Tech Talk for Thursday December 5th 2019
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points 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 221,000 from 213,000 last week. Actual was 203,000. Consensus for the October U.S. Trade Deficit was $51.5 billion versus $52.5 billion in September. Actual was a deficit of $47.2 billion
The Canadian Dollar was virtually unchanged at U.S.75.96 cents following release of Canada's October Trade Report. Consensus was a deficit of $1.45 billion versus a deficit of $980 million in September. Actual was a deficit of $1.08 billion
Crude oil added $0.33 to $58.76 on speculation that OPEC will reduce quotas at its semi-annual meeting in Vienna.
Toronto Dominion Bank (TD $75.67) is expected to open lower after reporting lower than consensus fiscal fourth quarter earnings.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/12/clip_image0011-1.png "clip_image001[1]")
Canadian Imperial Bank of Commerce (CM $114.83) is expected to open lower after reporting lower than consensus fiscal fourth quarter earnings.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/12/clip_image0021.png "clip_image002[1]")
Nike gained $1.98 to $95.70 after Goldman Sachs upgraded the stock to Buy from Neutral.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/12/clip_image0031-1.png "clip_image003[1]")
Tiffany dropped $1.71 to $132.01 after reporting lower than consensus third quarter revenues and earnings.
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2019/12/04/stock-market-outlook-for-december-5-2019/
Note seasonality chart on the Canadian Dollar
Jon Vialoux on BNNBloomberg's Market Call Tonight
Following are links to the show released last night:
Market Outlook
https://www.bnnbloomberg.ca/video/jon-vialoux-s-market-outlook~1846850
Past Picks
https://www.bnnbloomberg.ca/video/jon-vialoux-s-past-picks~1846869
Top Picks
https://www.bnnbloomberg.ca/video/jon-vialoux-s-top-picks~1846908
StockTwits released yesterday @EquityClock
Electronic Arts $EA, a NASDAQ 100 stock moved above $101.70 resuming an intermediate uptrend.
Danaher $DHR, an S&P 100 stock moved above $147.16 to an all-time high extending an intermediate uptrend.
Metals & Mining SPDRs $XME moved above $28.11 setting an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for December 4th 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for December 4th 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for December 4th 2019
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
![clip_image001[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/12/clip_image0015-1.png "clip_image001[5]")
The Barometer added 4.61 to 67.33 yesterday. It remains intermediate overbought.
TSX Momentum Barometer
![clip_image002[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2019/12/clip_image0025-1.png "clip_image002[5]")
The Barometer slipped 0.63 to 63.43 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
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