Pre-opening Comments for Wednesday July 8^th

U.S. equity index futures were lower in pre-opening trade. S&P 500 futures were down 42 points at 8:30 AM EDT.

Just before the close yesterday WTI Crude Oil ($WTIC) spiked $1.82 to $72.20 per barrel after the U.S. revoked Iran’s licence to allow sale of Iranian Oil. This morning, WTI Crude oil is up another $2.06 to $74.26 per barrel.

Gold bullion (GLD) dropped $94.60 to $4,062.00 per ounce.

Airline stocks and their related ETF JETS responded to increasing Middle East tensions.

JETS dropped $0.65 to $31.66.

Chinese equity prices moved higher led by Alibaba (BABA) up $11.70 to $107.50.

EquityClock’s Market Outlook for July 8^th

The price of Oil is showing a strongly positive reaction to the end of February upside open gap, suggesting a shift of the recent short-term pullback. See:

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

Technical Notes

Pharmaceutical ETF (PPH) moved above $111.03 to an all-time high extending an intermediate uptrend.

Uranium ETF (URA) moved below US$42.23 extending an intermediate downtrend. Triggered by a break below intermediate support by Cameco (CCJ) a TSX 60 stock on a move below US$92.83!

Check Point (CHKP) a NASDAQ 100 stock moved above $141.31 completing a double bottom pattern.

Southern Companies (SO) an S&P 100 stock moved above $98.76 to an all-time high extending an intermediate uptrend.

Take Two (TTWO) a NASDAQ 100 stock moved above $264.79 to an all-time high extending an intermediate uptrend.

Match (MTCH) a NASDAQ 100 stock moved above $38.94 extending an intermediate uptrend.

Shopify (SHOP.TO) a TSX 60 stock moved above Cdn$172.46 setting an intermediate uptrend.

Thomson Reuters (TRI.TO) a TSX 60 stock moved above Cdn$130.24 completing a double bottom pattern.

Trader’s Corner

Equity Indices and Related ETFs

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

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 7^th 2026

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

The AI Chip Glut Has Begun: Semi’s Will Fall 75: Verified Investing

The AI Chip Glut Has Begun: Semi’s Will Fall 75% – YouTube

Next Leg of the Bull Market? Mike Wilson: Morgan Stanley

Next Leg of the Bull Market? – YouTube

Top 10 Stock Charts for July 2026: What’s Working Now? David Keller

Top 10 Stock Charts for July 2026: What’s Working Now?

Reading the Tea Leaves: Why Short-Term Rates May Be Headed Higher: Martin Pring

Reading the Tea Leaves: Why Short-Term Rates May Be Headed Higher (stockcharts.com)

S&P Momentum Barometers

The intermediate term Barometer slipped 1.00 to 67.40. It remained Overbought.

The short term (20 days) Barometer added 0.60 to 67.20. It remained Overbought

The long term Barometer added 0.60 to 67.80. It remained Overbought. Daily uptrend was extended.

TSX Momentum Barometers

The intermediate term Barometer added 1.36 to 55.00. It remained Neutral.

The short term (20 days) Barometer dropped 2.27 to 55.00. It remained Neutral.

The long term Barometer dropped 3.84 to 62.27. 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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