Pre-opening Comments for Friday September 19^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points at 8:30AM EDT.

Today is Quadruple Witching Day, the last trade day for September listed options, futures and futures options.

FedEx advanced $16.76 to $243.26 after reporting higher than consensus fiscal first quarter results

Lennar dropped $4.53 to $128.34 after issuing a warning on fiscal fourth quarter revenues.

Tesla added $2.38 to $419.23 after Baird upgraded the stock to Buy. Target Price was raised to $548.

EquityClock’s Market Outlook for September 19^th

There are key themes enduring in the market/economy that demand focus in portfolios and the Artificial Intelligence (AI) build-out is one of them. See:

https://equityclock.com/2025/09/18/stock-market-outlook-for-september-19-2025/

Technical Notes

Russell 2000 iShares (IWM) moved above $242.35 to an all-time high extending an intermediate uptrend.

Intel (INTC) an S&P 100 stock moved above $26.53 and $27.55 after Nvidia announced purchase of Intel shares valued at $5 billion.

Strength in Intel triggered a breakout by Semiconductor iShares: SOXX on a move above $264.69

Thomson Reuters (TRI.TO) a TSX 60 stock moved below Cdn$229.40 extending an intermediate downtrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 18^th 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 18^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for September 18^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

10 Stocks Poised To Run After Fed Cuts Rates: Tom Bowley

10 Stocks Poised To Run After Fed Cuts Rates – YouTube

Stocks Hit New Highs After Fed Cut: Guy Adami , Dan Nathan and Liz Thomas

Stocks Hit New Highs After Fed Cut – YouTube

Big Short’ investor Steve Eisman: The most the Fed will cut in the end is 100 bps total

‘Big Short’ investor Steve Eisman: The most the Fed will cut in the end is 100 bps total – YouTube

CHART THIS with David Keller Thursday 9/18/25

https://www.youtube.com/watch?v=iTOVTptd9uo

S&P 500 Momentum Barometers

The intermediate term Barometer added 1.60 to 57.20. It remains Neutral.

The long term Barometer added 0.64 to 63.00. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 1.90 to 72.86. It remains Overbought.

The long term Barometer was unchanged at 83.81. 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.

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