The Gemini team discusses Bill Cara's Worldwide Equity Pulse Report, January 5, 2025

The January 5, 2026, INSTAT report provides a technical and quantitative analysis of 893 financial instruments across the United States and Canada, plus a further 326 instruments in Asia and Europe today. It reveals a strongly bullish outlook for all equity markets, but especially for Asia and Europe. In the North American markets, Canadian exchanges are currently outperforming their American counterparts. The data highlights significant momentum in cyclical sectors, specifically emphasizing the strength of uranium, gold, semiconductors, and AI-driven technology. While broad indexes like the S&P 500 and TSX Composite maintain solid upward trends, the report identifies a barbell market structure where thematic leaders thrive while legacy media and consumer segments remain bearish. Ultimately, the analysis advises investors to pyramid gains in winning sectors like financials and resources while remaining cautious of potential Federal Reserve policy shifts and overextended valuations.