Tech Talk for Friday November 21st 2025

U.S. equity index futures were higher this morning. S&P 500 futures were up 28 points at 8:35 AM EST.

The Canadian Dollar was unchanged at US 70.98 cents following release of September Canadian Retail Sales at 8:30 AM EST. Consensus was a 0.7% increase versus a 1.0% increase in August. Actual was a 0.7% increase.

Intuit advanced $24.69 to $662.13 after reporting higher than consensus fiscal first quarter results.

Gap added 41.10 to $24.16 after reporting higher than consensus third quarter revenues and earnings. The company also raised guidance.

Ross Stores gained $4.00 to $164.50 after reporting higher than consensus third quarter results.

EquityClock's Market Outlook for November 21st

Seasonality about to turn supportive for stocks: Thanksgiving week historically delivers gains averaging 0.67% for the S&P 500 Index. See:

https://equityclock.com/2025/11/20/stock-market-outlook-for-november-21-2025/

Technical Notes

S&P 500 Index moved below 6,550.78 and 6,631.44 completing a short term Head & Shoulders pattern.

Dow Jones Transportation Average and its related iShares (IYT) moved below $69.32 completing a double top pattern.

U.S. Steel ETF (SLX) moved below $76.24 completing a double top pattern.

Global Base Metals iShares (XBM.TO) moved below Cdn$24.73 and Global X Copper Miners ETF (COPX) moved below $57.41 completing double top patterns.

S&P 100 and NASDAQ 100 stocks breaking below support setting an intermediate downtrend included Ford (F) on move below $12.60, Atlassian (TEAM) on a move below $144.32, Target on a move below $84.30, Honeywell on a move below $187.88

Platinum ETN (PPLT) moved below $138.07 and $137.73 completing a double top pattern.

Cenovus (CVE.TO) a TSX 60 stock moved above Cdn$25.97 extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

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

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 20th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Stocks Whipsaw After Nvidia Earnings: Guy Adami, Dan Nathan and Liz Thomas

https://www.youtube.com/watch?v=8nD4iXFgDn8

Big Move in Nvidia: Can This Save the Market Rally? | CHART THIS 11/19/25

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

Did NVDA Earnings Cancel The Correction? Here’s The Institutional Technical Analysis Verdict

https://www.youtube.com/watch?v=j_oncYKp5K4

Bridgewater founder Ray Dalio: We are definitely in a bubble, but that doesn’t mean you should sell

https://www.youtube.com/watch?v=hwkHkUpWZP4

A Rough Week for Stocks But This Sector Just Hit a New High! Tom Bowley

A Rough Week for Stocks But This Sector Just Hit a New High! - YouTube

FOMC’s "Tricky" December Decision & Navigating "Whipsaw" Markets: Liz Ann Sonders

FOMC’s "Tricky" December Decision & Navigating "Whipsaw" Markets - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped another 4.60 to 31.80. It remains Oversold. Daily downtrend was extended.

The long term Barometer dropped 3.00 to 50.40. It remains Neutral. Daily downtrend was established.

Short term (20 day) Barometer dropped 2.80 to 28.00. It remains Oversold. Daily downtrend was extended.

TSX Momentum Barometers

The intermediate term Barometer plunged 8.73 to 49.76. It remains Neutral. Daily downtrend was extended.

The long term Barometer slipped 1.06 to 74.88. It remains Overbought.

Short term (20 day) Barometer plunged 13.00 to 43.60

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