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October 4, 2025 | Tech Talk for Saturday October 4th 2025

Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at www.timingthemarket.ca. Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

The calm before the storm! Frequency of quarterly reports by North American companies reaches a low point this week: Many companies are in the “quiet zone” period prior to release of results. Consensus shows that analysts are expecting lower earnings growth in the third quarter relative to the second quarter when earnings on a year-over-year basis by S&P 500 companies increased 11.5%. During the past two weeks, consensus for S&P 500 earnings growth in the third quarter bottomed near 7.7% and recovered to 8.0%. Technically, momentum indicators for the S&P 500 and TSX Composite remain elevated and have yet to show significant signs of turning down. Indeed, TSX long term Momentum Barometer closed at a five year high on Friday.

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October 4th, 2025

Posted In: Tech Talk

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