Tech Talk for Thursday September 25th 2025

U.S. equity index futures were lower this morning. S&P 500 futures were down 27 points at 8:35 AM EDT.

S&P 500 futures slipped 2 points following release of economic news at 8:30 AM EDT. Consensus for updated U.S. annualized second quarter real GDP report was unchanged at a 3.3% rate versus a 0.5% drop in the first quarter. Actual was an increase to 3.8%. Consensus for August Durable Goods Orders was a 0.5% drop versus a 2.8% drop in July. Actual was a 2.9% gain.

KB Homes dropped $0.66 to $61.72 despite reporting higher than consensus third quarter revenues. The company also offered cautious guidance for its fiscal fourth quarter.

Costco added $0.48 to $945.27 after reporting higher than consensus fiscal fourth quarter results.

Air Canada is expected to open lower after the company issued a third quarter profit warning.

CarMax dropped $6.55 to $50.60 after reporting less than consensus fiscal second quarter revenues.

EquityClock's Market Outlook for September 25th

The dynamics of supply and demand are conducive to support the price of Oil through its period of weakness heading through the fall. See:

https://equityclock.com/2025/09/24/stock-market-outlook-for-september-25-2025/

Technical Notes

Base Metals iShares (XBM.TO) moved above $24.24 to an all-time high extending an intermediate uptrend. The stock responded to the temporary shutdown of Freeport McMoran's Grasmere operations due to a fatal mine accident.

Energy SPDRs (XLE) moved above $89.91 extending an intermediate uptrend.

Raytheon Technologies (RTX) an S&P 100 stock moved above $161.26 to an all-time high extending an intermediate uptrend.

Lockheed Martin (LMT) an S&P 100 stock moved above $487.26 setting an intermediate uptrend.

Costar (CSGP) a NASDAQ 100 stock moved below $84.57 completing a double top pattern.

Match (MTCH) a NASDAQ 100 stock moved below $36.28 completing a double top pattern.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 24th 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 24th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 24th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Market's trajectory remains higher despite potential bumps in the road, says Anastasia Amoroso

https://www.youtube.com/watch?v=4yqQgTzpHUE

Chart Check: S&P 500, Gold & Bitcoin with Carter Worth

Chart Check: S&P 500, Gold & Bitcoin with Carter Worth - YouTube

Canadian Association for Technical Analysis Presentation

Next presentation is this evening at 8:00 PM EDT. Presenter is Don Vialoux. Topic is "Timing the market using fundamental, seasonal and technical analysis". Everyone is welcome. Not a member? See https://www.canadianata.ca/

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 4.00 to 54.80. It remains Neutral.

The long term Barometer was unchanged at 63.80. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped 0.95 to 70.00. It remains Overbought.

The long term Barometer added 1.43 to 85.24. 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