbought.

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