US Equity Indices Higher, CRM Pops 7%
By
Mike Paulenoff
Good Thursday Morning, MPTraders! October 16, 2025-- Pre-Market Update:
-- The Equity Indices are higher this AM, with ES trading ABOVE its 20 DMA (See my Big Picture Chart below), BUT has not (yet) thrust out of the Bullish Coil formation discussed yesterday afternoon (see my Hourly Chart below)...
From an intraday perspective, first support resides at 6695-6700, but if violated, critical "Coil support" is at yesterday's upside pivot from 6651.50, which MUST CONTAIN ANY ACUTE BOUT OF WEAKNESS TO PRESERVE THE BULLISH COIL SETUP.
Strength that 1) sustains above the 20 DMA (6727) and 2) that hurdles resistance from 6757 to 6767 will trigger a higher projection into new ATH territory at 6820/30 (minimum target) and thereafter, to 6910/30 (outlier target)... Last is 67345.00...
-- CRM (Salesforce.com), which imo has been traveling under everyone's radar recently, raised its longer-term guidance at yesterday's Investor Day (See Seeking Alpha snippet below). The news has goosed the stock by nearly 7%.
Technically, the 7% pop has the right look of the initiation of a rally that is heading for a confrontation with key 6-week resistance from 255 to 258 that if (when) taken out, will trigger a higher projection to 280-287 next.
On any forthcoming nearest-term weakness, 245-247 support must contain the sell-off to preserve and to extend the budding bullish technical setup on the runway to CRM Earnings scheduled for 11/26/25... Last is 250.98...
From Seeking Alpha:
