Technical Notes
Alcoa (AA) moved above $34.25 extending an intermediate uptrend. Seasonal influences are favourable until December 29th. See Seasonality chart at www.equityclock.com
Marvell Technology (MRVL) a NASDAQ 100 stock moved above $85.27 resuming an intermediate uptrend.
Ross Stores (ROST) a NASDAQ 100 stock moved above $154.72 resuming an intermediate uptend. Seasonal influences are favourable until January 10th. See seasonality chart at www.equityclock.com
Travelers (TRV) a Dow Jones Industrial Average stock moved above $279.99 to an all-time high extending an intermediate uptrend. Seasonal influences are favourable on a real and relative basis until November 11th. See seasonality chart at www.equtiyclock.com
Comcast (CMCSA) an S&P 100 stock moved below $30.70 extending an intermediate uptrend
U.S. Crude Oil ETN (USO) moved below $71.56 extending an intermediate downtrend.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for October 2nd 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 2nd 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for October 2nd 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
10 Stocks Set to Soar in October 2025: Tom Bowley
10 Stocks Set to Soar in October 2025 – YouTube
What Happens To Markets During A Shutdown? Guy Adami, Dan Nathan and Liz Thomas
What Happens To Markets During A Shutdown? – YouTube
Market Call: Colin Cieszynski’s outlook on Technical Analysis
Market Call: Colin Cieszynski’s outlook on Technical Analysis – YouTube
Wolf on Bay Street
Don Vialoux is a guest on “Wolf on Bay Street” to be released on Saturday at 7:00 PM EDT on Corus Radio 640. Following are notes developed prior to the interview:
Notes for Wolf and Jack (October 2nd 2025)
Historically, U.S. and Canadian equity markets have their strongest seasonal period of the year from the fourth week in October to the first week in January. Look for history to repeat this year (although strength could be delayed this year until well into the fourth quarter due to tariff concerns)
Earnings growth by major U.S. and Canadian manufacturing companies in the third and fourth quarters of this year is expected to weaken due to pre-buying prior to launch of tariffs in the first half of 2025. Consensus calls earnings growth for S&P 500 companies to drop from 11.5% in the second quarter to 7.9% in the third quarter and 7.4% in the fourth quarter. Earnings gains accelerate thereafter: 11.7% in the first quarter of 2026 and 12.7% in the second quarter. For all of 2026, consensus calls for earnings growth at 13.8%.
Revenues and earnings gains by Canadian manufacturing companies are expected to be particularly hard hit in the second half of 2025 due to tariffs. Government assistance partially will help to offset the impact.
Canada’s strongest sectors in the second half of 2025 are related to commodity prices: Prices of gold, silver, platinum, palladium and copper are at or near all-time highs. Profit margins by producers will expand significantly.
Canada’s forest product industry is expected to be particularly hard hit by higher tariffs announced by Trump last week. Not surprising, this sector dropped to a 5 year low last week.
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 0.20 to 57.80. It remains Neutral.
The long term Barometer slipped 0.60 to 66.40. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer added 0.47 to 75.12. It remains Overbought.
The long term Barometer added 0.94 to 87.32, highest level since December 2020. It remains Overbought. Daily uptrend was extended.
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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Equity Clock Publications