Tech Talk for Thursday January 2nd 2025

U.S. equity index futures were higher this morning. S&P 500 futures were up 41.75 points to 5,977.50 at 8:30 AM EST.

WTI Crude oil advanced $0.91 to $72.63 after a polar vortex expanded southward to southern U.S. states.

SoFi Technologies dropped $0.20 to $15.20 after Keefe Bruyette downgraded the stock from Market Perform to Underperform.

Neumora Therapeutics dropped $8.33 to $2.49 after its proposed depression treatment missed its endpoint.

EquityClock's Stock Market Outlook for January 2nd

The S&P 500 Index has averaged a return of 1.2% in January. However, the frequency of gains is rather muted at 58%. See:

https://equityclock.com/2024/12/31/stock-market-outlook-for-january-2-2025/

Technical Notes

Nil

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 31st 2024

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 December 31st 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 31st 2024

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Josef Schachter: Oil Prices to Rise in 2025, Stocks Now at Bargain Levels

https://www.youtube.com/watch?v=F-0sveLp0KM

What it Means for Lumber Prices, Lumber Quality, and Lumber Supply in the Future!

https://www.youtube.com/watch?v=U6r68WV477Y

Why this portfolio manager has a cautious call on the TSX: Barry Schwartz

https://www.youtube.com/watch?v=z4vvuAb-LjE

Chart of the Day: TSX Energy iShares (XEG.TO)

Technical score increased from -2 to +2 when strength relative to the S&P 500 changed from Neutral to Positive and price moved above its 20 day moving average. Seasonal influences are Positive. Responding to weather forecasts for extreme cold in North America starting next week!

S&P Momentum Barometers

The intermediate term Barometer added 0.80 to 21.00. It remains Oversold and showing early signs of bottoming.

The long term Barometer was unchanged at 56.00. It remains Neutral.

P.S. Short term (20 day) Barometer recovered from 7.80 on Friday to 10.20 on Tuesday.

TSX Momentum Barometers

The intermediate term Barometer added 4.48 to 34.08. It remains Oversold. Daily trend has turned up.

The long term Barometer added 1.35 to 60.09. It changed from Neutral to Overbought on a return above 60.00. Daily trend has turned up.

P.S. Short term (20 day) Barometer bounced from 8.68 last Friday to 29.15 on Tuesday

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