Tech Talk for Thursday October 2nd 2025

U.S. equity index futures were higher this morning. S&P 500 futures were up 17 points at 8:30 AM EDT.

Occidental Petroleum advanced $0.74 to $48.46 after the company sold its OxyChem division to Berkshire Hathaway for $9.7 billion. Berkshire Hathaway slipped $1.19 to $497.01 on the news

Stellantis added $0.68 to $10.32 after reporting higher than consensus quarterly results.

EquityClock's Market Outlook for October 2nd

The degradation in the labor market presents concern pertaining to Consumer Discretionary exposure in portfolios through the end of the year. See:

https://equityclock.com/2025/10/01/stock-market-outlook-for-october-2-2025/

Technical Notes

U.S. Natural Gas Fund ETN (UNG) moved above $13.46 completing a double bottom pattern.

Europe iShares (IEV) moved above $65.54 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable until early January. See seasonality chart at www.equityclock.com

Amex Biotech ETF (FBT) moved above $183.60 to an all-time high extending an intermediate uptrend. VanEck Biotech ETF (BBH) moved above $169.41 and $170.61 extending an intermediate uptrend. Leading the move was a breakout by Biogen (BIIB) above $150.28 extending an intermediate uptrend.

Base Metals iShares (PICK) moved above $44.84 extending an intermediate uptrend. Seasonal influences are favourable until January 7th. See seasonality chart at www.EquityClock.com

Pfizer (PFE) a Dow Jones Industrial Average stock moved above $$26.11 and $26.28 completing a reverse Head & Shoulders pattern. Merck (MRK) a Dow Jones Industrial Average stock move above $86.98 extending an intermediate uptrend. Eli Lilly (LLY) an S&P 100 stock moved above $823.19 setting an intermediate uptrend. Strength in PFE, MRK and LLY was a major reason why VanEck Pharmaceutical ETF (PPH) broke to a 12 month high.

Dollarama (DOL.TO) a TSX 60 stock moved below $181.80 completing a Head & Shoulders pattern.

S&P 100 and NASDAQ 100 stocks moving below support setting intermediate downtrends included Meta Platforms (META), Booking Holdings (BKNG), Atlassian (TEAM), Mercadolibre (MELI), Linde (LIN), eBay (EBAY), Gilead Sciences (GILD) and Analog Devices (ADI).

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for October 1st 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 October 1st 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 1st 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

10 Must-See Charts For October 2025: Jason Rose and David Keller

10 Must-See Charts For October 2025 - YouTube

MRKT Call – Wednesday, October 1st: Guy Adami and Dan Nathan

MRKT Call – Wednesday, October 1st - YouTube

BMO’s Brian Belski: The Fed has to bring some credibility back with the market

BMO’s Brian Belski: The Fed has to bring some credibility back with the market - YouTube

G Squared's Victoria Greene: Q4 seasonality and technicals make the case to stay long risk assets

G Squared's Victoria Greene: Q4 seasonality and technicals make the case to stay long risk assets - YouTube

Halftime Report’ team break down their Q4 investment strategies

‘Halftime Report’ team break down their Q4 investment strategies - YouTube

Treasury rates fall on weak ADP jobs report: Rick Santelli

Treasury rates fall on weak ADP jobs report - YouTube

Canada in investment crisis: Business Council of Canada

Canada in investment crisis: Business Council of Canada - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer slipped 0.60 to 58.00. It remains neutral.

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

TSX Momentum Barometers

The intermediate Barometer added 1.88 to 74.65. It remains Overbought.

The long term Barometer added 0.94 to 86.39. 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