Tech Talk for Friday September 26th 2025

U.S. equity index futures were higher this morning. S&P 500 futures were 23 ponts at 8:35 AM EDT

S&P 500 futures added 13 points following release of economic news at 8:30 AM EDT. Consensus for August PCE Price Index was a 0.3% increase versus a 0.2% increase in July. Actual was a 0.3% increase. On a year-over-year basis, the Index increased 2.7% versus 2.6% in July. Consensus for August Core PCE Price Index was a 0.2% increase versus a 0.3% gain in July. Actual was a 0.2% increase. Consensus for August Personal Income was a 0.3% increase versus a 0.4% increase in July. Actual was a 0.4% increase. Consensus for August Personal Spending was a 0.5% increase versus a 0.5% increase in July. Actual was a 0.6% increase.

The Canadian Dollar was unchanged at U.S. 71.74 cents following release of Canada's August GDP. Consensus was a 0.1% increase versus a 0.1% drop in July. Actual was a 0.2% increase

Costco dropped $5.91 to $937.69 after reporting fiscal fourth quarter same store sales less than consensus.

Eli Lilly added $8.41 to $723.00 and Merck gained $1.10 to $78.70 after President Trump announced a 100% tariffs on drugs imported into the U.S. unless the producing company is building a manufacturing plant in the U.S.

EquityClock's Market Outlook for September 26th

Seasonally, the US Dollar Index remains in a position of a headwind against stocks through the month of October. See:

https://equityclock.com/2025/09/25/stock-market-outlook-for-september-26-2025/

Technical Notes

NASDAQ 100 stocks breaking support setting intermediate downtrends included Align (ALGN) on a move below $127.70, CDW (CDW) on a move below $159.09, Illumina (ILMN) on a move below $92.19, Roper Technologies (ROP) on a move below $498.03, Regeneron (REGN) on a move below $552.81 and PACCAR (PCAR) on a move below $95.39.

U.S. Medical Devices iShares (IHI) moved below $59.03 completing a double top pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 25th 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 25th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 25th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Are the Mag 7 Rolling Over? Key Signals from Apple to Amazon: Tom Bowley

Are the Mag 7 Rolling Over? Key Signals from Apple to Amazon - YouTube

S&P 500: Now vs The Dot Com Bubble |: Dan Nathan and Liz Thomas

S&P 500: Now vs The Dot Com Bubble | Stock Market Live Stream - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 4.40 to 50.20. Daily trend is down. Rating remains Neutral.

The long term Barometer dropped 2.00 to 61.80. It remains Overbought. Daily trend is down.

TSX Momentum Barometers

The intermediate term Barometer slipped 0.52 to 69.48. It remains Overbought.

The long term Barometer added 0.68 to a five year high at 85.92. It remains Overbought. Daily uptrend resumed.

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