Observations Another wild day for U.S. equity indices! The Dow Jones Industrial Average opened down about 300 points, recovered to break even and plunged to down over 500 points by the close. The VIX Index spiked. StockTwits Released Yesterday @EquityClock Technical action by S&P 500 stocks to 10:00: Bearish. No intermediate breakouts. Breakdowns: $M $BR $PGR $HCA $GILD $UNP $MU $AVY $GPN $WCG $CNC Editor’s Note: After 10:00, another 31 S&P 500 stocks broke intermediate support. Consumer Discretionary SPDRs $XLY moved below $100.31 extending an intermediate downtrend. S&P 500 Equal Weight ETF $RSP moved below $95.40 extending an intermediate downtrend. NASDAQ Biotech iShares $IBB moved below $100.66 extending an intermediate downtrend. Editor’s Note: Other biotech ETFs that broke support included BBH and FBT Another gold stock breakout! Kinross Gold $K.CA $KGC moved above $3.93 Cdn and $3.99 Cdn. setting an intermediate uptrend. Technology SPDRs $XLK moved below $63.38 extending an intermediate downtrend. ExxonMobil $XOM, a Dow Jones Industrial stock moved below $74.70 extending an intermediate downtrend. First Service Corp, $FSV.CA moved below $92.30 extending an intermediate downtrend. U.S. Telecom iShares $IYZ moved below $26.82 extending an intermediate downtrend. Berkshire Hathaway $BRK.B, a Dow Jones Industrial stock moved below $197.29 extending an intermediate downtrend. Lithium ETN $LIT moved below $28.83 extending an intermediate downtrend. Manulife Financial $MFC.CA, a TSX 60 stock dropped below $19.41 extending an intermediate downtrend. Water Resources ETF $PHO moved below $28.22 extending an intermediate downtrend. Empire #Manufacturing Survey showing -3.8 (NSA) in December, stronger than the average read for the month of -6.8. $MACRO #Economy Trader’s Corner Equity Indices and related ETFs Daily Seasonal/Technical Equity Trends for December 17th 2018 Green: Increase from previous day Red: Decrease from previous day Commodities Daily Seasonal/Technical Commodities Trends for December 17th 2018 Green: Increase from previous day Red: Decrease from previous day Sectors Daily Seasonal/Technical Sector Trends for December 17th 2018 Green: Increase from previous day Red: Decrease from previous day U.S Government Shutdown later this week Negotiations continue between President Trump and members of the Democrat party on government spending limits. A possible shutdown later this week if an agreement is not reached is one of several reasons why U.S. equities came under pressure yesterday. However, a recent study on the past 18 shutdowns since 1976 suggest that impact on equity markets during the shutdown period is limited: The S&P 500 Index gained in 9 periods and declined in 9 periods. Median change by the Index proved to be 0.0%. Technical Scoop Thanks to David Chapman and www.EnrichedInvesting for the following link: http://www.enrichedinvesting.com/PDF/Barometer-Hiding-Claus-Unsafe-Havens-Like-Phoenix-Bust-Oil-Black-Swan-Debt-Cat-and-Mouse-Wars.pdf Keith Richards’ Blog Keith says, “You are here”. Following is a link: https://www.valuetrend.ca/you-are-here/ Josef Schachter on BNN Bloomberg yesterday Following are links: Top Picks: https://www.bnnbloomberg.ca/video/josef-schachter-s-top-picks~1567046 Past Picks https://www.bnnbloomberg.ca/market-call/josef-schachter-s-past-picks~1567045 Full Program https://www.bnnbloomberg.ca/market-call/full-episode-market-call-for-monday-december-17-2018~1563786 http://www.equityclock.com/about/seasonal-advantage-portfolio/ S&P 500 Momentum Barometer The Barometer plunged 8.60 to 16.00 yesterday. It remains intermediate oversold and trending down. TSX Momentum Barometer The Barometer dropped 3.01 to 24.38 yesterday. It remains intermediate oversold. 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