Pre-opening Comments for Friday July 17^th

U.S. equity index futures were lower this morning. S&P 500 futures were down 71 points at 8:35 AM EDT. Notably weaker was the NASDAQ Composite Index, down 560 points at 8:35 AM EDT.

S&P 500 futures dropped 3 points following release of June U.S. Housing Starts at 8:30 AM EDT. Consensus called for an increase to 1.31 million units from 1.18 million units in May. Actual was 1.427 million units.

Netflix (NFLX) dropped $6.09 to $68.26 after releasing second quarter results in line with consensus. The company also issued third quarter guidance below consensus.

Alcoa (AA) dropped $1.45 to $45.40 after issuing third quarter guidance below consensus.

Intuitive Surgical (ISRG) dropped $46.34 to $355.99 after issuing third quarter guidance below consensus.

EquityClock’s Market Outlook for July 17^th

Consumers have been cutting back on big-ticket and everyday spending as cost of living/cost of borrowing pressures weigh. See:

https://equityclock.com/2026/07/16/stock-market-outlook-for-july-17-2026/

Technical Notes

U.S. Real Estate iShares (IYR) moved above $104.23 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable until Mid-September. See seasonality chart at www.EquityClock.com

Blackrock (BLK) an S&P 100 stock moved above $1,104.86 extending an intermediate uptrend.

Capital One Financial (COF) an S&P 100 stock moved above $209.94 setting an intermediate uptrend.

Starbucks (SBUX) an S&P 100 stock moved above $108.25 extending an intermediate uptrend.

Match Group (MTCH) a NASDAQ 100 stock moved above $40.73 breaking above a long term base pattern. Seasonal influences are favourable until Mid-September. See seasonality chart at www.EquityClock.com

Silver ETN (SLV) moved below $50.31 extending an intermediate downtrend.

Wheaton Precious Metals (WPM) a TSX 60 stock and silver stock moved below US$148.91 extending an intermediate downtrend.

Thomson Reuters (TRI.TO) a TSX 60 stock moved above Cdn$138.74 resuming an intermediate uptrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 16^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 July 16^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July16^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Here’s Why Rising Yields Matter This Earnings Season: Dave Keller

Here’s Why Rising Yields Matter This Earnings Season – YouTube

Market Call: Colin Cieszynski’s outlook on Technical Analysis (July 15, 2026)

Market Call: Colin Cieszynski’s outlook on Technical Analysis (July 15, 2026) – YouTube

Taiwan Semi Slams Chips, Crash Underway, Gold & Silver Breakdown, Top Trades! Verified Investing

Taiwan Semi Slams Chips, Crash Underway, Gold & Silver Breakdown, Top Trades! – YouTube

This Secular Bull Market Won’t Be Ended by AI Bubble, Says Brian Belski

This Secular Bull Market Won’t Be Ended by AI Bubble, Says Brian Belski – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 5.40 to 67.60. It remains Overbought.

The short term (20 days) Barometer added 11.40 to 64.60. It changed from Neutral to Overbought on a recovery above 60.00.

The long term Barometer added 3.40 to 70.40. It remained Overbought. Daily uptrend was extended.

TSX Momentum Barometers

The intermediate term Barometer slipped 0.91 to 53.64. It remained Neutral.

The short term (20 days) Barometer added 7.73 to 60.45. It changed from Neutral to Overbought on a move above 60.00. Daily uptrend was extended.

The long term Barometer slipped 0.91 to 59.55. It changed from Overbought to Neutral on a drop below 60.00.

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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