Pre-opening Comments for Tuesday July 29th
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points at 8:30 AM EDT
Cadence Design Systems (CDNS) added $22.24 to an all-time high at $356.00 after reporting higher than consensus second quarter results. The company also raised guidance.
![clip_image001[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/07/clip_image0011-7.png "clip_image001[1]")
Whirlpool (WHR) dropped 12.91 to $85.00 after reporting less than consensus second quarter revenues and earnings.
![clip_image002[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/07/clip_image0021-5.png "clip_image002[1]")
Nucor (NUE) dropped $5.12 to $138.90 after reporting less than consensus second quarter earnings.
![clip_image003[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/07/clip_image0031-7.png "clip_image003[1]")
UnitedHealth Group (UNH) dropped after reporting lower than consensus second quarter results. The company also offered lower third quarter guidance.
![clip_image004[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/07/clip_image0041-3.png "clip_image004[1]")
EquityClock’s Market Comment for July 29th
Signs of bottoming on the US Dollar Index applying pressure on risk assets (stocks) ahead of the volatile phase for stocks in August and September. See:
https://equityclock.com/2025/07/28/stock-market-outlook-for-july-29-2025/
Technical Notes
Intuit (INTU) an S&P 100 stock moved above $789.53 to an all-time high extending an intermediate uptrend. Seasonal influences on a real and relative basis are favourable until October 6th. See seasonality charts at www.EquityClock.com
Coca Cola (KO) a Dow Jones Industrial Average stock moved below $68.10 completing a double top pattern.
Cenovus Energy (CVE.TO) a TSX 60 stock moved above Cdn$20.52 and Cdn$20.59 extending an intermediate uptrend.
Oil Services Index ($OSX) moved above $64.09 extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for July 28th 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 28th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for July 28th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
3 Sectors to Watch During Market Uncertainty: ValueTrendCanada
https://www.youtube.com/watch?v=RUR8C4pC6J0
Chart Check: S&P 500 After EU Trade Deal: Guy Adami, Dan Nathan and Carter Worth
Chart Check: S&P 500 After EU Trade Deal – YouTube
Consequential week for the economy: Fed meeting, tariff deadline, jobs report: Steve Leisman
Consequential week for the economy: Fed meeting, tariff deadline, jobs report – YouTube
RBC’s Helima Croft: Here’s what the U.S.-EU trade deal means for energy
RBC Helima Croft: Here’s what the U.S.-EU trade deal means for energy – YouTube
Dumb Luck & The Art Of The EU Trade Deal: Guy Adami and Dan Nathan
Dumb Luck & The Art Of The EU Trade Deal – YouTube
AAPL, AMZN & MSFT: Charting This Week’s Mag 7 Earnings
AAPL, AMZN & MSFT: Charting This Week’s Mag 7 Earnings – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 6.00 to 67.80. It remains Overbought.
The long term Barometer dropped 2.80 to 64.20.It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer dropped 1.89 to 69.81. It remains Overbought. Daily downtrend was extended.
The long term Barometer dropped 0.47 to 83.02. 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 29th, 2025 at 9:09 am
CAD – 72.47 is an important support level. The CAD bulls may head for the exits if that level breaks and we could go to much lower levels. I think the perceived one-sided trade agreement with the EU is creating a pessimistic outlook for Canada putting pressure on CAD.
NVDA – The bulls were correct all along and here we are about to hit $180
July 29th, 2025 at 10:34 am
Cdn Banks – The chart on ZEB is remarkable because RSI has been above 70 since May 12th. Overbought continues overbought. I don’t have a subscription for Stockcharts but on the five year chart I’m looking at that is the most extended overbought period. Looking at individual names over the past couple of weeks RY has been weak and BMO has gone sideways. TD has gone below RSI 70 but has not broke its’ uptrend. BNS has been the dark horse outperforming the others. I have been profit taking on BMO.