Pre-opening Comments for Thursday January 8^th

U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points at 8:35 AM EST.

S&P 500 futures slipped 3 points following release of the U.S. October Trade Deficit at 8:30 AM EST. Consensus was $58.4 billion versus $52.8 billion in September. Actual was $29.4 billion.

Constellation Brands (STZ) gained $3.91 to $144.40 after reporting higher than consensus third quarter results.

Boeing added $3.88 to $232.00 after Alaska Airlines ordered 150 Boeing 737 aircraft

Nvidia advanced $0.68 to $189.85 on expectation that additional sales of its advanced chips to China will proceed.

EquityClock’s Market Outlook for January 8^th

Short-term chart shows the S&P 500 Index trading within a narrowing rising range that ultimately culminates around the psychologically important 7000 level. See:

https://equityclock.com/2026/01/07/stock-market-outlook-for-january-8-2026/

Technical Notes

Healthcare SPDRs (XLV) moved above $158.28 to an all-time high extending an intermediate uptrend

NASDAQ Biotech iShares (IBB) moved above $174.21 to an all-time high extending an intermediate uptrend.

Breakouts by large cap health care and biotech stocks included Regeneron Pharmaceutical (REGN) on a move above $174.21 to an all-time high, Biogen (BIIB) on a move above$185.17,

Eli Lilly (LLY) on a move above $1111.99 to an all-time and Incyte (INCY) on a move above $109.28 and $110.36 to an all-time high.

S&P 100 stocks moving below support extending intermediate downtrends included Kraft Heinz (KHC) on a move below $23.33, Mondelez (MDLZ) on a move below $50.54 and Pepsico (PEP) on a move below $137.25.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 7^th 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 7^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 7^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Momentum Is Building — These Stocks Stand Out! Joe Rabil

Momentum Is Building — These Stocks Stand Out! – YouTube

The Bullish Signals That Investors Overlook: Mike Wilson from Morgan Stanley

The Bullish Signals That Investors Overlook – YouTube

Trump: I will not permit dividends or stock buybacks for defense companies

Trump: I will not permit dividends or stock buybacks for defense companies – YouTube

Mag7 Relative Strength: The Most Important Chart In The Market? Guy Adami and Dan Nathan

Mag7 Relative Strength: The Most Important Chart In The Market? – YouTube

Carter Worth: Bourbon, Charts & Bearish-to-Bullish Reversal: Danny Moses

Carter Worth: Bourbon, Charts & Bearish-to-Bullish Reversals – YouTube

‘Choppy’ 2026? Expert warns market volatility could lie ahead: Dan Niles

‘Choppy’ 2026? Expert warns market volatility could lie ahead – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 4.80 to 61.60. It remains Overbought.

The long term Barometer dropped 3.00 to 61.80. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped 6.16 to 71.09. It remains Overbought.

The long term Barometer dropped 2.84 to 81.04. 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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