Pre-opening Comments for Friday August 8th
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points at 8:35 AM EDT.
The Canadian Dollar dropped 0.05 to US72.68 cents following release of Canada’s July Employment Report at 8:30 AM EDT. Consensus called for a 15,300 gain versus an 83,100 gain in June. Actual was a 40,800 loss. Consensus for the July Unemployment Rate was an increase to 7.0% versus 6.9% in June. Actual was unchanged at 6.9%.
Expedia advanced $32.39 to $220.00 after reporting higher than consensus second quarter results. The company also issued positive third quarter guidance. Seasonal influences are favourable on a real and relative basis until September 9th. See seasonality chart at www.EquityClock.com
![clip_image001[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/08/clip_image0014-2.png "clip_image001[4]")
Block gained $6.15 to $83.00 after reporting higher than consensus second quarter results. The company also offered positive third quarter guidance.
![clip_image002[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/08/clip_image0024-2.png "clip_image002[4]")
Trade Desk plunged $23.08 to $65.25 after reporting lower than consensus second quarter results
![clip_image003[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/08/clip_image0034-2.png "clip_image003[4]")
Pinterest dropped $4.18 to $34.99 after reporting less than consensus second quarter earnings.
![clip_image004[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/08/clip_image0044-1.png "clip_image004[4]")
EquityClock’s Market Outlook for August 8th
Health Care is certainly not working at this seasonally favourable time of year, but many other groups are, providing a hedge against the notorious third quarter volatility in the equity market. See:
https://equityclock.com/2025/08/07/stock-market-outlook-for-august-8-2025/
Technical Notes
Junior Gold ETF (GDXJ) moved above $71.84 to an all-time high extending an intermediate uptrend.
Taiwan iShares (EWT) moved above $59.80 to an all-time high extending an intermediate uptrend. Reflecting strength in Taiwan Semiconductors (TSM), up 4.71% yesterday!
Apple (AAPL) a Dow Jones Industrial Average stock moved above $216.23 extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until September 6th. See seasonality chart at www.EquityClock.com
Cisco (CSCO) a Dow Jones Industrial Average stock moved above $69.47 extending an intermediate uptrend. Seasonal influences are favourable until October 6th. See seasonality chart at www.EquityClock.com
Nutrien (NTR) a TSX 60 stock moved below US$57.67 completing a double top pattern.
S&P 100 and NASDAQ 100 stocks moving below support setting/extending an intermediate downtrend included Eli Lilly (LLY) on a move below $675.71, Atlassian (TEAM) on a move below $173.46, McCormick (MKC) on a move below $69.56 and $69.22 and American International Group (AIG) on a move below $75.69
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for August 7th 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 August 7th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for August 7th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Liz Thomas Returns! Guy Adami, Dan Nathan and Liz Thomas
https://www.youtube.com/watch?v=v1xQD3IAqcU
How We Beat the S&P 500 by 20% This Quarter! Tom Bowley
How We Beat the S&P 500 by 20% This Quarter! – YouTube
Shopify is a powerhouse: Belski
Shopify is a powerhouse: Belski – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 3.20 to 54.20. It remains neutral.
The long term Barometer added 0.20 to 56.80. It remains neutral.
TSX Momentum Barometers
The intermediate term Barometer dropped 3.77 to 62.74. It remains Overbought.
The long term Barometer dropped 1.42 to 81.13. 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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August 8th, 2025 at 2:55 pm
QQQ going for a new all-time high close. I repeat. We are in a tech driven bull market and AI is spurring it.
August 10th, 2025 at 2:41 pm
Larry
Tech did hold in last week and bounced off the previous weeks lows. Positive, but I think it needs to continue to hold for the next 9 weeks while we run through seasonal weakness. Expect once we are through this part of the year the market is mostly likely to rally into year end, tech, financials, gold and utilities. However, still waiting for the effects of the tariffs to fully hit, as there is the possibility that Oct does not start the fall rally and we just continue downwards. The data will tell us more in the coming months.
Paula RE: AEM
AEM was another miner on my list to accumulate, but given value metrics, the value investor in me was not able to reconcile the difference vs other gold/precious miners. I do think AEM will perform well, just expect a bit of a catchup with the others to narrow the value differences.