Pre-opening Comments for Thursday July 30^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 45 points at 8:35 AM EDT.

Index futures slipped 1 point following release of U.S. economic news at 8:30 AM EDT. June Personal Income was expected to increase 0.4% versus a 0.7% increase in May. Actual was up 0.2%. June Consumer Spending was expected to increase 0.3% versus a 0.3% increase in May. Actual was up 0.3%. June PCE Core Price Index was expected to increase 0.2% versus a 0.3% increase in May. Actual was up 0.1%. On a year-over-year basis, the June Index was expected to increase 3.3% versus a 3.4% increase in May. Actual was up 3.3%.

Meta dropped $55.73 to $529.88 after announcing higher than expected legal charges in its second quarter. Also, the company offered third quarter guidance that was less than consensus.

Microsoft added $7.47 to $398.01 after reporting higher than consensus fiscal fourth quarter results.

Lam Research (LAM) added $12.75 to $265.10 after reporting higher than consensus second quarter results.

Starbucks (SBUX) added $5.86 to$110.00 after reporting higher than consensus fiscal third quarter results.

EquityClock’s Market Outlook for Thursday

The trajectories of yields and the US dollar becoming favourable for Gold. See:

https://equityclock.com/2026/07/29/stock-market-outlook-for-july-30-2026/

Responses to FOMC Decision released at 2:00 PM EDT yesterday

The FOMC maintained its Fed Fund Rate at 3.50%-3.75% in a 9 to 3 decision. Responses were as follow:

S&P 500 Index initially moved higher but closed sharply lower

Price on 20+ year Treasury iShares moved sharply lower. Yield moved sharply higher.

The U.S. Dollar Index moved sharply lower

Gold initial moved higher, but closed mixed

Technical Notes

Mondelez (MDLZ) an S&P 100 stock moved above $63.82 extending an intermediate uptrend.

GE Healthcare (GEHC) an S&P 100 stock moved above $66.40 completing a double bottom pattern.

DocuSign (DOCU) a NASDAQ 100 stock moved above $57.29 completing a double bottom pattern.

Eurozone iShares (EZU) moved below $67.33 completing a double top pattern.

Israel iShares (EIS) moved below $117.17 extending an intermediate downtrend.

Goldman Sachs (GS) an S&P 100 stock moved below $1003.00 and $1000.04 setting an intermediate downtrend.

Morgan Stanley (MS) an S&P 100 stock moved below $206.72 and $205.83 setting an intermediate downtrend.

Metro (MRU.TO) a TSX 60 stock moved above Cdn$95.70 completing a double bottom pattern.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 29^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 29^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 29^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

There’s still risk to the downside for the Nasdaq-100, says Fairlead’s Katie Stockton

There’s still risk to the downside for the Nasdaq-100, says Fairlead’s Katie Stockton – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 5.60 to 66.40. It remained Overbought

The short term (20 days) Barometer dropped 5.40 to 63.60. It remained Overbought.

The long term Barometer dropped 2.00 to 70.00. It remained Overbought.

TSX Momentum Barometers

The intermediate term Barometer was unchanged at 57.73. It remained Neutral.

The short term (20 days) Barometer dropped 9.09 to 50.45. It remained Neutral.

The long term Barometer dropped 1.36 to 63.73. It remained 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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