Tech Talk for Wednesday December 3rd 2025

Pre-opening Comments for Wednesday December 3rd

U.S. equity index futures are expected to open higher this morning. S&P 500 futures were up 18 points at 8:30 AM EST.

Royal Bank is expected to open higher after reporting higher than consensus fiscal fourth quarter results.

American Eagle Outfitters (AEO) added $3.17 to $24.00 after reporting higher than consensus third quarter results. The company also offered positive fourth quarter guidance.

CrowdStrike (CRWD) slipped $1.55 to $515.00 despite reporting higher than consensus third quarter results.

Marvel advanced $14.11 to $107.00 after offering positive fourth quarter guidance.

EquityClock's Market Outlook for December 3rd

Potential alleviation of a significant headwind against stocks as cryptocurrencies attempt double-bottom lows. See:

https://equityclock.com/2025/12/02/stock-market-outlook-for-december-3-2025/

Technical Notes

Brazil iShares (EWZ) moved above $33.62 to a ten year high extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until February 18th. See seasonality chart at www.EquityClock.com

MongoDB (MDB) a NASDAQ 100 stock moved above $385.44 extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until mid-February. See seasonality chart at www.EquityClock.com

Intel (INTC) an S&P 100 stock moved above $42.48 extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until mid-January. See seasonality chart at www.EquityClock.com

Exelon (EXC) a NASDAQ 100 stock moved below $44.90 completing a double top pattern. Responded to an increase in long term U.S. interest rates!

Procter & Gamble (PG) a Dow Jones Industrial Average stock moved below $144.09 setting an intermediate downtrend.

Linde (LIN) an S&P 100 stock moved below $406.06 extending an intermediate downtrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 2nd 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 December 2nd 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 2nd 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Calling Market Tops… Rationalizing Risk | Trading Places Live! December 2, 2025: Tom Bowley

https://www.youtube.com/watch?v=bJoNaX8DcbQ

David Keller’s December Playbook: 10 Charts You Should See

David Keller’s December Playbook: 10 Charts You Should See - YouTube

Is Japan About To Cause A Global Financial Crisis? Liz Thomas

Is Japan About To Cause A Global Financial Crisis? - YouTube

Berman’s Call for Monday, Dec. 1, 2025

Berman’s Call for Monday, Dec. 1, 2025 - YouTube

Tom Lee: 6 Reasons for Stocks to Rally in December

https://www.youtube.com/watch?v=A6SJTWNImkI

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 2.00 to 51.40. It remains Neutral

The long term Barometer dropped 1.80 to 58.60. It changed from Overbought to Neutral on a drop below 60.00.

TSX Momentum Barometers

The intermediate term Barometer added 0.95 to 68.72. It remains Overbought.

The long term Barometer slipped 0.47 to 81.04. 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