by Don Vialoux, EquityClock.com
Technical Notes released yesterday at
Yet again, the seasonal adjustment factor is providing a distorted view of the health of the labor market. Payrolls in the US were higher by 778,000 (NSA), or 0.5%, in November, stronger than the 0.2% increase that is average for the month. $STUDY $MACRO #Economy #Employment #NFP
Employment in Canada diverged from seasonal norms in November, rising by 93,600 (NSA), or 0.5%, much stronger than the 0.3% decline that is normal for this second to last month of the year. $MACRO $STUDY #CDNecon #CAD
O’Reilly $ORLY a NASDAQ 100 stock moved above $669.09 to an all-time high extending an intermediate uptrend.
Abbott Labs $ABT an S&P 100 stock moved above $131.60 to an all-time high extending an intermediate uptrend.
Fastenal $FAST a NASDAQ 100 stock moved above$61.76 to an all-time high extending an intermediate uptrend.
AbbVie $ABBV an S&P 100 stock moved above $120.07 to an all-time high extending an intermediate uptrend.
Tesla $TSLA a NASDAQ 100 stock moved below $978.60 completing a double top pattern.
Seattle Genetics $SGEN a NASDAQ 100 stock moved below another intermediate support level at $147.47 extending an intermediate downtrend.
Natural Gas ETN $UNG moved below another intermediate support level at $13.10 extending an intermediate downtrend.
BCE $BCE.CA a TSX 60 stock moved above $66.20 to an all-time high extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for Dec.6th 2021
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for Dec.6th 2021
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for Dec.6th 2021
Green: Increase from previous day
Red: Decrease from previous day
All seasonality ratings are based on performance relative to the S&P 500 Index (except TSX).
Links offered by Valued Providers
Larry Williams asks “Will we get a Christmas Rally this year”?
Will We Get a Christmas Rally? | Larry Williams Special Presentation (12.06.21) – YouTube
Editor’s note: The S&P 500 Index has a history of moving higher from mid-December to the first week in January during Post Presidential Election years.
Sprott Research says ”Gold correction nearing its end”
Sprott Monthly Report: Gold Correction Nearing its End
S&P 500 Momentum Barometers
The intermediate term Barometer added 9.62 to 51.10 yesterday. It remained Neutral and moving higher.
The long term Barometer gained 6.21 to 66.53 yesterday. It remains Overbought and moving higher.
TSX Momentum Barometers
The intermediate term Barometer jumped 12.04 to 37.50 yesterday. It remains Oversold and moving higher.
The long term Barometer advanced 5.09 to 55.56 yesterday. It remains Neutral and moving higher.
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
This post was originally publised at Vialoux's Tech Talk.
