Technical Notes

Yield on 10 year U.S. Treasuries ($TNX) moved above 4.69% to an 18 month high extending an intermediate uptrend.

Consumer Discretionary SPDRs (XLY) moved below $113.13 extending an intermediate downtrend.

South Africa iShares (EZA) moved below $61.53 and $60.87 setting an intermediate downtrend.

BMO Equal Weight Energy ETF (ZEO.TO) moved above Cdn$112.14 to an all-time high extending an intermediate uptrend.

S&P/TSE Technology iShares (XIT.TO) moved below Cdn$68.93 setting an intermediate downtrend.

Gasoline ETN (UGA) moved above $125.47 to an all-time high extending an intermediate uptrend.

S&P 100 stocks moving below support extending an intermediate downtrend included Wal-Mart (WMT) on a move below $107.25, Lockheed Martin (LMT) on a move below $487.15, Alphabet (GOOG) on a move below $333.69 and (GOOGL) on a move below $330.20, Tesla (TSLA) on a move below $368.60 and Amazon (AMZN) on a move below $225.55.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for July 23^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 July 23^rd 2026

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for July 23^rd 2026

Green: Increase from previous day

Red: Decrease from previous day

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S&P 500 Momentum Barometers

The intermediate term Barometer dropped 3.60 to 60.00. It remained Overbought.

The short term (20 days) Barometer dropped another 3.00 to 44.00. It remained Neutral. Daily downtrend was extended.

The long term Barometer dropped 0.80 to 65.40. It remained Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped 8.64 to 53.64. It returned to Neutral from Overbought on a move below 60.00.

The short term (20 days) Barometer dropped 16.82 to 47.27. It returned to Neutral from Overbought on a move 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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