Tech Talk for Tuesday December 17th 2019

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 November New Housing Starts. Consensus was an increase to 1.344 million units from an upwardly revised 1.323 million units in October. Actual was 1.365 million units.

Johnson & Johnson added $1.71 to $143.50 after Morgan Stanley upgraded the stock to Overweight.

Micron advanced $0.76 to $53.74 after Wedbush upgraded the stock to Outperform. Target was increased to $65 from $44.

Boeing dropped $4.43 to $322.50 after the company announced a production suspension starting in January of its 737 Max aircraft.

Goldman Sachs added $0.15 to 228.19 after Wells Fargo raised its target price on the stock from $240 to $280.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/12/16/stock-market-outlook-for-december-17-2019/

Note seasonality charts on the Biotech sector and Platinum

Observations

Commodity sensitive Australia iShares moved above $22.51 to an all-time high extending an intermediate uptrend.

StockTwits released yesterday @EquityClock

Procter & Gamble $PG, a Dow Jones Industrial stock moved above $125.77 to an all-time high extending an intermediate uptrend

Philip Morris $PM, an S&P 100 stock moved above $85.60 extending an intermediate uptrend

FedEx $FDX, an S&P 100 stock moved above $166.88 setting an intermediate uptrend

Union Pacific $UNP, an S&P 100 stock moved above $179.02 to an all-time high extending an intermediate uptrend

PayPal $PYPL, an S&P 100 stock moved above $108.46 setting an intermediate uptrend

NetApp $NTAP, an S&P 100 stock moved above $63.93 extending an intermediate uptrend.

Medtronic $MDT, an S&P 100 stock moved above $114.46 to an all-time high extending an intermediate uptrend

Healthcare Providers iShares $IHF moved above $196.99 to an all-time high extending an intermediate uptrend

NewEra Energy $NEE, an S&P 100 stock moved above $238.61 to an all-time high extending an intermediate uptrend.

Oracle $ORCL, an S&P 100 stock moved below $53.87 setting an intermediate downtrend.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 16th 2019

Green: Increase from previous day

Red: Decrease from previous day

Technical Scoop

Thank you to David Chapman and www.EnrichedInvesting.com for the following weekly comment. Headline reads, "2020 Market and Economic Forecast, possible peak, systemic risks, all-time highs, gold low, USD support". Following is the link:

http://enrichedinvesting.com/wp-content/uploads/2019/12/2020-Market-and-Economic-Forecast-possible-peak-systemic-risks-all-time-highs-gold-low-USD-support.pdf?EUR<

Note the table showing annual percent changes by year for the Dow Jones Industrial Average since 1830.

Editor's Note: 2020 is a Presidential Election Year and a year ending in 0. Equity Clock offers seasonality chart for the Dow Jones Industrial Average and the S&P 500 Index for both

Dow Jones Industrial Average during years ending in 0 shows a short term peak in January followed by a bottom near the end of May followed by a recovery to the end of the year to a slight profit by yearend.

The Dow Jones Industrial Average during election years moves sideways from January to mid-April, followed by a downward move to the end of May during the height of election rhetoric, followed by a move higher to early September, followed by weakness prior to the election in early November, followed by an advance to the end of the year for a positive but lower-than-average gain by the end of the year.

If history repeats, both charts imply that early January in 2020 could be an inflection point for U.S. equity markets and an important time to re-examine the U.S. equity component in your investment portfolio.

S&P 500 Momentum Barometer

The Barometer added 1.20 to 74.55 yesterday. It remains intermediate overbought, but has yet to show signs of peaking.

TSX Momentum Barometer

The Barometer gained 2.18 to 67.76 yesterday. It remains intermediate overbought, but has yet to show signs of peaking.

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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