Tech Talk for Wednesday September 17th 2025

U.S. equity index futures were mixed this morning. S&P 500 futures were down 2 points at 8:30 AM EDT.

U.S. equity market focus today is on release of the FOMC decision on U.S. interest rates at 2:00 PM EDT. Consensus calls for a 0.25% reduction to 4.25% in the Fed Fund Rate. Press conference call is scheduled for 2:30 AM EDT.

Canadian equity market focus today is on release of the Bank of Canada's decision on interest rates at 9:45 AM EDT. Consensus calls for a 0.25% reduction in the Bank Rate offered major Canadian banks. Press conference call is scheduled for 10:30 AM EDT.

Nvidia dropped $2.25 to $172.59 after China blocked access to Nvidia's computer chips.

Microsoft gained $1.81 to $510.85 after the company announced plans to spend $30 billion in the United Kingdom to expand its operations.

General Mills slipped $0.42 to $48.14 despite reporting higher than consensus fiscal first quarter results.

EquityClock's Market Outlook for September 17th

The backdrop to the consumer economy is not all that enticing. See:

https://equityclock.com/2025/09/16/stock-market-outlook-for-september-17-2025/

Technical Notes

Qualcomm (QCOM) an S&P 100 stock moved above $163.03 extending an intermediate uptrend.

Trip.com (TCOM) a NASDAQ 100 stock moved above $76.81 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until mid-November. See seasonality chart at www.EquityClock.com

Loblaw Companies (L-TO) a TSX 60 stock below Cdn$53.83 setting an intermediate downtrend.

Constellation Software (CSU.TO) a TSX 60 stock moved below Cdn$4,245.18 and Cdn $4,202.14 extending an intermediate downtrend. Note: the stock closed higher.

S&P/TSE Energy iShares (XEG.TO) moved above Cdn$18.29 and $18.35 resuming an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 16th 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 16th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 16th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Decode Market Momentum with Moving Average Breadth: Dave Keller

https://www.youtube.com/watch?v=INF6jADMrGM

Value Stocks are Back: 40-Year Value Investor Kim Shannon Explains Why: Amber Kanwar

https://www.youtube.com/watch?v=8ii1MxMw_Hc

How This Week's Fed Meeting Could Move the Markets | Trading Places Live! September 16, 2025: Tom Bowley

https://www.youtube.com/watch?v=7eSwEQuDvtQ

$22 Trillion and Counting: How US Tech Giants Just Beat China's GDP: Guy Adomi and Liz Thomas

https://www.youtube.com/watch?v=UuKs9YmsTDM

Beware Quad Witching Friday: Guy Adami and Danny Moses

Beware Quad Witching Friday - YouTube

CHART THIS with David Keller, CMT Tuesday 9/16/25

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

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 4.00 to 52.80. It remains Neutral. Daily downtrend was extended.

The long term Barometer slipped 0.40 to 62.80. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer slipped 0.85 to 73.33. It remains Overbought.

The long term Barometer was unchanged at 84.29. 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.