Pre-opening Comments for Thursday October 2nd
U.S. equity index futures were higher this morning. S&P 500 futures were up 17 points at 8:30 AM EDT.
Occidental Petroleum advanced $0.74 to $48.46 after the company sold its OxyChem division to Berkshire Hathaway for $9.7 billion. Berkshire Hathaway slipped $1.19 to $497.01 on the news
![clip_image001[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/10/clip_image0014.png "clip_image001[4]")
![clip_image002[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/10/clip_image0024.png "clip_image002[4]")
Stellantis added $0.68 to $10.32 after reporting higher than consensus quarterly results.
![clip_image003[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/10/clip_image0034.png "clip_image003[4]")
EquityClock’s Market Outlook for October 2nd
The degradation in the labor market presents concern pertaining to Consumer Discretionary exposure in portfolios through the end of the year. See:
https://equityclock.com/2025/10/01/stock-market-outlook-for-october-2-2025/
Technical Notes
U.S. Natural Gas Fund ETN (UNG) moved above $13.46 completing a double bottom pattern.
Europe iShares (IEV) moved above $65.54 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable until early January. See seasonality chart at www.equityclock.com
Amex Biotech ETF (FBT) moved above $183.60 to an all-time high extending an intermediate uptrend. VanEck Biotech ETF (BBH) moved above $169.41 and $170.61 extending an intermediate uptrend. Leading the move was a breakout by Biogen (BIIB) above $150.28 extending an intermediate uptrend.
Base Metals iShares (PICK) moved above $44.84 extending an intermediate uptrend. Seasonal influences are favourable until January 7th. See seasonality chart at www.EquityClock.com
Pfizer (PFE) a Dow Jones Industrial Average stock moved above $$26.11 and $26.28 completing a reverse Head & Shoulders pattern. Merck (MRK) a Dow Jones Industrial Average stock move above $86.98 extending an intermediate uptrend. Eli Lilly (LLY) an S&P 100 stock moved above $823.19 setting an intermediate uptrend. Strength in PFE, MRK and LLY was a major reason why VanEck Pharmaceutical ETF (PPH) broke to a 12 month high.
Dollarama (DOL.TO) a TSX 60 stock moved below $181.80 completing a Head & Shoulders pattern.
S&P 100 and NASDAQ 100 stocks moving below support setting intermediate downtrends included Meta Platforms (META), Booking Holdings (BKNG), Atlassian (TEAM), Mercadolibre (MELI), Linde (LIN), eBay (EBAY), Gilead Sciences (GILD) and Analog Devices (ADI).
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for October 1st 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 October 1st 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for October 1st 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
10 Must-See Charts For October 2025: Jason Rose and David Keller
10 Must-See Charts For October 2025 – YouTube
MRKT Call – Wednesday, October 1st: Guy Adami and Dan Nathan
MRKT Call – Wednesday, October 1st – YouTube
BMO’s Brian Belski: The Fed has to bring some credibility back with the market
BMO’s Brian Belski: The Fed has to bring some credibility back with the market – YouTube
G Squared’s Victoria Greene: Q4 seasonality and technicals make the case to stay long risk assets
Halftime Report’ team break down their Q4 investment strategies
‘Halftime Report’ team break down their Q4 investment strategies – YouTube
Treasury rates fall on weak ADP jobs report: Rick Santelli
Treasury rates fall on weak ADP jobs report – YouTube
Canada in investment crisis: Business Council of Canada
Canada in investment crisis: Business Council of Canada – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 0.60 to 58.00. It remains neutral.
The long term Barometer added 0.60 to 67.00. It remains Overbought.
TSX Momentum Barometers
The intermediate Barometer added 1.88 to 74.65. It remains Overbought.
The long term Barometer added 0.94 to 86.39. 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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October 2nd, 2025 at 7:05 am
It must be excruciating for market participants who sat on cash fearing September, fearing Rosh Hashanah,etc see the market continue to climb making new all-time highs. We just experienced the best September for stocks since 2013. What do you do now? Do you continue to sit on your cash or start buying stocks at all-time highs? FOMO must be getting pretty strong. That cash wants to be deployed and should support the market should any weakness develop.
Semis are on fire. You have the equal weighted index RSP making new all-time highs indicating healthy market breadth. The VIX is low. What more do investors need? Oh yeah, I found it, the CNN Market Sentiment Indicator is at 49 “Neutral” indicating the market has room to move higher. On top of all of that you have negative news in the form of a shut-down of the US government that the market has chosen to ignore and move higher.
October 2nd, 2025 at 11:24 am
tnx Larry….you just described me perfectly…….but I cant buy at 22-24 times next year earnings….
October 2nd, 2025 at 1:31 pm
Hey Bruce. It’s not easy. You can’t invest based on what you think the market should do but on the basis of what the market wants to do.
Financials – Just when I thought I might diversify a little into them I get quickly pickpocketed. The money center banks like JPM, MS, C, BAC are all correcting. They ran up a lot and it looks like they are being used as a source of funds to go into semis.
Speaking of being pickpocketed I am going through our records and I found a cheque that was cashed in our account in 2016 cashed a second time in 2025. It’s fraud. I have the cheque images. I’m guessing the thief thought I would destroy records after seven years and not be able to check back but I kept them. Anything cheque older than six months is supposed to be rejected by the bank but they failed on their end. Always cheque your monthly statements carefully.