Tech Talk for Thursday January 2nd 2020
U.S. equity index futures were higher this morning. S&P500 futures were up 19 points in pre-opening trade. Index futures were buoyed by another 1.15% gain by the Shanghai Composite Index to 3,085.20.
Schlumberger added $0.24 to $40.44 after Stifel Nicolaus raised its target price to $47 from $45.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0011-1.png "clip_image001[1]")
Halliburton (HAL $24.42) is expected to open higher after Stifel Nicolaus raised its target price to $30 from $24.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0021-1.png "clip_image002[1]")
Progressive added $1.33 to $73.72 after Deutsche Bank raised its rating to Buy from Hold.
![clip_image003[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0031.png "clip_image003[1]")
Comerica (CMA $71.75) is expected to open higher after SunTrust raised its target price to $75 from $62.
StockTwits released on Tuesday @EquityClock
Junior Gold ETF $GDXJ moved above $42.92 extending an intermediate uptrend.
General Dynamics $GD, an S&P 100 stock moved below $175.70 setting an intermediate downtrend.
Canadian Dollar $CDW moved above U.S. 76.91 cents extending an intermediate uptrend.
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for December 31st 2019
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for December 31st 2019
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for December 31st 2019
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0011.png "clip_image001[1]")
Percent of S&P 500 stocks trading above their 50 day moving average added 0.60 to 79.76 on Tuesday. Percent remains intermediate overbought.
TSX Momentum Barometer
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/01/clip_image0021.png "clip_image002[1]")
Percent of TSX stocks trading above their 50 day moving average dropped 1.70 to 68.35 on Tuesday. Percent 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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