Tech Talk for Tuesday December 10th 2019

U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.

Starbucks (SBUX $86.28) is expected to open higher after RBC Capital initiated coverage on the stock with an Outperform rating. Target is $97.

McDonalds (MCD $194.68) is expected to open higher after RBC Capital initiated coverage with an Outperform rating. Target is $218.

Darden Restaurants (DRI $118.10) is expected to open higher after RBC Capital initiated coverage with an Outperform rating. Target is $135.

Toll Brothers (TOL $41.42) is expected to open higher after reporting higher than consensus quarterly revenues and earnings.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/12/09/stock-market-outlook-for-december-10-2019/

Note seasonality chart on copper relative to the S&P 500 Index

Observations

Oil Services ETF moved above $12.44 completing a base building pattern.

Seasonality for the Oil and Gas Equipment and Services sector turns positive at the end of this week for a seasonal move to the end of April.

StockTwits released yesterday

Base Metal stocks continue to move higher during their period of seasonal strength. Nice breakout by VALE $VALE above $12.48 extending a base building pattern.

Another base metals stock breakout! BHP $BHP moved above $52.35 and 52.33 extending a base building pattern

Global Metals iShares $PICK moved above $29.10 extending a base building pattern

Editor's Note: Strength in base metal stocks can be attributed to a breakout by copper futures above $2.73 per lb. extending an intermediate uptrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 9th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 9th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 9th 2019

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Link to David Chapman's weekly comment compliments of www.enrichedinvesting.com

David discusses, "Whipsaw week, tariff spook, gangbuster payroll, reinversion warning, repo mystery, Q warning". Following is the link:

http://enrichedinvesting.com/wp-content/uploads/2019/12/Whipsaw-week-tariff-spook-gangbuster-payroll-reinversion-warning-repo-mystery-Q-warning.pdf

S&P 500 Momentum Barometer

TSX Momentum Barometer

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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