Tech Talk for Tuesday December 4th 2018
U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade.
Bank of Montreal (BMO $99.00) is expected to open higher after reporting higher than consensus fiscal fourth quarter earnings. The Bank also raised its quarterly dividend.
Autozone gained $15.54 to $840.00 after reporting higher than consensus fiscal first quarter earnings.
Dollar General dropped $7.26 to $104.44 after lowering guidance.
Apple dropped $3.67 to $181.15 after HSBC downgraded the stock to Hold from Buy.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/12/03/stock-market-outlook-for-december-4-2018/
Note seasonality charts on Construction Spending and S&P/TSX Small Cap Index
'Tis the season for strength in a variety of markets! Here are the seasonality charts. Price charts are indicated in the StockTwits section.
StockTwits Released Yesterday @EquityClock
China Large Cap iShares $FXI moved above $42.03 completing a base building pattern
Technical action by S&P 500 stocks to 10:15: Bullish. 35 stocks broke intermediate resistance. $CVX One broke support.
Editor's Note: After 10:15 AM EST, breakouts included IR, DHI, MA, ISRG, KIM, PNW, PWR, MKC and EBAY.
iShares Emerging Markets $EEM moved above $41.70 completing a base building pattern
Frontier iShares $FM moved above $27.86 completing a base building pattern
Industrial SPDRs $XLI moved above $73.34 completing a base building pattern
South Korea iShares $EWY moved above $62.03 completing a base building pattern
Semiconductor iShares $SOXX moved above $171.01 completing a base building pattern. Also $SMH
Soybean ETN $SOYB moved above $16.64 completing a base building pattern
Medical Device iShares $IHI moved above $217.50 completing a base building pattern
Biotech ETF $BBH moved above $126.85 completing a base building pattern
Hudbay Minerals $HBM.CA moved above $6.98 completing a reverse Head & Shoulders pattern
Another Canadian base metals breakout! Lundin Mining $LUN.CA moved above $6.20 completing a base building pattern
US #Construction Spending down 0.5% (NSA) in October, stronger than the 1.3% decline that is average for the month. $MACRO #Economy
Imperial Oil $IMO.CA, a TSX 60 stock moved below $33.78 setting an intermediate downtrend
Seasonal Advantage Portfolio had a great November and to start December strongly higher. Are you invested yet? equityclock.com/about/seaso… $SPX
Trader's Corner
Equity Indices and related ETFs
Daily Seasonal/Technical Equity Trends for December 3rd 2018
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for December 3rd 2018
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for December 3rd 2018
Green: Increase from previous day
Red: Decrease from previous day
David Chapman's Weekly Technical Scoop
Compliments of www.EnrichedInvesting.com
Dovish Musing, Barely Begun Bear, Positive Seasonality, Payroll Watch, Fear and Greed Phases, Toppy USD
Following is a link:
S&P 500 Momentum Barometer
The Barometer jumped 7.80 to 64.60 yesterday. It moved to Intermediate Overbought from Intermediate Neutral on a move above 60, but continues to trend higher.
TSX Momentum Barometer
The Barometer added 0.83 to 40.91 yesterday. It remains Intermediate Neutral and continues to trend higher.
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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