Pre-opening Comments for Thursday June 26^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points at 8:35 AM EDT.

S&P 500 futures drop 5 points following release of economic news at 8:30 AM EDT. Consensus for May U.S. Durable Goods Orders was a 7.5% increase versus a 6.3% increase in April (boosted by aircraft sales). Actual was a 16.4% increase. Consensus for updated U.S. first quarter annualized real GDP was a 0.2% drop versus a 2.4% gain in the fourth quarter of 2024. Actual was a 0.5% drop.

Micron added $1.20 to $128.45 after reporting higher than consensus fiscal third quarter revenues. The company also raised guidance.

Couche Tard is expected to open lower after reporting a slight decline in fourth quarter revenues and earnings.

General Mills dropped $2.73 to $50.68 after reporting less than consensus fiscal fourth quarter earnings.

EquityClock’s Market Outlook for June 26^th

The dynamics of supply and demand in the energy market over the past few weeks is causing us to rethink our thesis pertaining to Oil and Energy sector stocks for the months ahead. See:

https://equityclock.com/2025/06/25/stock-market-outlook-for-june-26-2025/

Technical Notes

Platinum ETN (PPLT) moved above $122.48 to a ten year high extending an intermediate uptrend.

Taiwan iShares (EWT) moved above $57.15 to an all-time high extending an intermediate uptrend.

Nvidia (NVDA) an S&P 100 stock moved above $153.11 to an all-time high extending an intermediate uptrend.

Broadcom (AVGO) an S&P 100 stock moved above $264.81 to an all-time high extending an

intermediate uptrend.

Goldman Sachs (GS) a Dow Jones Industrial Average stock moved above $665.56 to an all-time high extending an intermediate uptrend.

Wells Fargo (WFC) an S&P 100 stock moved above $78.80 extending an intermediate uptrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for June 25^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 June 25^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for June 25^th 2025

Green: Increase from previous day

Red: Decrease from previous day

CATA Meeting

Next Canadian Association for Technical Analysis zoom meeting is held this evening at 8:00 PM EDT. Speaker is Steven Primo. Everyone is welcome. Not a member of CATA? Contact:

Home – Canadian Association for Technical Analysis (canadianata.ca)

Links offered by valued providers

How to Use Fibonacci Retracements to Spot Key Levels: David Keller

https://www.youtube.com/watch?v=AvyYEyidaPs&t=9s

Soft Data & Hard Truths: The Signals Pointing to Economic Downturn with David Rosenberg

https://www.youtube.com/watch?v=seUMi9hyTr8

Canadian Unemployment may rise to 7.3% then stabilize: Deloitte:

Unemployment may rise to 7.3% then stabilize: Deloitte – YouTube

Market "Complacency" on Trade Policy as July 9th Looms: Liz Ann Sanders/Schwab

Market "Complacency" on Trade Policy as July 9th Looms – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 8.20 to 68.60. It remains Overbought.

The long term Barometer dropped 3.60 to 50.80. It remains Neutral.

TSX Momentum Barometers

The intermediate term Barometer dropped another 3.59 to 83.41. It remains Overbought. Daily downtrend has been established.

The long term Barometer dropped 1.38 to 74.65. It remains Overbought.

Short term (20 days) Barometer plunged 12.90 to 60.69. Short term downtrend was established.

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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