Tech Talk for Wednesday December 9th 2020

Fastenal (FAST), a NASDAQ 100 stock moved above $49.18 to an all-time high extending an intermediate uptrend.

TSX Energy iShares (XEG) moved above $6.10 resuming an intermediate uptrend.

Pre-opening Comments for Wednesday December 9th

U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.

The Canadian Dollar was virtually unchanged at US78.26 cents prior to the Bank of Canada's announcement at 10:00 AM EST on interest rates. Consensus is that rates will remain unchanged.

Apple added $0.19 to $124.57 after Wedbush raised its target price from $150 to $160.

Campbell Soup advanced $1.44 to $49.70 after reporting higher than consensus fiscal first quarter revenues and earnings.

Mastercard (MA $340.79) is expected to open higher after the company raised its dividend by 10%.

Dollarama (DOL $53.39) is expected to open higher after the company announced higher than consensus third quarter revenues and earnings.

EquityClock's Daily Comment

Following is a link:

http://www.equityclock.com/2020/12/08/stock-market-outlook-for-december-9-2020/

Technical Notes for Tuesday December 8th

Home Depot (HD), a Dow Jones Industrial Average stock moved below $260.61 completing a Head & Shoulders pattern.

Intuit (INTU), a NASDAQ 100 stock moved above $377.15 to an all-time high extending an intermediate uptrend.

BMO Equal Weight Canadian Banks ETF (ZEB) moved above $29.06 to an all-time high extending an intermediate uptrend.

Bausch Health (BHC), a TSX 60 stock moved above $26.35 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 8th 2020

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 8th 2020

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 8th 2020

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometer

The Barometer slipped 0.40 to 81.36 yesterday. It remains extremely intermediate overbought.

TSX Momentum Barometer

The Barometer was unchanged at 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