Pre-opening Comments for Tuesday January 6th
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged at 8:30 AM EST
Under Armour added $0.17 to $5.59 after Fairfax Financial purchased a stake in the company.
![clip_image001[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2026/01/clip_image0011.png "clip_image001[1]")
Nvidia advanced $1.03 to $189.15 following its presentation last night at the Consumer Electronic Show.
![clip_image002[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2026/01/clip_image0021-1.png "clip_image002[1]")
CoreWeave gained $1.61 to $78.47 after announcing integration of Nvidia’s Rubin platform into its AI cloud service.
![clip_image003[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2026/01/clip_image0031.png "clip_image003[1]")
Microchip Technology added $2.59 to $69.34 after the company raised its revenue forecast.
![clip_image004[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2026/01/clip_image0041.png "clip_image004[1]")
EquityClock’s market outlook for January 6th
The market is continuing to emphasize its cyclical focus as the Santa Claus Rally period (according to our definition) seeks to conclude with a strong gain. See:
https://equityclock.com/2026/01/05/stock-market-outlook-for-january-6-2026/
Technical Notes
Dow Jones Industrial Average ($INDU) moved above 48,886.66 to its all-time high and its SPDR (DIA) moved above $488.60 to an all-time high
Semiconductor iShares (SOXX) moved above $316.89 to an all-time high extending an intermediate uptrend.
Energy SPDRs (XLE) moved above $46.98 to an all-time high extending an intermediate uptrend.
S&P Mines and Metals SPDRs (XME) moved above $110.95 to an all-time high extending an intermediate uptrend. In Canada, BMO’s Equal Weight Global Base Metals ETF (ZMT.TO) moved above Cdn$111.34 to an all-time high.
Japan iShares (EWJ) moved above $82.23 to an all-time high extending an intermediate uptrend.
S&P 100 and NASDAQ 100 stocks moving above resistance and setting/extending intermediate uptrends included Chevron (CVX) on a move above $98.73, ConocoPhillips (COP) on a move above $163.27, Schlumberger (SLB) on a move above $40.88, Bank of New York Mellon (BK) on a move above $40.88, Blackrock (BLK) on a move above $1,107.26, Goldman Sachs (GS) on a move above $919.10, Morgan Stanley (MS) on a move above $181.98, Old Dominion Freight (ODFL) on a move above $163.19, Applied Materials (AMAT) on a move above $276.10, eBay (EBAY) on a move above $88.34, Synopsis (SNPS) on a move above $482.23, ON Semiconductor (ON) on a move above $57.52, Thermo-Fisher Scientific (TMO) on a move above$601.87, Ross Stores on a move above $185.85, MercadoLibre (MELI) on a move above $2,163.00 and Danaher on a move above $234.67..
S&P 100 and NASDAQ 100 stocks moving below support and setting/extending intermediate downtrends included Coca Cola (KO) on a move below $68.79, Exelon (EXC) on a move below $42.97, Gilead (GILD) on a move below $118.00, Paychex (PAYX) on a move below $108.00 and American Electric Power (AEP) on a move below $113.77 and $113.68.
Bank of Montreal (BMO-TO) a TSX 60 stock moved above Cdn$102.89 to an all-time high extending an intermediate uptrend.
CAE (CAE.TO) a TSX 60 stock moved above Cdn$42.43 to an all-time high extending an intermediate uptrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for January 5th 2026
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 5th 2026
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for January 5th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Semis vs Software + Charts To Start 2026 Off Right! Guy Adami, Dan Nathan and Carter Worth
Semis vs Software + Charts To Start 2026 Off Right! – YouTube
Could Venezuelan oil displace Canadian oil? Jamie Murray
Could Venezuelan oil displace Canadian oil? – YouTube
Invest Better in 2026: 4 Rules from 40 Years of Trading! ValueTrendCanada
Invest Better in 2026: 4 Rules from 40 Years of Trading! – YouTube
Tom Lee Explains His 7,700 S&P 500 Call & Bitcoin Outlook
Tom Lee Explains His 7,700 S&P 500 Call & Bitcoin Outlook – YouTube
The road ahead for the Canadian dollar in 2026
The road ahead for the Canadian dollar in 2026 – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer added 3.40 to 62.60. It changed from Neutral to Overbought on a recovery above 60.00.
The long term Barometer added 1.40 to 62.00. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 1.42 to 75.36. It remains Overbought.
The long term Barometer was unchanged at 82.94. 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
|
|
January 6th, 2026 at 5:27 pm
For the sake of opening up some discussion, here are some thoughts:
It seems that CNR.TO is stabilizing; has room to move up to test some resistance levels; if it can break above, there is lots of room overhead.
TD and RY had all time highs today but closed lower. Maybe they will have some kind of correction and provide an entry opportunity.
XBM.TO got away from me. I didn’t have the patience to stay with it and got out way too soon.
I was going to send charts but I can’t figure out how to do it with the new stockcharts format. I need to figure that out when I have more patience…