Pre-opening Comments for Thursday December 18^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 40 points at 8:35 AM EST.

S&P 500 futures added 9 points following release of the November U.S. Consumer Price Index at 8:30 AM EST. The Index was expected to increase 0.3% versus a 0.3% increase in October. Actual was a 0.2% increase. On a year-over-year basis, November CPI was expected to increase 3.1%. Actual was a 2.7% increase. On a year-over-year basis excluding food and energy, November Consumer Price Index was expected to increase 3.0% versus a 3.0% in October. Actual was a 2.6% increase

Micron advanced $15.98 to $241.68 after reporting higher than consensus fiscal first quarter results and after offering positive fiscal second quarter guidance.

Lululemon (LULU) gained $8.63 to $216.50 after activist investor Elliott confirmed building a stake in the company valued at more than $1 billion.

Trump Media & Technology (DJT) advanced $2.37 to $12.84 after announcing a merger with TAE Technology in a $6 billion deal.

EquityClock’s Market Outlook for December 18^th

Clear signs of loss of Tech/AI leadership and other concerns for risk assets for early 2026. See:

https://equityclock.com/2025/12/17/stock-market-outlook-for-december-18-2025/

Technical Notes

Palladium ETN (PALL) moved above $148.49 extending an intermediate uptrend.

Broadcom (AVGO) an S&P 100 stock moved below $329.06 and $324.50 setting an intermediate downtrend.

CrowdStrike (CRWD) a NASDAQ 100 stock moved below $477.55 and $475.39 completing a Head & Shoulders pattern.

Trader’s Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for December 17^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 December 17^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for December 17^th 2025

Green: Increase from previous day

Red: Decrease from previous day

Links offered by valued providers

AI Infrastructure Continues To Puke | $CRWV $ORCL $NVDA: Guy Adami, Dan Nathan, Liz Thomas

AI Infrastructure Continues To Puke | $CRWV $ORCL $NVDA – YouTube

Markets will have a good year but still lots of angst in markets, says RBC’s Lori Calvasina

Markets will have a good year but still lots of angst in markets, says RBC’s Lori Calvasina – YouTube

Stocks Showing Early Market Rotation Using Relative Strength: Joe Rabil

https://www.youtube.com/watch?v=5wWpERfzey4

From NAILED IT to DISASTER: My Real 2025 Trading Results: ValueTrendCanada

https://www.youtube.com/watch?v=_nXlz85WDEU

S&P 500 Momentum Barometers

The intermediate term Barometer added 1.80 to 58.80. It remains Neutral.

The long term Barometer added 0.40 to 61.80. It remains Overbought.

TSX Momentum Barometers

The intermediate term Barometer dropped 0.95 to 63.03. It remains Overbought. Daily downtrend has been established.

The long term Barometer added 0.47 to 81.52. 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

More from the network: Stock Market Outlook for December 18, 2025 Stock Market Outlook for December 17, 2025 Stock Market Outlook for December 16, 2025 Stock Market Outlook for December 15, 2025 Stock Market Outlook for December 12, 2025