Responses to FOMC news released yesterday at 2:00 PM EDT

The FOMC lowered its Fed Fund Rate by 0.25% to 3.75%-4.00% as expected. It also announced plans to end its “Quantitative Tightening” program on December 1^st. In addition, a future reduction in the Fed Fund Rate at the next FOMC meeting scheduled on December 10^th is “not a forgone conclusion” partially due to a lack of reliable available economic data related to the federal government shut down. Responses in key markets after 2:00 PM EDT were as follows:

Price on U.S. Aggregate Bond iShares (AGG) dropped

S&P 500 Index initially dropped but recovered to a small loss.

U.S. Dollar Index ETN (UUP) advanced

Large cap U.S. money center SPDRs (KBE) dropped

Gold SPDRs dropped

The Canadian Dollar dropped

Technical Notes

Global Metals iShares (PICK) moved above $46.02 to an all-time high extending an intermediate uptrend.

Broadcom (AVGO) moved above $373.59 to an all-time high extending an intermediate uptrend.

S&P 100 and NASDAQ 100 stock breaking support extending an intermediate downtrend included Mondelez (MDLZ) on a move below $58.90, ADP (ADP) on a move below $269.86, Costar (CSGP) on a move below $119.02, Verisk (VRSK) on a move below $215.39 and Cintas on a move below $179.74

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Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for October 29^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 October 29^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 29^th 2025

Green: Increase from previous day

Red: Decrease from previous day

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 6.00 to 41.80. It remains neutral.

The long term Barometer dropped 6.20 to 55.80. It changed from Overbought to Neutral on a move below 60.00.

TSX Momentum Barometers

The intermediate term Barometer dropped 4.69 to 58.22. It changed from Overbought to Neutral on a drop below60.00.

The long term Barometer dropped 1.41 to 79.81. 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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