Pre-opening Comments for Friday January 9^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 22 points at 8:35 AM EST.

S&P 500 futures added 9 points following release of the U.S. December Employment Report at 8:30 AM EST. Consensus was a gain of 73,000 versus a gain of 64,000 in November. Actual was a 50,000 gain. Consensus for the December Unemployment Rate was unchanged at4.5% from a revised 4.5% in October. Actual was a slip to 4.4%.

The Canadian Dollar added 0.05 to US72.08 cents following release of Canada’s December Employment Report at 8:30 AM EST. Consensus was a drop in employment to 2,500 drop from a 53.600 gain in November. Actual was an 8,200 gain. Consensus for the December Unemployment Rate was an increase to 6.7% from 6.5% in November. Actual was an increase to 6.8%.

The U.S. Supreme Court is scheduled to rule on President Trump’s tariff policies today.

General Motors dropped $1.73 to $83.40 after reporting a large non-recurring $6 billion loss related to a slowdown in EV production.

EquityClock’s Market Outlook for January 9^th

Resolution of the tight consolidation range in the bond market will be critical to stocks following event related catalysts in the days ahead. See:

https://equityclock.com/2026/01/08/stock-market-outlook-for-january-9-2026/

Technical Notes

Regional Bank SPDRs (KRE) moved above $67.66 and $67.99 extending an intermediate uptrend.

Global Agribusiness iShares (COW.TO) moved above Cdn$64.86 completing a double bottom pattern.

S&P 100 and NASDAQ 100 stocks moving above resistance setting/extending an intermediate uptrend included General Motors (GM) on a move above $83.68 to an all-time high, Ford (F) on a move above $13.99, Alphabet (GOOG) on a move above $328.46 to an all-time high,

Target (TGT) on a move above $106.39 and Accenture (ACN) on a move above $281.13.

American Tower (AMT) an S&P 100 stock moved below $169.12 extending an intermediate downtrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for January 8^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 8^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for January 8^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

The Market is Up, But the Warning Signs Are Adding Up! Tom Bowley

The Market is Up, But the Warning Signs Are Adding Up! (stockcharts.com)

Financials, Semiconductors, and Bitcoin Are Moving: Here’s Why: Frank Cappelleri

Financials, Semiconductors, and Bitcoin Are Moving: Here’s Why – YouTube

Tom Lee: Why a Midyear Market Pullback Is Likely

Tom Lee: Why a Midyear Market Pullback Is Likely – YouTube

Morgan Stanley’s Mike Wilson: Could see multiple expansion in the back half of 2026

Morgan Stanley’s Mike Wilson: Could see multiple expansion in the back half of 2026 – YouTube

Market Call: Jamie Murray’s outlook on North American Equities

Market Call: Jamie Murray’s outlook on North American Equities – YouTube

If The Venezuela “Shock” Didn’t Spike Risk… What Will? Guy Adami, Dan Nathan and Liz Thomas

If The Venezuela “Shock” Didn’t Spike Risk… What Will? – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer advanced 8.20 to 69.80. It remains Overbought. Daily uptrend resumed.

The long term Barometer added 4.20 to 66.00. It remains Overbought. Daily uptrend resumed.

TSX Momentum Barometers

The intermediate term Barometer advanced 5.06 to 76.15. It remains Overbought.

The long term Barometer added 2.90 to 83.94. 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

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