Tech Talk for Thursday July 24th 2025

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points at 8:30 AM EDT.

Europe Central Bank maintained its Overnight lending rate for banks at 2.15%

Alphabet advanced $3.71 to $195.22 after reporting higher than consensus second quarter revenues and earnings.

Tesla dropped $15.14 to $317.42 after reporting less than consensus quarterly results.

Chipotle dropped $4.79 to $47.99 after reporting less than consensus second quarter revenues. The company also lowered guidance.

Loblaw Companies is expected to open higher after reporting higher than consensus second quarter results. The company also announced a four for one stock split.

EquityClock's Market Outlook for July 24th

Energy product supplied just jumped to the highest level on record for the month of July. See:

https://equityclock.com/2025/07/23/stock-market-outlook-for-july-24-2025/

Technical Notes

Dow Jones Industrial Average SPDRs (DIA) moved above $448.82 to an all-time high extending an intermediate uptrend.

Japan iShares (EWJ) moved above $75.50 to an all-time high extending an intermediate uptrend. Responded to a tariff agreement with the U.S.!

S&P 100 and NASDAQ 100 stocks moving above resistance extending an intermediate uptrend included Johnson & Johnson (JNJ), Capital One Financial (COF), Thermo Fisher Scientific (TMO), Illumina (ILMN), JP Morgan Chase (JPM) and General Dynamics (GD). Seasonal influences are favourable for Johnson & Johnson until August 19th, for General Dynamics until October 9th and for JP Morgan until November 11th. See seasonality charts at www.equityclock.com

Bank of Nova Scotia (BNS.TO) a TSX 60 stock moved above Cdn$76.67 and$76.80 to an all-time high extending an intermediate uptrend

Intuitive Surgical (ISRG) a NASDAQ 100 stock moved below $498.17 setting an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 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 July 23rd 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 23rd 2025

Green: Increase from previous day

Red: Decrease from previous day

Canadian Association for Technical Analysis Presentation

Next presentation is offered tonight at 8:00 PM EDT. Presenter by Zoom is Dwight Galusha. Everyone is welcome. Not a member? Contact https://www.canadianata.ca/

Link offered by a valued provider

A Wild Ride For The History Books: 2025 Mid-Year Recap + Outlook: David Keller

https://www.youtube.com/watch?v=oITcprRqne8

S&P 500 Momentum Barometers

The intermediate term Barometer advanced 2.80 to 76.80. It remains Overbought.

The long term Barometer added 1.80 to 67.40. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped 0.47 to 76.53. It remains Overbought.

The long term Barometer added 0.94 to 83.10. 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.