Tech Talk for Wednesday January 8th 2025

U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points at 8:30 AM EST.

American Airlines AAR gained $3.76 to $65.51 after reporting higher than consensus second quarter revenues and earnings.

Cal-Maine advanced $5.30 to $108.98 after reporting higher than consensus fiscal second quarter revenues and profits.

Flutter dropped $6.86 to 245.00 after issuing an earnings and revenue warning.

EquityClock's Stock Market Outlook for January 8th

If seasonal norms for post-election years hold true, we could be in store for another couple of months of dollar and yield strength, presenting a headwind against equity prices. See:

https://equityclock.com/2025/01/07/stock-market-outlook-for-january-8-2025/

Next Tech Talk report

Next report is released on Friday. U.S. equity markets are closed tomorrow and news impacting Canadian equity markets is expected to be minimal.

Technical Notes

Nvidia $NVDA an S&P 100 stock moved above $152.88 to an all-time high extending an intermediate uptrend. The stock subsequently came under profit taking pressures.

Adobe $ADBE an S&P 100 stock moved below $413.97 to an 18 month low extending an intermediate downtrend.

Keurig Dr. Pepper $KDP a NASDAQ 100 stock moved below $30.68 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 7th 024

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 7th 2024

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 7th 2024

Green: Increase from previous day

Red: Decrease from previous day

Chart of the Day: U.S. Gold Bullion (GLD)

Technical score increased from 0 to 4 when strength relative to the S&P 500 changed from Neutral to Positive and units moved above their 20 day moving average. Seasonal influences are Positive until April 27th.

Links offered by valued providers

Double Trouble: TSLA and AAPL Downgrades: Schwab Network

Double Trouble: TSLA and AAPL Downgrades - YouTube

Healthy year for market returns despite volatility: BMO Private Wealth strategist

Healthy year for market returns despite volatility: strategist - YouTube

Canadian dollar outlook amid political uncertainty: Strategist at Macquarie

Canadian dollar outlook amid political uncertainty - YouTube

Is Nvidia Nearing "The Danger Zone?" Guy Adami and Dan Nathan

Note comments on Nvidia, Apple and Tesla

Is Nvidia Nearing "The Danger Zone?" - YouTube

Why natural gas may become a popular theme in 2025: Barometer Capital

Why natural gas may become a popular theme in 2025 - YouTube

CHART THIS with David Keller, CMT Tuesday 1/7/25

https://www.youtube.com/watch?v=hla0aLR6sTY

S&P 500 Barometer

The intermediate term Barometer was unchanged at 24.40. It remains Oversold.

The long term Barometer slipped 0.80 to 53.80. It remains Neutral.

Short term (20 day) Barometer added 0.20 to 27.00. It remains Oversold. Daily trend remains up.

TSX Barometer

The intermediate term Barometer dropped 3.59 to 38.12. It changed back from Neutral to Oversold on a return below 40.00.

The long term Barometer was unchanged at 65.92. It remains Overbought.

P.S. The short term (20 day) Barometer dropped 4.04 to 41.70. It remains Neutral.

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