Pre-opening Comments for Wednesday October 29th
U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points at 8:30 AM EDT.
Bank of Canada’s interest rate decision is released at 9:45 AM EDT. The Bank of Canada is expected to lower its overnight lending rate for major Canadian banks by 0.25% to 2.25%. Press conference is scheduled at 10:30 AM EDT.
FOMC interest rate decision is released at 2:00 AM EDT. The Federal Reserve is expected to lower its Fed Fund rate by 0.25% to 4.00%. Press conference is scheduled at 2:30 PM EDT.
Booking Holdings (BKNG) added $254.43 to $5,375.00 after reporting higher than consensus third quarter revenues. Seasonal influences are favourable until February 21st. See seasonality chart at www.EquityClock.com
![clip_image001[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/10/clip_image0014-2.png "clip_image001[4]")
Mondelez (MDLZ) dropped $2.23 to $57.98 after lowering guidance below consensus.
![clip_image002[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/10/clip_image0024-3.png "clip_image002[4]")
Visa added $2.41 to $349.31 after reporting higher than consensus fiscal fourth quarter earnings and revenues.
![clip_image003[4]](https://timingthemarket.ca/techtalk/wp-content/uploads/2025/10/clip_image0034-2.png "clip_image003[4]")
EquityClock’s Market Outlook for October 29th
Poor breadth providing concern pertaining to the near-term support of the equity market. See:
https://equityclock.com/2025/10/28/stock-market-outlook-for-october-29-2025/
Technical Notes
Soybeans ETN (SOYB) moved above $22.78 completing a 12 month base building pattern.
Corn ETN (CORN) moved above $18.02 completing a reverse Head & Shoulders pattern
United Parcel Services (UPS) an S&P 100 stock moved above $89.30 completing a base building pattern. Seasonal influences are favourable until November 29th. See Seasonality chart at www.EquityClock.com
FedEx (FDX) an S&P 100 stock moved above $250.09 extending an intermediate uptrend. Seasonal influences are favourable until December 14th. See seasonality chart at www.EquityClock.com
Notable big cap base metal stocks broke to all-time highs: Southern Copper (SCCO) moved above $136.49. Rio Tinto (RIO) moved above $72.00. Seasonal influences for Rio Tinto are favourable until January 16th. See seasonality chart at www.EquityClock.com
Regeneron (REGN) a NASDAQ 100 stock moved above $638.01 completing a long term reverse Head & Shoulders pattern.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for October 28th 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 28th 2025
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for October 28th 2025
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Paul Tudor Jones: Ingredients are in place for massive rally before a ‘blow off’ top to bull market
Historical Headwinds Meet Market Momentum: Who Wins? | Trading Places Live! October 28, 2025: Tom Bowley
What Wall Street Missed in Friday’s CPI, Fed Moves, & China Trade Talks: Guy Adami and Liz Thomas
What Wall Street Missed in Friday’s CPI, Fed Moves, & China Trade Talks – YouTube
Markets Brace for Mag 7 Earnings, Closer Look Into $500B Japan Trade Deal: Schwab Networks
Markets Brace for Mag 7 Earnings, Closer Look Into $500B Japan Trade Deal – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer dropped 9.40 to 47.80. It remains neutral.
The long term Barometer dropped 2.60 to 62.00. It remains Overbought.
TSX Momentum Barometers
The intermediate term Barometer dropped 1.88 to 62.91. It remains Overbought. Daily trend has turned down.
The long term Barometer dropped 2.35 to 81.22. 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
|
|
October 29th, 2025 at 4:06 am
Ka-ching! If you’ve been long in this market it’s been quite good. The high year end targets were 7,000 for SPX and here we are around 6900. SPX is pushing above the upper end of the Bollinger Band. It’s stretched and its not bad to take some profits along the way. I’m looking for a test of this break higher on SPX to bring it back to the 6750 level and meet the 20 day MA. The AI trade is in full force and NVDA is the big winner in a trade deal with China. If anything I would expect money to continue coming out of other parts of the market to go into tech now and particularly semis. You don’t want to sell tech at all now.