Pre-opening Comments for Wednesday February 4^th

U.S. equity index futures were higher this morning. S&P 500 futures up 10 points at 8:30 AM EST

Chipotle Mexican Grill (CMG) dropped $2.80 to $36.37 despite reporting higher than consensus fourth quarter results. The company also issued first quarter guidance below consensus.

AMD (AMD) dropped $15.14 to $226.90 despite reporting higher than consensus fourth quarter results and despite issuing favourable first quarter guidance.

Super Micro Computer (SMCI) added $$1.40 to $31.07 after reporting higher than consensus fiscal second quarter results.

Mondelez dropped $2.67 to $56.80 despite reporting higher than consensus fourth quarter results. The company also issued guidance below consensus.

EquityClock’s Stock Market Outlook for February 4^th 2026

Staying engaged in stocks, but increasingly risk-aware heading into normal February volatility. See:

https://equityclock.com/2026/02/03/stock-market-outlook-for-february-4-2026/

Technical Notes

McDonalds (MCD) a Dow Jones Industrial Average stock moved above $321.79 to an all-time high extending an intermediate uptrend.

CSX (CSX) a NASDAQ 100 stock moved above $38.95 to an all-time high extending an intermediate uptrend.

S&P 100 and NASDAQ 100 stocks moving below support extending intermediate downtrends included Netflix (NFLX) on a move below $87.11, IBM on a move below $288.07, Cognizant Technology Solutions (CTSH) on a move below $80.52, Co-star (CSGP) on a move below $57.01, Verisk Analytics (VRSK) on a move below $196.59, Palo Alto (PANM) on a move below $165.21, Marvell Technology on a move below $73.57, Salesforce.com (CRM) on a move below $209.73, Roper Technologies (ROP) on a move below $348.79

Canadian Pacific Kansas City (CP.TO) a TSX 60 stock moved above Cdn$104.58 setting an intermediate uptrend.

George Weston (WN.TO) a TSX 60 stock moved above Cdn$98.17 to an all-time high extending an intermediate uptrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for February 3^rd 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 February 3^rd 2026

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for February 3^rd 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Software Stocks Bleed & Bring The Market With Them: Guy Adami and Dan Nathan

Software Stocks Bleed & Bring The Market With Them – YouTube

Canada’s economy is ‘on life support’: Rosenberg

Canada’s economy is ‘on life support’: Rosenberg – YouTube

Market Looks Strong, But Only A Few Industries Carry It | Trading Places Live! February 3, 2026: Tom Bowley

Market Looks Strong, But Only A Few Industries Carry It | Trading Places Live! February 3, 2026 – YouTube

DEATH’S DOOR: Why the Stock Market is Finally Collapsing: Gareth Soloway

DEATH’S DOOR: Why the Stock Market is Finally Collapsing – YouTube

S&P 500 Momentum Barometers

Intermediate term Barometer dropped 3.00 to 63.20. It remains Overbought

The long term Barometer dropped 0.80 to 65.00. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 1.83 to 70.64. It remains Overbought.

The long term Barometer added 0.92 to 81.65. 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.

More from the network: Stock Market Outlook for February 4, 2026 Stock Market Outlook for February 3, 2026 Stock Market Outlook for February 2, 2026 Stock Market Outlook for January 30, 2026 Stock Market Outlook for January 29, 2026