Tech Talk for Wednesday December 23rd 2020

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.

Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for November Durable Goods Orders was an increase of 0.3% versus a gain of 1.3% in October. Actual was an increase of 0.9% Excluding Transportation Orders, consensus for November Durable Goods Orders was an increase of 0.5% versus a gain of 1.3% in October. Actual was an increase of 0.4%. Consensus for November Personal Income was a drop of 0.3% versus a drop of 0.7% in October. Actual was a drop of 1.1%. Consensus for November Personal Spending was a decrease of 0.2% versus a gain of 0.5% in October. Actual was a decrease of 0.4%. Consensus for Weekly Jobless Claims was unchanged from last week at 885,000.. Actual was 803,000.

Pfizer gained $0.26 to $37.00 following news that an agreement had been reached with the Federal Government to supply an additional 100 million doses of its COVID 19 vaccine.

Merck improved $0.33 to $79.75 after signing a $356 million deal to supply an experimental COVID 19 therapy.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2020/12/22/stock-market-outlook-for-december-23-2020/

Note seasonality chart on U.S Existing Home Sales

Technical Notes for December 22nd

Intuitive Surgical (ISRG), a NASDAQ 100 stock moved above $713.07 to an all-time high extending an intermediate uptrend.

Seasonal influences are positive at this time of year. See:

https://charts.equityclock.com/intuitive-surgical-inc-nasdisrg-seasonal-chart

Workday (WDAY), a NASDAQ 100 stock moved above $248.75 to an all-time high extending an intermediate uptrend.

Seasonal influences turn positive in mid-December for a trade lasting to the end of February. See: https://charts.equityclock.com/workday-inc-nasdwday-seasonal-chart

Moderna (MRNA), a NASDAQ 100 stock moved below $128.10 completing a double top pattern.

Check Point (CHKP), a NASDAQ 100 stock moved above $130.98 extending an intermediate uptrend.

Seasonal influences turn positive in mid-December for a seasonal trade into mid-March. See:

https://charts.equityclock.com/check-point-software-technologies-nasdchkp-seasonal-chart

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 22nd 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 1.00 to 78.76 yesterday. It remains intermediate overbought

TSX Momentum Barometer

The Barometer slipped another 0.47 to 71.03 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