Tech Talk for Tuesday December 31st 2019

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.

The Shanghai Composite Index gained 10.10 to 3,050.12 after China's December PMI advanced to 50.2. Consensus was 50.1. The Index moved above 3,042.93 and 3,048.48 completing a reverse Head & Shoulders pattern.

Nvidia (NVDA $232.32) is expected to open higher after Benchmark raised its target price to $275 from $240.

StockTwits released yesterday @EquityClock

Walt Disney $DIS, a Dow Jones Industrial stock moved below $144.19 completing a short term head and shoulders pattern.

Frontier 100 iShares $FM moved above $30.33 extending an intermediate uptrend

Restaurant Brands International $QSR.CA, a TSX 60 stock moved below $83.46 extending an intermediate downtrend.

Royal Bank $RY.CA, a TSX 60 stock moved below $103.35 and $103.03 completing a Head & Shoulders pattern.

U.S. Dollar Index ETN $UUP briefly moved below $26.02 setting an intermediate downtrend

Editor's Note: By definition, other major currencies moved higher. The Euro led the advance by moving above 111.82 completing a base building pattern.

Trader's Corner

Equity Indices and related ETFs

Daily Seasonal/Technical Equity Trends for December 30th 2019

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 30th 2019

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 30th 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 link:

http://enrichedinvesting.com/wp-content/uploads/2019/12/All-time-highs-overbought-territory-golds-break-dollar-falls-repo-continues-yields-fall-healthy-energy.pdf?EUR<

A "Shout Out" for David Morgan

Congratulation to David Morgan on his retirement today after serving in the Canadian investment industry for 50 years! I first met David in 1970 when he was a young "mover and shaker" in the Accounting Department at Richardson Greenshields in Winnipeg. David eventually moved on to become the Sales Manager at Union Securities. Thereafter, he settled down as the Branch Manager of Caldwell Securities' Georgetown branch. Enjoy your retirement, David. Well deserved!

S&P 500 Momentum Barometer

Percent of S&P 500 stocks trading above their 50 day moving average dropped 1.60 to 79.15 yesterday. Percent remains intermediate overbought.

TSX Momentum Barometer

Percent of TSX stocks trading above their 50 day moving average dropped 2.51 to 70.06 yesterday. It 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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