Pre-opening Comments for Friday October 24^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 50 points at 8:35A AM EDT.

S&P 500 futures advanced 30 points following release of the September Consumer Price Index at 8:30 AM EDT. Consensus was a 0.4% increase. Actual was a 0.3% increase. Excluding food and energy, consensus was a 0.3% increase. Actual was a 0.2% increase.

Intel added $2.29 to $40.30 after reporting higher than consensus third quarter revenues.

Ford gained $0.36 to $12.70 after reporting higher than consensus third quarter earnings. Seasonal influences are favourable until January 10^th. See seasonality chart at www.EquityClock.com

Deckers Outdoors dropped $12.85 to $89.69 after warning about impact on sales due to imposition of tariffs on imported goods.

Sallie Mae advanced $1.66 to $28.39 after reporting higher than consensus third quarter results.

EquityClock’s Market Outlook for October 24^th

Uncertain consumer backdrop suggests to look past retail exposure in portfolios during this seasonally positive timeframe ahead. See:

https://equityclock.com/2025/10/23/stock-market-outlook-for-october-24-2025/

Technical Notes

Crude Oil (USO) moved above its 20 and 50 day moving averages

Oil Services ETF (OIH) moved above $270.27 extending an intermediate uptrend.

Roper Technologies (ROP) a NASDAQ 100 stock moved below $242.24 extending an intermediate downtrend.

Toronto Dominion Bank (TD.TO) moved above $113.17 to an all-time high extending an intermediate uptrend.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for October 23^rd 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 23^rd 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for October 23^rd 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

Something’s Gotta Give… Guy Adami, Dan Nathan, Liz Thomas, John Butters

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

Build a Smarter Portfolio with RRG Charts — Step by Step

https://www.youtube.com/watch?v=af7OjIzYZuY

Strong Earnings and Lower Rates to Drive S&P 500 Higher: Tom Bowley

Strong Earnings and Lower Rates to Drive S&P 500 Higher (stockcharts.com)

S&P 500 Momentum Barometers

The intermediate term Barometer added 1.40 to 52.20. It remains Neutral.

The long term Barometer added 1.00 to 66.60. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer added 2.20 to 70.42. It remains Overbought.

The long term Barometer slipped 0.55 to $83.10. 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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