ALWAYS CONSULT YOUR INVESTMENT PROFESSIONAL BEFORE MAKING ANY INVESTMENT DECISION
January 31, 2026 | Tech Talk for Saturday January 31st 2026
Don Vialoux
The Bottom Line
Fourth quarter earnings reports released to date by S&P 500 companies have been a pleasant surprise. Analysts quickly revised S&P 500 earnings estimates higher for the fourth quarter of 2025 and for the next three quarters in 2026.
Equity price responses to fourth quarter earnings reports were less encouraging. Selling on news on Friday was notable despite the good earnings news. The S&P 500 is showing short term
technical resistance at 7,000, typical for a major equity index when reaching an important new “round number”.
The TSX Composite Index is struggling. Last week, it began to underperform the S&P 500 Index, unusual for this time of year.
Intermediate and long term momentum indicators for North American equity markets peaked in the second week in January. They remain Overbought and show early signs of rolling over. Short term caution is recommended.
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Don Vialoux January 31st, 2026
Posted In: Tech Talk
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