Next Tech Talk report
Next report will be released on Monday July 7th. Trading in U.S. exchanges closes today at 1:00 PM. U.S. exchanges are closed tomorrow.
Pre-opening Comments for Thursday July 3rd
U.S. equity index futures were higher this morning. S&P 500 futures were up 18 points at 8:35 AM EDT.
S&P 500 futures added 12 points following release of U.S. economic news at 8:30 AM EDT. Consensus for June U.S. Non-farm Payrolls was a drop to 110,000 from an upwardly revised 144,000 in May. Actual was 147,000. Consensus for the June Unemployment Rate was an increase to 4.3% from 4.2% in May. Actual was a drop to 4.1%. Consensus for June Average Hourly Earnings was a 0.3% increase versus a 0.4% gain in May. Actual was a 0.2% gain. Consensus for the May U.S. Trade Deficit was an increase to $69.6 billion from $61.60 billion in April. Actual was $71.2 billion.
Datadog advanced $14.69 to $149.70 after the on news that the stock will become part of the S&P 500 on July 9th
![clip_image001[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/07/clip_image0014-1.png "clip_image001[4]")
Technical Notes
Europe iShares (IEV) moved above $63.47 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable until the end of July. See: https://charts.equityclock.com/ishares-msci-europe-imi-index-etf-tsexeu-to-seasonal-chart
Mexico iShares (EWW) moved above $61.31 extending an intermediate uptrend. Seasonal influences are favourable until the end of July. See: https://charts.equityclock.com/ishares-msci-mexico-capped-etf-nyseeww-seasonal-chart
Global Base Metals iShares (PICK) moved above $38.13 and $38.35 completing a reverse Head & Shoulders pattern. Seasonal influences are favourable to the end of July. See:
https://charts.equityclock.com/ishares-msci-global-metals-mining-producers-etf-amexpick-seasonal-chart Notable breakout by a stock in the sector was VALE on a move above $10.22 completing a double bottom pattern. Also, the Canadian equivalent Global Base Metals iShares (XBM.TO) moved above Cdn$20.90 extending an intermediate uptrend.
Global Timber iShares (WOOD) moved above $75.20 extending an intermediate uptrend.
Seasonal influences are favourable on a real and relative basis until mid-September. See: https://charts.equityclock.com/ishares-global-timber-forestry-etf-nasdwood-seasonal-chart
Also, the Invesco Global Timber ETF (CUT) moved above $31.13 setting an intermediate uptrend.
Solar ETF (TAN) moved above $35.93 completing a reverse Head & Shoulders pattern. Seasonal influences are favourable on a real and relative basis until the first week of August. See: https://charts.equityclock.com/invesco-solar-etf-nysetan-seasonal-chart
Agribusiness iShares (COW.TO) moved above Cdn$68.55 to a 30 month high extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until the end of August. See: https://charts.equityclock.com/ishares-global-agriculture-index-etf-tsecow-to-seasonal-chart
S&P 100 and NASDAQ 100 stocks breaking to new highs and extending an intermediate uptrend included Honeywell (all-time high), American Express (all-time high), Align, QUALCOMM, Analog Devices, FedEx, DuPont, Trimble and Kraft Heinz.
TSX 60 stocks breaking to new highs extending an intermediate uptrend included Rogers Communications and CCL Industries
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for July 2nd 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 2nd 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for July 2nd 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Top 10 July 2025 Stock Picks You Shouldn’t Miss
Top 10 July 2025 Stock Picks You Shouldn’t Miss – YouTube
SPX “Golden Cross” and Rotation Trade Kickstart 2H25
SPX “Golden Cross” and Rotation Trade Kickstart 2H25 – YouTube
Carter Worth Charts $AAPL After Jefferies Upgrade
https://www.youtube.com/watch?v=-8Bs4KAJ3tY
Market Signals Align – Is a Bigger Move Ahead? Frank Capperrelli
Market Signals Align – Is a Bigger Move Ahead? – YouTube
Banks: a break to a new valuation paradigm? asks TD Cowen’s Steven Alexopoulos
Banks will a break to a new valuation paradigm, says TD Cowen’s Steven Alexopoulos – YouTube
MACD Crossovers: Why Most Traders Get It Wrong: Joe Rabil
MACD Crossovers: Why Most Traders Get It Wrong – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 4.60 to 76.80. It remains Overbought.
The long term Barometer added 1.40 to 62.60. It remains Overbought. Daily uptrend was extended.
TSX Momentum Barometers
The intermediate term Barometer dropped 2.35 to 84.51. It remains Overbought.
The long term Barometer added 2.82 to 82.16. 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.
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July 3rd, 2025 at 9:56 am
Overbought market (But overbought can continue overbought) – CNN Market Sentiment indicator is now at Extreme Greed (77 out of 100) and RSI on SPX is now pushing 75. It’s not a good time to be over your skiis. On the other hand July is usually a positive month.