Tech Talk for Thursday January 22nd 2026

U.S. equity index futures were higher this morning. S&P 500 futures were up 40 points at 8:30 AM EST.

Procter & Gamble dropped $2.35 to $143.71 after reporting less than consensus fourth quarter results.

Tesla added $4.81 to $436.25 after Elon Musk offered favourable update comments on the company's proposed Cybercab

Merck gained $0.15 to $111.26 and Moderna advanced $2.46 to $52.27 after offering an update on their joint development of a cancer vaccine.

EquityClock's Market Outlook for January 22nd

Looking at portfolio exposures that are not just repairing Tuesday's damage, but excelling above it. See:

https://equityclock.com/2026/01/21/stock-market-outlook-for-january-22-2026/

Technical Notes

Platinum ETN (PPLT) moved above $225.71 to an all-time high extending an intermediate uptrend.

Natural Gas ETN (UNG) moved above intermediate resistance at $13.68.

BMO Equal Weight TSX Canadian Oil ETF (ZEO.TO) moved above Cdn$83.18 to an all-time high extending an intermediate uptrend.

Global Agriculture iShares (COW.TO) moved above Cdn$69.71extending an intermediate uptrend.

S&P 100 and NASDAQ 100 stocks that broke higher extending intermediate uptrends after President Trump reached a framework of a deal on Greenland included Microchip Technology (MCHP) on a move above $75.98, ON Semiconductor (ON) on a move above $63.63 and Gilead (GILD) on a move above $127.86 to an all-time high.

TSX 60 stocks moving above resistance extending intermediate uptrends included

Canadian Natural Resources (CNQ.TO) on a move above Cdn$48.50,Teck Resources (TECK) on a move above US$53.46 to an all-time high and Gildan Activewear (GIL.TO) on a move above Cdn$90.66 to an all-time high.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 21st 2026

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 January 21st 2026

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 21st 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

RSI Signals Most Traders Misread Overbought Levels & Divergences That Matter: David Keller

RSI Signals Most Traders Misread Overbought Levels & Divergences That Matter - YouTube

I Warned This Was Coming: The Market Flush & The Netflix Crash: Verified Investing

I Warned This Was Coming: The Market Flush & The Netflix Crash - YouTube

‘Historical clock is ticking’ Goldman Sachs warns of possible correction ahead

‘Historical clock is ticking’ Goldman Sachs warns of possible correction ahead - YouTube

Instability drives volatility as risk appetite fades and global markets reprice: Liz Ann Sonders

Instability drives volatility as risk appetite fades and global markets reprice - YouTube

Yields Spike Higher: What It Means For Risk Assets: Guy Adami, Dan Nathan, Carter Worth

Yields Spike Higher: What It Means For Risk Assets - YouTube

Davos: RBC CEO David McKay on US Relations, Global Trade

Davos: RBC CEO David McKay on US Relations, Global Trade - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer advanced 6.80 to 70.20. It remains Overbought.

The long term Barometer added 3.80 to 69.20. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 3.87 to 80.28. It remains Overbought.

The long term Barometer added 2.29 to 86.24. It remains Overbought.

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.