Tech Talk for Tuesday December 3rd 2024

U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points at 8:30 AM EST

Honeywell dropped $6.95 to $223.00 after lowering fourth quarter guidance.

Zscaler dropped $16.11 to $191.96 after issuing lower fiscal first quarter guidance.

Tesla dropped $6.29 to $350.80 after a judge rejected approval of Elon Musk's proposed pay package.

Microchip Technology dropped $2.39 to $67.92 after announcing closure of an Arizona plant. The company also lowered guidance.

EquityClock's Market Outlook for December 3rd

The health of the market through the last month of the year is expected to show a heavy reliance on yields and the dollar. See:

https://equityclock.com/2024/12/02/stock-market-outlook-for-december-3-2024/

Technical Notes

NASDAQ Composite Index moved above 19,316.07 and NASDAQ 100 Trust $QQQ moved above $515.58 to an all-time high extending an intermediate uptrend.

Trade Desk $TTD a NASDAQ 100 stock moved above $132.65 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 2nd 2024

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 December 2nd 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 2nd 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Bitcoin will close well above $100,000 before year-end, says Fundstrat’s Tom Lee

Bitcoin will close well above $100,000 before year-end, says Fundstrat’s Tom Lee - YouTube

Low Liquidity & Volume Heading into "Santa Clause Rally" Schwab Network

Low Liquidity & Volume Heading into "Santa Clause Rally" - YouTube

Can You Really Predict Stock Market Success Using the Yield Curve? David Keller

Can You Really Predict Stock Market Success Using the Yield Curve? - YouTube

Market Navigator: Trading lumber

Market Navigator: Trading lumber - YouTube

Market Euphoria vs Rational Optimism: Understanding Investor Sentiment: Guy Adami, Dan Nathan and Liz Young

Market Euphoria vs Rational Optimism: Understanding Investor Sentiment - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 3.20 to 67.80. It remains Overbought.

The long term Barometer was unchanged at 76.00. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped 7.31 to 57.53. It changed from Overbought to Neutral on a drop below 60.00.

The long term Barometer was unchanged at 75.34. It remains Overbought.

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