Tech Talk for Wednesday December 16th 2020
Soybean ETN (SOYB) moved above $18.09 extending an intermediate uptrend.
![clip_image001[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/12/clip_image0013-2.png "clip_image001[3]")
NetApp (NTAP), a NASDAQ 100 stock moved above $63.20 extending an intermediate uptrend.
![clip_image002[3]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/12/clip_image0023-2.png "clip_image002[3]")
Oracle (ORCL), an S&P 100 stock moved above $62.35 to an all-time high extending an intermediate uptrend.
![clip_image003[5]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/12/clip_image0035-7.png "clip_image003[5]")
Synopsys (SNPS), a NASDAQ 100 stock moved above $246.69 to an all-time high extending an intermediate uptrend.
![clip_image004[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/12/clip_image0041-1.png "clip_image004[1]")
Pre-opening Comments for Wednesday December 16th
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade. Investors are waiting for news on interest rates from the FOMC meeting at 2:00 PM EDT. Consensus is that rates will remain unchanged.
U.S. equity indices moved lower following release of U.S. November Retail Sales at 8:30 AM EST. Consensus was a drop of 0.3% versus a decline of 0.1% in October. Actual was an increase of drop of 1.1%. Excluding auto sales, consensus was a drop of 0.1% versus a decrease of 0.1% in October. Actual was a drop of 0.9%.
The Canadian Dollar was virtually unchanged at US78.46 cents following release of Canada's November Consumer Price Index at 8:30 AM EST. Consensus was an increase of 0.2% versus a gain of 0.4% in October. Actual was an increase of 0.1%..
Aphria (APHA US$8.12) and Tilray (TLRY US$7.87) are expected to open higher after agreeing to merge. Each share of Alphria is to be exchanged into 0.8381 shares of Tilray.
![clip_image001[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/12/clip_image0011-3.png "clip_image001[1]")
PayPal added $2.05 to $223.65 after KeyBanc Capital raised its target price from $215 to $235.
![clip_image002[1]](http://www.timingthemarket.ca/techtalk/wp-content/uploads/2020/12/clip_image0021-5.png "clip_image002[1]")
Eli Lilly (LLY $167.43) is expected to open higher after KeyBanc Capital raised its target price from $156 to $164.
EquityClock's Daily Comment
Following is a link:
http://www.equityclock.com/2020/12/15/stock-market-outlook-for-december-16-2020/
Note seasonality chart on U.S. Industrial Production.
Technical Notes for Yesterday
Auto ETF (CARZ) moved above $50.68 to an all-time high extending an intermediate uptrend.
Allstate (ALL), an S&P 100 stock moved above $105.91 resuming an intermediate uptrend.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for December 15th 2020
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for December 15th 2020
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for December 15th 2020
Green: Increase from previous day
Red: Decrease from previous day
S&P 500 Momentum Barometer
The Barometer added 6.01 to 81.56 yesterday. It changed from intermediate overbought to extremely intermediate overbought on a move above 80.00.
TSX Momentum Barometer
The Barometer added 4.21 to 73.83 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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