Tech Talk for Wednesday November 26th 2025

U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points at 8:35 AM EDT.

U.S. equity indices were unchanged following release of September Durable Goods Orders at 8:30 AM EST. Consensus was a 0.5% increase versus 2.9% in August. Actual was a 0.5% increase.

Urban Outfitters (URBN) advanced $10.10 to $78.41 after reporting higher than consensus third quarter revenues and earnings.

NetApp (NTAP) added $5.15 to $116.63 after reporting higher than consensus fiscal second quarter revenues and earnings. The company also raised guidance.

Zscaler (ZS) dropped $22.41 to $267.32 after reporting a fiscal first quarter loss.

Dell Technologies (DELL) added $4.81 to $130.73 after third quarter adjusted revenues and earnings exceeded consensus. The company also offered positive fourth quarter guidance.

EquityClock's Market Outlook for November26th

Seasonal peak in the Dollar lining up as a near-term tailwind for stocks, but warning signs for 2026 are mounting. See:

https://equityclock.com/2025/11/25/stock-market-outlook-for-november-26-2025/

Technical Notes

Healthcare SPDRs (XLV) moved above $156.26 to an all-time high extending an intermediate uptrends. Seasonal influences are favourable on a real and relative basis until January 6. See seasonality chart at www.EquityClock.com

Apple (AAPL) an S&P 100 stock moved above $277.05 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until January 6th. See Seasonality chart at www.EquityClock.com

General Electric Health Care (GEHC) a NASDAQ 100 stock moved above $94.66 to an all-time high extending an intermediate uptrend.

Applied Materials (AMAT) a NASDAQ 100 stock moved above $242.03 extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until March 1st. See seasonality chart at www.EquityClock.com

Broadcom (AVGO) an S&P 100 stock moved above $386.48 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until April 3rd. See seasonality chart at www.EquityClock.com

Align (ALGN) a NASDAQ 100 stock moved above$150.78 completing a reverse Head & Shoulders pattern.

Trader's Corner

Equity Indices and Related ETFs

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

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for November 25th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Magnificent 7 Breakdown: Leaders, Laggards & the Charts to Watch Now! David Keller

Magnificent 7 Breakdown: Leaders, Laggards & the Charts to Watch Now! - YouTube

The Numbers Are Not What They Seem… Guy Adami and Liz Thomas

The Numbers Are Not What They Seem… - YouTube

The Fed’s December dilemma: Here’s what to know: Steve Leisman

The Fed’s December dilemma: Here’s what to know - YouTube

Let The Seasonal Rally Begin! Guy Adami and Dan Nathan

Let The Seasonal Rally Begin! - YouTube

Next year will favor U.S. equities as earnings accelerate, says Wells Fargo’s Paul Christopher

Next year will favor U.S. equities as earnings accelerate, says Wells Fargo’s Paul Christopher - YouTube

Rising unemployment rate suggests the Fed will cut rates in December, says iCapital’s Sonali Basak

Rising unemployment rate suggests the Fed will cut rates in December, says iCapital’s Sonali Basak - YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer advanced 8.20 to 51.60. It remains Neutral.

The long term Barometer added 4.00 to 60.00. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer added 4.27 to 66.35. It remains Overbought.

The long term Barometer added 3.79 to 79.62. 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