Tech Talk for Wednesday January 21st 2026

U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points at 8:30 AM EST.

Netflix dropped $3.25 to $83.81 despite reporting higher than consensus fourth quarter revenues. The company also lowered first quarter guidance.

United Airlines advanced $2.00 to $110.52 after reporting higher than consensus fourth quarter earnings. The airliner also offered favourable first quarter guidance.

Kraft Heinz dropped $1.37 to $22.39 on news that Berkshire Hathaway is considering the sale of its 27.5% interest in the company.

Halliburton added $0.69 to $32.76 after reporting higher than consensus fourth quarter results.

EquityClock's Market Outlook for January 21st

Bracing for the kind of volatility that is average around this time of year. See:

https://equityclock.com/2026/01/20/stock-market-outlook-for-january-21-2026/

Technical Notes

Broadly based U.S. equity indices and related ETFs moved below key levels: S&P 500 Index moved below its 20 moving average at 6,909.76 and its 50 day moving average at 6,829.73. NASDAQ 100 units (QQQ) moved below its 20 day moving average at 620.49 and its 50 day moving average at 615.46. Dow Jones Industrial Average moved below its 20 day moving average at 48,854.22.

20+ year U.S. Treasury Notes iShares (TLT) moved below $86.83 extending an intermediate downtrend. Conversely, yield on 10 year Treasuries ($TNX) moved above 4.20% completing a reverse Head & Shoulders pattern.

S&P 100 and NASDAQ 100 stocks moving below support setting/extending intermediate downtrends included Berkshire Hathaway (BRK.B) on a move below $488.92, AbbVie (ABBV) on move below $210.00, Intuitive Surgical (ISRG) on a move below $537.69, Vertex Pharmaceutical (VRTX) on a move below $433.81, MMM (MMM) on a move below $158.45, PayPal (PYPL) on a move below $55.72, PDD Inc (PDD) on a move below $104.19, Qualcomm (QCOM) on a move below $158.04, Match Group (MCHP) on a move below $30.70, Check Point Software (CHRP) on a move below $178.68 and Paychex (PAYX) on a move below $107.80.

Brazil iShares (EWZ) moved above $33.62 to a 14 year high extending an intermediate uptrend. Seasonal influences are favourable until February 23rd. See seasonality chart at www.EquityClock.com

S&P/TSX Technology iShares (XIT.TO) moved below Cdn$74.86 completing a Head & Shoulders pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 20th 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 20th 2026

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 20th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Large Caps Flash Warning… Top Risk Increasing | Trading Places Live! January 20, 2026

Tom Bowley

Large Caps Flash Warning… Top Risk Increasing | Trading Places Live! January 20, 2026 - YouTube

Tariff Volatility Reemerges: Keep These Key Market Indicators on Watch: Schwab Network

Tariff Volatility Reemerges: Keep These Key Market Indicators on Watch - YouTube

S&P 500 Momentum Barometers

Intermediate term Barometer plunged 8.60 to 63.40. It remains Overbought.

The long term Barometer dropped 3.60 to 65.40. It remains Overbought.

TSX Momentum Barometers

Intermediate term Barometer dropped 5.96 to 76.61. It remains Overbought.

The long term Barometer dropped 1.83 to 83.94. 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.