Tech Talk for Tuesday December 24th 2019

U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade.

Volumes on U.S. and Canadian equity markets are expected to be well below average today prior to the Christmas Holiday tomorrow. U.S. and Canadian equity markets close at 1:00 PM EST.

Advanced Micro Devices added $0.68 to $46.04 after RBC Capital raised its target price from $50 to $53.

Boeing gained $9.55 to $337.55 after the company chose its chairman David Calhoun to become its Chief Executive Officer and President.

EquityClock's Daily Market Comment

Following is a link:

http://www.equityclock.com/2019/12/23/stock-market-outlook-for-december-24-2019/

Note seasonality chart on Durable Goods Orders.

Equity Market Holiday Schedule

North American equity market close today at 1:00 PM EST and are closed tomorrow. Canadian equity markets are closed on Thursday. Next Tech Talk report is released on Thursday.

Observations

The energy sector continues to strengthen on a real and relative basis. Nice breakout by the Oil Services ETF above $78.93 completing a double bottom pattern.

Silver and its related ETN are "getting into gear" for their seasonal trade lasting until at least the end of February.

StockTwits released yesterday

MMM $MMM, a Dow Jones Industrial stock moved above $175.19 completing a reverse Head & Shoulders pattern

Intel $INTC, a Dow Jones Industrial stock moved above $59.13 to an all-time high extending an intermediate uptrend.

Caterpillar $CAT, a Dow Jones Industrial stock moved above $148.47 extending an intermediate uptrend.

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Raytheon $RTN, an S&P 100 stock moved above $220.03 extending an intermediate uptrend

Husky Energy $HSE.CA, a TSX 60 stock moved above $10.43 extending an intermediate uptrend.

U.S. OIl and Gas Exploration SPDRs $XOP moved above $23.51 completing a double bottom pattern.

eBay $EBAY, a NASDAQ 100 stock moved above $36.39 completing a double bottom pattern.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 23rd 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 23th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 23rd 2019

Green: Increase from previous day

Red: Decrease from previous day

Keith Richards' Blog

Following is a link:

https://www.valuetrend.ca/on-the-subject-of-risk/

Hap Sneddon on BNNBloomberg's Market Call Yesterday

Market Comment

https://www.bnnbloomberg.ca/video/hap-sneddon-s-market-outlook~1861265

Top Picks

https://www.bnnbloomberg.ca/video/hap-sneddon-s-top-picks~1861285

Technical Scoop

Thank you to David Chapman and www.EnrichedInvesting.com for this weekly comment.

Highlight comment reads, "Golden optimism, lingering concerns, new highs, DJI divergence, frothy indicators, low anniversary".

Following is a link:

http://enrichedinvesting.com/wp-content/uploads/2019/12/Golden-optimism-lingering-concerns-new-highs-DJI-divergence-frothy-indicators-low-anniversary.pdf?EUR<

S&P 500 Momentum Barometer

The Barometer added 0.20 to 80.96 yesterday. It remains intermediate overbought, but has yet to show signs of a peak.

TSX Momentum Barometer

The Barometer added 3.24 to 70.83 yesterday. It remains intermediate overbought, but has yet to show signs of a peak.

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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