Tech Talk for Thursday December 29th 2022

U.S. equity index futures were higher this morning. S&P 500 futures were up 19 points in pre-opening trade.

Netflix gained $1.48 to $278.38 after CFRA upgraded the stock from Sell to Buy. Target price was increased from $225 to $310.

Walt Disney advanced $0.61 to $84.78 after its latest Avator film surpassed $1 billion globally in box office sales.

Pfizer added $0.01 to $50.81 after announcing that its Hemophilia B treatment met a primary endpoint in a Phase 3 study.

EquityClock's Daily Comment

Headline reads "The put-call ratio just printed the highest level in over 25 years, highlighting the increasingly bearish bias that has become ingrained in this market, making it significantly lopsided".

http://www.equityclock.com/2022/12/28/stock-market-outlook-for-december-29-2022/

Technical Notes

Apple $AAPL a Dow Jones Industrial Average stock moved below $128.49 extending an intermediate downtrend.

AutoDesk $ADSK a NASDAQ 100 stock moved below $181.67 extending an intermediate downtrend.

Gildan Activewear $GIL.TO a TSX 60 stock moved below $36.04 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 28th 2022

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for December 28th 2022

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 28th 2021

Green: Increase from previous day

Red: Decrease from previous day

Michael Campbell's Year End Special Show

After an incredible year of stories that hit us directly in the wallet like never before - Victor and Ozzie weigh in on their choice for top story of 2022 while Mike's will surprise just about everyone with his pick.

Don Vialoux, master of cycles and seasonalities, tells us what's coming in 2023 for stocks, gold, oil and the US dollar.

Michael Campbell's MoneyTalks - Complete Show (mikesmoneytalks.ca)

Links offered by valued providers

Greg Schnell offers "Yearend review part 2".

Year End Review, Part 2 | Greg Schnell, CMT | Market Buzz (12.28.22) - YouTube

David Keller discusses "Next steps for the U.S. Dollar".

https://www.youtube.com/watch?v=z0-deAttVQU

Mish Schneider discusses "Catching Big Swings Using Phases, Leadership and Momentum"

https://www.youtube.com/watch?v=xXKn11tJX9Q

Apple is a bellwether and it’s taking the market lower, says Sarat Sethi

Apple is a bellwether and it’s taking the market lower, says Sarat Sethi - YouTube

Defense stocks will be a good place for equity exposure in ’23, says David Rosenberg

Defense stocks will be a good place for equity exposure in ’23, says David Rosenberg - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer plunged 12.60 to 44.00. It remains Neutral. Trend is down.

The long term Barometer dropped 3.80 to 48.00. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer dropped 8.47 to 44.92. It remains Neutral.

The long term Barometer dropped 6.78 to 42.37. 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