Pre-opening Comments for Wednesday January 29^th

U.S. equity index futures were lower this morning. S&P 500 futures were down 14 points at 8:30 AM EST.

Bank of Canada’s Decision on interest rates is released at 9:45 AM EST on Wednesday. Consensus calls for a 0.25% drop to 3.00%. Press Conference is offered at 10:30 AM EST

FOMC decision on interest rates is released at 2:00 PM EST on Wednesday. Consensus calls for no change in the Fed Fund Rate at 4.50%. Press conference is offered at 2:30 AM EST.

Starbucks added $2.65 to $103.06 after reporting higher than consensus fourth quarter earnings.

Stryker dropped $5.25 to $389.90 after reporting less than consensus fourth quarter earnings.

T-Mobile advanced $17.86 to $239.00 after reporting a higher than consensus increase in paid phone additions.

EquityClock’s Stock Market Outlook for January 29^th

Monday’s gap fill is underway. See:

https://equityclock.com/2025/01/28/stock-market-outlook-for-january-29-2025/

Technical Notes

S&P/TSE Global Base Metals iShares $XBM.TO moved below Cdn$19.40 extending an intermediate downtrend. Notable among base metal stocks moving below support was Southern Copper $SCCO, one of the world’s largest copper miners.

S&P 100 and NASDAQ 100 stocks breaking resistance extending an intermediate uptrend included Boeing on a move above $182.57, Okta on a move above $91.43, Raytheon Technologies on a move above $128.02 to an all-time high, O’Reilly Automotive on a move above $1,283.96 to an all-time high, Royal Caribbean Cruises on a move above $258.10 to an all-time high and Accenture on a move above $375.74.

Texas Instruments $TXN an S&P 100 stock moved below $183.35 extending an intermediate downtrend.

Lockheed Martin $LMT an S&P 100 stock moved below $461.24 extending an intermediate downtrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 28^th 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 28^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 28^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

What’s NEXT for Semiconductors After Monday’s SHOCKING Drop? Dave Keller

What’s NEXT for Semiconductors After Monday’s SHOCKING Drop? – YouTube

Financials remain our top market sector, says Fundstrat’s Tom Lee

Financials remain our top market sector, says Fundstrat’s Tom Lee – YouTube

Nvidia Selloff: Nassim Taleb, Black Swan Author, Says Rout ‘Is the Beginning’

Nvidia Selloff: Nassim Taleb, Black Swan Author, Says Rout ‘Is the Beginning’ – YouTube

Why investors should focus on fundamentals amid trade noise; Brian Belski

Why investors should focus on fundamentals amid trade noise – YouTube

CHART THIS with David Keller, CMT Tuesday 1/28/25

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

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 6.60 to 54.60. It changed from Overbought to Neutral on a drop below 60.00.

The long term Barometer dropped 2.60 to 63.40. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer slipped 1.80 to 42.79. It remains Neutral.

The long term Barometer was unchanged at 64.41. 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

More from the network: Stock Market Outlook for January 30, 2025 Stock Market Outlook for January 29, 2025 Stock Market Outlook for January 28, 2025 Stock Market Outlook for January 27, 2025 Stock Market Outlook for January 24, 2025