Tech Talk for Friday January 31st 2025

U.S. equity index futures were higher this morning. S&P 500 futures added 24 points at 8:35 AM EST.

S&P 500 futures slipped 4 points following release of economic news at 8:30 AM EST. Consensus for the December Core PCE Price Index was a 0.2% increase versus a 0.1% gain in November. Actual was a 0.2% gain. December U.S. Personal Income was expected to increase 0.4% versus a 0.3% gain in November. Actual was a 0.4% gain. December U.S. Personal Spending was expected to increase 0.4% versus a 0.4% gain in November. Actual was a 0.6% increase.

The Canadian Dollar slipped 0.07 to 69.07 following release of Canada's November GDP at 8:30 AM EST. Consensus was a 0.1% ease versus a 0.3% increase in October. Actual was a 0.2% drop.

Celestica advanced $20.79 to US$165.78 after reporting higher than consensus fourth quarter revenues.

Altassian gained $51.05 to $318.00 after reporting higher than consensus fourth quarter revenues.

Apple added $7.66 to $244.75 after offering positive guidance.

EquityClock's Stock Market Outlook for January 31st

Signs of complacency in the market continue to emerge. See:

https://equityclock.com/2025/01/30/stock-market-outlook-for-january-31-2025/

Technical Notes

Spot Gold futures moved above US$2,801.80 per ounce to an all-time high extending an intermediate uptrend. Gold bullion SPDRs $GLD moved above $257.71 to an all-time high extending an intermediate uptrend. Gold Miners ETF $GDX moved above intermediate resistance at $38.72. Notable among gold stock gainers was Franco-Nevada $FDX.TO on a move above Cdn$190.77 and US$137.20

S&P 100 and NASDAQ 100 stocks breaking above intermediate resistance extending an uptrend included IBM on a move above $239.35 to an all-time high, Check Point on a move above $210.70 to an all-time high, Roper Technologies on a move above $579.15 to an all-time high, Lululemon $LULU on a move above $420.21, Charles Schwab on a move above $83.35

S&P 100 stocks moving below support setting intermediate downtrends included Comcast, FedEx and UPS

Thomson Reuters $TRI.TO a TSX 60 stock moved above Cdn$243.42 to an all-time high extending an intermediate uptrend.

TSX Composite Index moved above 25,843.20 to an all-time high extending an intermediate uptrend

Shopify $SHOP.TO a TSX 60 stock moved above Cdn$171.84 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 30th 2025

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 30th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 30th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Watch for These Bear Market WARNING Signs! Tom Bowley

Watch for These Bear Market WARNING Signs! - YouTube

Market Outlook After Big Tech "Mixed Bag," Unchanged Fed Rate: Schwab Network

Market Outlook After Big Tech "Mixed Bag," Unchanged Fed Rate - YouTube

Biggest Risks to the Market: Mike Wilson on First Half Volatility: Guy Adami, Dan Nathan and Mike Wilson

Biggest Risks to the Market: Mike Wilson on First Half Volatility - YouTube

CHART THIS with David Keller, CMT Thursday 1/30/25

https://www.youtube.com/watch?v=Uk0B6JsXTbc

S&P 500 Momentum Barometers

The intermediate term Barometer added 5.40 to 56.80. It remains Neutral.

The long term Barometer added 2.60 to 64.00. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 6.31 to 47.30. It remains Neutral

The long term Barometer added 2.70 to 68.47. 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