Pre-opening Comments for Wednesday October 22^nd

U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points at 8:30 AM EDT.

Netflix dropped $77.36 to $1,163.99 after reporting lower than consensus third quarter earnings.

Texas Instruments dropped $15.04 to $165.80 after reporting less than consensus third quarter results. The company also lowered guidance.

Intuitive Surgical advanced $74.07 to $536.81 after reporting higher than consensus third quarter revenues and earnings.

Mattel dropped $1.30 to $17.52 after reporting less than consensus third quarter revenues and earnings.

EquityClock’s Market Outlook for October 22^nd

Gold may be correcting its near-term parabolic climb, but the intermediate-term trend remains positive; we’ll tell you when to look to become aggressive in the commodity again. See:

https://equityclock.com/2025/10/21/stock-market-outlook-for-october-22-2025/

Technical Notes

U.S. Real Estate iShares (IYR) moved above $98.11 and $98.16 extending an intermediate uptrend.

Water Resources ETF (PHO) moved above $74.23 to an all-time high extending an intermediate uptrend.

MMM (MMM) a Dow Jones Industrial Average stock moved above $164.83 to an all-time high previously set in 2018 extending an intermediate uptrend. Seasonal influences are favourable until January 16^th. See seasonality chart at www.equityclock.com

General Motors (GM) an S&P 100 stock moved above $64.98 to an all-time high extending an intermediate uptrend. Seasonality influences are favourable until January 10^th. See seasonality chart at www.equityclock.com

GE Aerospace (GE) an S&P 100 stock moved above $306.88 to an all-time high extending an intermediate uptrend.

Altria (MO) an S&P 100 stock moved below $63.40 completing a double top pattern.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for October 22^nd 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 22nd 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 21^st 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Are Central Banks Telegraphed Something Big? Guy Adami and Liz Thomas

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

Headwinds or Opportunity? Breaking Down This Week’s Action | Trading Places Live! October 21, 2025: Tom Bowley

https://www.youtube.com/watch?v=vH_tI5XuATI

5 Charts Holding Strong — And 1 Breaking Down: David Keller

5 Charts Holding Strong — And 1 Breaking Down – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer advanced 2.00 to 54.80. It remains Neutral.

The long term Barometer added 1.20 to 65.80. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped 1.87 to 66.36. It remains Overbought.

The long term Barometer dropped 1.40 to 80.37. 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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