Tech Talk for Friday August 29th 2025

U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points at 8:35 AM EDT,

S&P 500 futures improved 5 points following release of economic news at 8:30 AM EDT. July PCE Price Index was expected to increase 0.3% versus a 0.3% increase in June. Actual was a 0.2% increase. On a year-over-year basis, July PCE Price Index was expected to increase 2.6% versus 2.6% in June. Actual was a 2.6% increase. Core July PCE Price Index also was expected to increase 0.3% versus a 0.3% gain in June. Actual was On a year-over-year basis, Core July PCE Price Index was expected to increase 2.9% versus 2.8% in June. Actual was a 2.9% increase. July U.S. Personal Income was expected to increase 0.4% versus a 0.3% gain in June. Actual was a 0.4% increase. July U.S. Personal Spending was expected to increase 0.5% versus a 0.3% gain in June. Actual was a 0.5% increase.

Canada's July GDP released at 8:30 AM EDT on Friday was expected to increase 0.1% versus a 0.1% drop in June. Actual was a 0.1% increase.

Caterpillar dropped $12.72 to $422.19 after the company warned about impact of tariffs that are about to be imposed.

Dell Computer dropped $7.95 to $126.12 after releasing a mixed third quarter outlook.

Gap Stores dropped $1.36 to $20.32 after reporting less than consensus second quarter sales. The company also warned about impact of tariffs.

EquityClock's Market Outlook for August 29th

Pick your spots in the industrial economy accordingly as the trends in activity become bifurcated heading through the back half of the year. See:

https://equityclock.com/2025/08/27/stock-market-outlook-for-august-29-2025/

Technical Notes

Energy iShares (XLE) moved above $89.44 setting an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until the first week in November. See seasonality chart at www.equityclock.com. Hurricane season in the Gulf of Mexico frequently has an influence on the sector at this time of year. Latest weather forecast suggests that hurricane season likely is delayed this year until at least the second half of September. See https://www.nhc.noaa.gov/

Brazil iShares (EWZ) moved above $29.35 extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until mid-October. See seasonality chart at www.equityclock.com

Trip.com (TCOM) a NASDAQ 100 stock moved above $67.44 and $73.79 extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until the first week in October and occasionally until the first week in November. See seasonality chart at www.equityclock.com

Cintas (CTAS) a NASDAQ 100 stock moved below $209.07 completing a double top pattern.

Southern Companies (SO) an S&P 100 stock moved below $92.18 completing a double top pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for August 28th 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 28th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 28th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Unlock Explosive Breakouts with NR7 Bars! Joe Rabil

Unlock Explosive Breakouts with NR7 Bars! - YouTube

There’s a dislocation between sentiment and fundamentals, says Morgan Stanley’s Andrew Slimmon

There’s a dislocation between sentiment and fundamentals, says Morgan Stanley’s Andrew Slimmon - YouTube

Market Call: Keith Richards’ outlook on Technical Analysis

Market Call: Keith Richards’ outlook on Technical Analysis - YouTube

What Happens When Rate Cuts Ramp Up? Guy Adami, Dan Nathan and Liz Thomas

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

Is Consumer Discretionary About to Take Over the Market? Julius deKampaneur

https://www.youtube.com/watch?v=AEpbI1Mao2o

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 1.20 to 65.60. It remains Overbought.

The long term Barometer slipped 0.60 to 67.00. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 1.42 to 68.72. It remains Overbought.

The long term Barometer slipped 0.47 to 81.99. 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.