Tech Talk for Friday August 22nd 2025

U.S. equity index futures were higher this morning. S&P 500 futures were up 17 points at 8:30 AM EDT.

Federal Reserve Chairman Powell is scheduled to speak at 10:00 AM EDT at the Jackson Hole Symposium.

Ross Stores added $2.98 to $148.60 after reporting higher than consensus second quarter results. The company also offered positive guidance. Seasonal influences are favourable until January 10th. See seasonality chart at www.EquityClock.com

Workday dropped $8.58 to $219.00 after offering third quarter guidance below consensus.

Zoom Media added $4.16 to $77.33 after reporting higher than consensus second quarter revenues and earnings.

Intuit dropped $38.77 to $658.99 after offering fiscal quarter guidance below consensus.

EquityClock's Market Outlook for August 22nd

Data on existing home sales suggests that the wealth effect that elevated consumer activity for the past few years has been turned off. See:

https://equityclock.com/2025/08/21/stock-market-outlook-for-august-22-2025/

Technical Notes

S&P 500 Index, NASDAQ 100 Index and their related ETFs (SPY and QQQ) moved below their 20 day moving average. All are trading below late July prices.

CVS Health (CVS) an S&P 100 stock moved above $71.73 extending an intermediate uptrend.

Pfizer (PFE) a Dow Jones Industrial Average stock moved above $25.61 extending an intermediate uptrend.

Analog Devices (ADI) a NASDAQ 100 stock moved above $247.73 to an all-time high extending an intermediate uptrend.

PDD Holdings (PDD) a NASDAQ 100 stock moved above $121.49 and $122.99 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for August 21st 2025

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 August 21st 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 21st 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

The Market’s AI Spending Problem: Guy Adami, Dan Nathan and Liz Thomas

https://www.youtube.com/watch?v=FmIfO_wjYJI

Is The Growth Stock Bubble Bursting? Tom Bowley

https://www.youtube.com/watch?v=ZRVJQUALjaw

New Stocks Breaking Out While Big Tech Falters! David Keller

New Stocks Breaking Out While Big Tech Falters! - YouTube

A market pullback of 5-10% is natural and healthy, says Aureus’ Kari Firestone

A market pullback of 5-10% is natural and healthy, says Aureus’ Kari Firestone - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 2.20 to 62.20. It remains Overbought.

The long term Barometer dropped 0.60 to 64.20. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 4.27 to 66.82. It remains Overbought.

The long term Barometer added 1.90 to 81.52. It remains 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.