Tech Talk for Wednesday December 4th 2024

U.S. equity index futures were higher this morning. S&P 500 futures were up 17 points at 8:30 AM EST.

Salesforce.com advanced $18.48 to $349.91 after reporting higher than consensus third quarter revenues.

UnitedHealth Group dropped $5.23 to $600.00 after offering lower than consensus fourth quarter guidance

Pure Storage advanced $14.32 to $67.86 after reporting higher than consensus third quarter revenues and earnings. The company also offered positive fourth quarter guidance.

Royal Bank is expected to open higher after reporting higher than consensus fiscal fourth quarter earnings. The Bank also raised its dividend by 4%.

EquityClock's Market Outlook for December 4th

Years ending in "5" are typically positive for stocks, but, with comparisons being made to the equity market performance in 1995, is the macroeconomic momentum sufficient to fuel upbeat expectations? See:

https://equityclock.com/2024/12/03/stock-market-outlook-for-december-4-2024/

Technical Notes

South Korea iShares $EWY moved below $55.69 extending an intermediate downtrend. Units responded to news that the government invoked emergency martial law. Units subsequently recovered on news that the President lifted the martial law order.

Meta Platform $META an S&P 100 stock moved above $602.95 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 3rd 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 3rd 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 3rd 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

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

RBC’s Lori Calvasina on her S&P 500 target of 6,600 by end of 2025

RBC’s Lori Calvasina on her S&P 500 target of 6,600 by end of 2025 - YouTube

Financials Primed to Beat Tech in December! Julius de Kempenaer

Financials Primed to Beat Tech in December! - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 3.80 to 64.00. It remains Overbought.

The long term Barometer dropped 1.60 to 74.40. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer jumped 10.95 to 68.49. It changed from Neutral to Overbought on a move above 60.00. Daily trend is up.

The long term Barometer added 0.91 to 76.26. It remains Overbought. Daily trend is up.

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