Tech Talk for Wednesday September 3rd 2025

U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points at 8:30 AM EDT.

Early strength in U.S. equity prices was triggered by news on Alphabet's Anti-trust case released after the close. Alphabet jumped $13.00 to $224.99 after a court ruled that the company is required to share some data, but is not required to distribute or to sell its Chrome browser. Apple also responded to the news, up $7.08 to $236.82.

Couche Tard is expected to open lower after reporting lower fiscal first quarter revenues and earnings.

Zscaler added $4.22 to $278.79 after reporting higher than consensus fiscal fourth quarter earnings. The company also offered positive fiscal first quarter guidance.

EquityClock's Market Outlook for September 3rd

Energy stocks perking up as energy commodities show bottoming setups. See:

https://equityclock.com/2025/09/02/stock-market-outlook-for-september-3-2025/

Technical Notes

Semiconductor stocks and related ETFs led weakness in U.S. equities yesterday. Notable stocks breaking short term support included NVidia, Advanced Micro Devices and KLA Corp.

Trader's Corner

Equity Indices and Related ETFs

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

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 2nd 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

This bull run still has further to go, says Wharton’s Jeremy Siegel

This bull run still has further to go, says Wharton’s Jeremy Siegel - YouTube

A Volatile Start For September: SPX, Gold & Yield Key Levels: Guy Adami, Dan Nathan and Carter Worth

A Volatile Start For September: SPX, Gold & Yield Key Levels - YouTube

Upcoming jobs report will be most watched in a long time, says G Squared’s Victoria Greene

Upcoming jobs report will be most watched in a long time, says G Squared’s Victoria Greene - YouTube

Buyers Alleviate SPX Pressure, Keep Key Support in Mind: Schwab Network

Buyers Alleviate SPX Pressure, Keep Key Support in Mind - YouTube

Investors should focus more on quality growth: Belski

Investors should focus more on quality growth: Belski - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 6.20 to 59.00. It changed from Overbought to Neutral on a move below 60.00.

The long term Barometer dropped 1.80 to 65.40. It remains Overbought.

Short term (20 days) Barometer plunged 13.40 to 56.00.

TSX Momentum Barometers

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

The long term Barometer dropped 1.42 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.