Tech Talk for Tuesday December 12th 2023

U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points at 8:35 AM EST

U.S. equity index futures added were unchanged following release of the November Consumer Price Index at 8:30 AM EST. Consensus was unchanged versus unchanged in October. Actual was an increase of 0.1%. On a year-over-year basis, consensus was an increase of 3.1% versus a gain of 3.2% in October. Actual was an increase of 3.1%. Excluding food and energy, consensus was an increase of 0.3% versus a gain of 0.2% in October. Actual was an increase of 0.3%. On a year-over-year basis, consensus for core CPI was an increase of 4.0% versus a gain of 4.0% in October. Actual was an increase of 4.0%.

Hasbro dropped $2.39 to $46.50 after announcing a 20% reduction in its workforce. Another toy maker Mattel dropped $0.56 to $18.35.

Oracle dropped $8.13 to $107.00 after reporting less than consensus fiscal second quarter revenues.

Prudential Financial added $1.38 to $102.81 after the company approved a share buyback program valued up to $1 billion.

Technical Notes

Semiconductor ETF $SMH moved above $165.44 to an all-time high extending an intermediate uptrend.

Advanced Micro Devices $AMD a NASDAQ 100 stock moved above $133.83 to a 24 month high extending an intermediate uptrend.

QUALCOMM $QCOM an S&P 100 stock moved above $136.29 extending an intermediate uptrend.

Broadcom $AVGO a NASDAQ 100 stock moved above $999.87 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Dec.11th 2023

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

Commodities

Daily Seasonal/Technical Commodities Trends for Dec.11th 2023

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Dec.11th 2023

Green: Increase from previous day

Red: Decrease from previous day

Link offered by a valued provider

Bullish Signals Confirmed! Greg Harmon's Top 5 Stock Picks for the Week | Your Daily Five (12.11.23)

https://www.youtube.com/watch?v=q7gV2iJ2GGQ

Canadian Association for Technical Analysis Event

Zoom presentation at 8:00 PM EST today with Oliver Kell. Everyone is welcome. Not a member of CATA? Contact: CATA Meeting – Dec 12 – Oliver Kell – Events – Canadian Association for Technical Analysis (clubexpress.com)

Seasonality Chart of the Day

Source: www.EquityClock.com

Seasonal Chart Analysis

Analysis of the VanEck Vectors Semiconductor ETF (NASD:SMH) seasonal charts above shows that a Buy Date of October 4 and a Sell Date of March 1 has resulted in a geometric average return of 4.44% above the benchmark rate of the S&P 500 Total Return Index over the past 20 years.

S&P 500 Momentum Barometers

The intermediate term Barometer added 3.40 to 86.40. It remains Overbought.

The long term Barometer added 2.20 to a new recent high at 68.60. It remains Overbought. Daily uptrend resumed.

TSX Momentum Barometers

The intermediate term Barometer dropped 6.17 to 65.64. It remains Overbought. Daily trend has turned lower.

The long term Barometer plunged 4.41 to 45.81. It remains Neutral. Daily trend has turned lower.

Disclaimer: Seasonality ratings 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