Tech Talk for Wednesday December 6th 2023

U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points at 8:35 AM EST

U.S. equity index futures added 4 points following release of the U.S. Trade Deficit at 8:30 AM EST. Consensus was $64.10 billion, an increase from $61.50 billion in September. Actual was $64.3 billion.

The Bank of Canada updates its overnight lending rate for major Canadian banks at 10:00 AM EST. Consensus calls for no change in the rate at 5.00%.

Toll Brothers added $1.79 to $89.00 after reporting higher than consensus fiscal fourth quarter earnings. The company also offered positive guidance for fiscal 2024.

MasterCard gained $2.06 to $410.75 after the company raised its dividend by 16%.

Box dropped $2.95 to $23.74 after reporting less than consensus third quarter earnings. The company also lowered guidance.

Technical Notes

Oil and Gas Exploration & Production SPDRs $XOP moved below $134.99 and $134.79 completing a double top pattern.

Lithium ETN moved below $46.66 extending an intermediate downtrend.

Palladium ETN $PALL moved below $88.07 extending an intermediate downtrend.

Hong Kong iShares $EWH moved below $16.61 extending an intermediate downtrend.

Costco $COST an S&P 100 stock moved above $599.89 and $603.45 to an all-time high extending an intermediate uptrend.

T-Mobile $TMUS a NASDAQ 100 stock moved above $153.71 to an all-time high extending an intermediate uptrend.

Charter Communications $CHTR an S&P 100 stock moved below $369.07 extending an intermediate downtrend.

S&P/TSX Energy Index moved below 250.28 and 250.15completing a Head & Shoulders pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for Dec.5th 2023

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 Dec.5th 2023

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for Dec.5th 2023

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Is Every Stock on the Planet Overbought Right Now?! | The Final Bar (12.04.23)

Is Every Stock on the Planet Overbought Right Now?! | The Final Bar (12.04.23) - YouTube

Small Caps Are The Next Stop On Party Route | Trading Places (12.05.23)

Note comments on Russell 2000 (IWM) relative to QQQ.

Small Caps Are The Next Stop On Party Route | Trading Places (12.05.23) - YouTube

Stock market has ‘modest upside’ in 2024, says Goldman’s David Kostin

Stock market has ‘modest upside’ in 2024, says Goldman’s David Kostin - YouTube

Next 6-7 months will be rough for Canadians: Desjardins CEO

Next 6-7 months will be rough for Canadians: Desjardins CEO - YouTube

What Lower Interest Rates Mean for Stocks | The Final Bar (12.05.23)

https://www.youtube.com/watch?v=kMkVrV52UdA

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 2.60 to 82.80. It remains Overbought.

The long term Barometer dropped 4.40 to 62.80. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped 3.52 to 70.48. It remains Overbought.

The long term Barometer dropped 3.96 to 49.78. It remains Neutral.

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