Tech Talk for Friday January 24th 2025
U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points at 8:30 AM EST.
Boeing dropped $4.50 to $174.00 after the company pre-reported a large fourth quarter write down
![clip_image001[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/01/clip_image0014-6.png "clip_image001[4]")
Texas Instruments dropped $7.61 to $193.00 after issuing a first quarter earnings forecast below consensus.
![clip_image002[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/01/clip_image0024-9.png "clip_image002[4]")
Intuitive Surgical dropped $13.63 to $595.03 despite reporting strong fourth quarter results. The company also offered first quarter guidance below consensus.
![clip_image003[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/01/clip_image0034-6.png "clip_image003[4]")
CSX dropped $1.28 to $32.39 after reporting less than consensus fourth quarter revenues.
![clip_image004[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/01/clip_image0044-5.png "clip_image004[4]")
EquityClock's Stock Market Outlook for January 24th
Energy remains setup well at this seasonally strong time of year. See:
https://equityclock.com/2025/01/23/stock-market-outlook-for-january-24-2025/
Technical Notes
Europe iShares $IEV moved above intermediate resistance at $54.95. Intermediate trend changed from down to neutral.
Aerospace & Defense iShares $ITA moved above $157.54 to an all-time high extending an intermediate uptrend. According to www.EquityClock.com seasonal influences are favourable until February 21st. See:
https://charts.equityclock.com/ishares-u-s-aerospace-defense-etf-nyseita-seasonal-chart
Note that Boeing, a major component of this ETF, pre-reported a huge fourth quarter write down after the close last night. Look for ITA to open lower
Invesco Global Private Equity ETF $PSP (Think financial engineering companies such as KKR) moved above $70.70 to an all-time high extending an intermediate uptrend. According to www.EquityClock.com seasonal influences are favourable until February 21st
U.S. Telecommunications iShares $IYZ moved above $28.14 to a three year high extending an intermediate uptrend.
S&P 100 and NASDAQ 100 stocks breaking to multi-year highs included General Electric Aerospace on a move above $194.48, Abbott Labs on a move above $120.37, Marvell Technology on a move above $126.09 and Door Dash on a move above $181.30.
Electronic Arts $EA a NASDAQ 100 stock moved below $138.42 and $124.44 after reporting less than consensus quarterly results.
WSP Global $WSP.TO a TSX 60 stock moved above Cdn$259.22 to an all-time high extending an intermediate uptrend. According to www.EquityClock.com seasonal influences are favourable until March 7th.
Trader's Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for January 23rd 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 23rd 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for January 23rd 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Technology SOARS to All-Time High on Stargate News: Tom Bowley. Note seasonality comments.
Technology SOARS to All-Time High on Stargate News - YouTube
CHART THIS: AI-Fueled Growth Rally Pushes SPX Back to 6100! (1/22/25) Dave Keller
CHART THIS: AI-Fueled Growth Rally Pushes SPX Back to 6100! (1/22/25) - YouTube
Fernandez: Markets will be volatile and changeable in the first half of the year
Fernandez: Markets will be volatile and changeable in the first half of the year - YouTube
Big Tech Earnings Preview with Dan Niles: Meta, Amazon, Apple, Microsoft
Big Tech Earnings Preview with Dan Niles: Meta, Amazon, Apple, Microsoft - YouTube
Trump 2.0 Economy: Stubborn Inflation, Tariff Uncertainty & Big Tech Spending: Liz Ann Sonders on Schwab Network
Trump 2.0 Economy: Stubborn Inflation, Tariff Uncertainty & Big Tech Spending - YouTube
Trump tariffs could have a massive impact on precious metal prices, but not the way many expect: Bart Melek at TD Securities
Tech momentum into Q4 earnings: CNBC
Tech momentum into Q4 earnings - YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 3.60 to 53.00. It remains Neutral.
The long term Barometer was unchanged at 62.00. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 4.50 to 52.25. It remains Neutral. Daily trend is up.
The long term Barometer added 1.35 to 68.02. It remains Overbought. Daily trend is up.
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
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