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January 3, 2026 | Tech Talk for Saturday January 3rd 2026

Don Vialoux

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Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at www.timingthemarket.ca. Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

The proverbial “Santa Claus” rally for the S&P 500 Index from December 14th to January 6th is “holding in” just barely. The S&P is up 0.45% since the close on Friday December 12th.

Several technical analysts/strategists (e.g. Tom Bowley, Craig Johnson, Tom Lee, Guy Adami, Dan Nathan, Carter Worth, David Keller, Jeremy Seigel) have issued cautious comments for U.S. equity markets for the short term. Their concerns include:

  • Slowing fourth quarter earnings gains relative to third quarter results
  • Possible shutdown of Congress before the end of January
  • Struggling chart action by major U.S. equity indices, sectors and ETFs (Notably theMagnificent 7 ETF: MAGS) since the end of October.

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January 3rd, 2026

Posted In: Tech Talk

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