Tech Talk for Thursday August 21st 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 recovered 4 points following release of the August Philadelphia Fed Manufacturing Index at 8:30 AM EDT. Consensus was a drop to 6.8 from 15.9 in July. Actual was a drop to -0.3.

The Canadian Dollar dropped 0.06 to US72.01cents, a three month low.

Wal-Mart dropped $2.60 to $99.97 after reporting less than consensus second quarter earnings.

Boeing gained $3.87 to $229.49 on news that China is negotiating purchase of up to 500 passenger aircraft.

Meta Platform dropped $2.72 to $745.00 on news that the company has slowed AI development.

Equity Clock – Market Outlook for August 21, 2025

The yield on the S&P 500 Index is currently the lowest since the Tech-bubble in 2000/01, but this could bode well for bonds that are yielding over 300 basis points above equity counterparts. See:

https://equityclock.com/2025/08/20/stock-market-outlook-for-august-21-2025/

Technical Notes

Healthcare SPDRs (XLV) moved above $137.76 completing a double bottom pattern

Consumer Staples SPDRs (XLP) moved above $83.33 to an all-time high extending an intermediate uptrend.

Uranium ETF (URA) moved below $37.04 and $36.20 completing a Head & Shoulders pattern.

Cameco (CCJ), largest holding in URA moved below US$70.68 and 70.68 completing a Head & Shoulders pattern. In Canadian Dollars, CCO.TO moved below Cdn$97.68 completing a double top pattern.

Target (TGT) an S&P 100 stock moved below $97.38 completing a double top pattern after offering a less than consensus third quarter outlook.

Linde (LIN) an S&P 100 stock moved above $482.86 to an all-time high extending an intermediate uptrend.

Telus (T.TO) a TSX 60 stock moved above Cdn$22.89 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for August 20th 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 20th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for August 20th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

How to Use the 4 MA for Better Timing in Trading & Investing: Joe Rabil

How to Use the 4 MA for Better Timing in Trading & Investing - YouTube

Oaktree's Marks Says Stocks Are in Early Days of a Bubble (full intervie

Oaktree's Marks Says Stocks Are in Early Days of a Bubble (full interview) - YouTube

‘Buy the dip’ exists but downside may not yet be sufficient, says Charles Schwab’s Liz Ann Sonders

‘Buy the dip’ exists but downside may not yet be sufficient, says Charles Schwab’s Liz Ann Sonders - YouTube

AI Bubble or Just the Beginning? The Rotation Risk Nobody's Talking About

Liz Thomas and Dan Nathan

AI Bubble or Just the Beginning? The Rotation Risk Nobody's Talking About - YouTube

Economic fundamentals deteriorating: Pyle

Economic fundamentals deteriorating: Pyle - YouTube

Market Call: David Burrows’ outlook on North American Large Caps

Market Call: David Burrows’ outlook on North American Large Caps - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer added 0.94 to 64.40. It remains Overbought.

The long term Barometer added 0.60 to 64.80. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped 1.42 to 62.56. It remains Overbought.

The long term Barometer dropped 1.42 to 79.62. 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.