Tech Talk for Thursday July 17th 2025

U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:35 AM EDT

S&P 500 futures added 2 points following release of economic news at 8:30 AM EDT. Consensus for July Philly Fed Index was a 0.1% drop versus a 0.4% drop in June. Actual was a 15.9 gain. Consensus for June Retail Sales was a 0.2% increase versus a 0.9% drop in June. Actual was a 0.6% increase. Excluding auto sales, consensus was a 0.3% increase versus a 0.3% drop in June. Actual was a 0.5% increase.

Alcoa (AA) added $0.52 to $29.08 after reporting higher than consensus second quarter revenues and earnings. Seasonal influences are favourable until October 15th. See seasonality chart at www.equityclock.com

United Airlines dropped $1.32 to $87.14 after issuing third quarter guidance below consensus.

Taiwan Semiconductor (TSM) advanced $8.09 to $245.65 after reporting higher than consensus second quarter revenues and earnings.

PepsiCo added $3.70 to $138.05 after reporting higher than consensus second quarter results.

EquityClock's Market Outlook for July 17th

How to position portfolios surrounding the trends of industrial production. See:

https://equityclock.com/2025/07/16/stock-market-outlook-for-july-17-2025/

Technical Notes

ADP a NASDAQ 100 stock briefly moved below $296.75 setting an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 16th, 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 July 16th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 16th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

The Case for Further Upside in the Markets: Schwab Networks

The Case for Further Upside in the Markets - YouTube

Goldman Sachs, Morgan Stanley earnings top estimates

Goldman Sachs, Morgan Stanley earnings top estimates - YouTube

30 Dow Stocks in 20 Minutes: Joe Rabil's Mid Year Technical Check

https://www.youtube.com/watch?v=vpaJf1uFsfw

Why The AI Trade Is Alive & Thriving with Gene Munster

https://www.youtube.com/watch?v=Ffo3TK6s0LQ

TSM Hits All-Time High Ahead of Earnings, Needs "Blowout Quarter" to Rally

TSM Hits All-Time High Ahead of Earnings, Needs "Blowout Quarter" to Rally - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 4.20 to 64.40. It remains Overbought.

The long term Barometer added 1.80 to 58.80. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer added 0.47 to 77.46. It remains Overbought.

The long term Barometer added 0.94 to 81.69. 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.