Equity Clock

Stock Market Outlook for September 17, 2021

Headlines may have you believe that last month’s retail sales report was strong, but we have an alternate view.  Find out why in today’s report.

 

 

 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.   As always, the use of technical and fundamental analysis is encouraged in order to fine tune entry and exit points to average seasonal trends.

Stocks Entering Period of Seasonal Strength Today:

Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here.

Automatic Data Processing, Inc. (NASD:ADP) Seasonal Chart

Interactive Brokers Group, Inc. (NASD:IBKR) Seasonal Chart

Wall Financial Corp. (TSE:WFC.TO) Seasonal Chart

BMO India Equity Index ETF (TSE:ZID.TO) Seasonal Chart

Safety Insurance Group, Inc. (NASD:SAFT) Seasonal Chart

Templeton Dragon Fund (NYSE:TDF) Seasonal Chart

Illinois Tool Works, Inc. (NYSE:ITW) Seasonal Chart

Telecom Argentina (NYSE:TEO) Seasonal Chart

 

 

The Markets

Stocks closed little changed on Thursday as investors contemplate buying the dip following the downdraft in equity markets in recent weeks.  The S&P 500 Index closed down by just less than two-tenths of one percent, continuing to hold below short-term resistance at the 20-day moving average.  Intermediate support continues to be pegged at the rising 50-day moving average, which was tested around the lows of Wednesday’s and Thursday’s sessions.  The benchmark continues to hold within the limits of the rising 200-point range, but there are increasing cracks developing below the surface as momentum and the number of new highs in the market wanes. 

Today, in our Market Outlook to subscribers, we discuss the following:

• Downside risk for the S&P 500 Index should support at the 50-day moving average break
• US Retail Sales: What is driving activity and what the data says about the strength of the consumer
• Philadelphia Fed Manufacturing Index
• Copper: The level to watch for buying demand to re-appear and the comparison to a favorable time in history for the industrial metal
• The drop in precious metal prices: What caused it and the technical analysis of the commodities
• Gold Miners back to support
• Weekly jobless claims and the health of the labor market
• Natural Gas inventories and the seasonal trade in the commodity

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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.84.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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