Equity Clock

Stock Market Outlook for September 9, 2021

Gold/Copper ratio continues to hold around significant long-term support, the reaction to which could have implications for the long-term trend of stocks.

 

 

 

*** 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:

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Emera Inc. (TSE:EMA.TO) Seasonal Chart

Greenhill & Co. Inc. (NYSE:GHL) Seasonal Chart

Vascular Biogenics Ltd. (NASD:VBLT) Seasonal Chart

 

 

The Markets

Stocks closed generally lower on Wednesday as investors continue to question the growth trajectory of the economy.  The S&P 500 Index shed just over a tenth of one percent, continuing to show struggle around the mid-point to the approximately 200-point rising range that the benchmark has been in all year.  The rising span can now be see between 4450 and 4650, however, the gyrations in the upper half of this span have been absent for the past four months as momentum in the market wanes.  Short-term support around the rising 20-day moving average was tested around the low of Wednesday’s session, but the critical hurdle for the intermediate-term trend remains the rising 50-day moving average, now at 4417.  The negative divergence with respect to MACD continues to emphasize the waning momentum behind stocks at these heights, but, thus far, a pullback of any significance has been elusive given that no defined catalysts to sell have materialized.

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

• Investor uncertainty
• Gold/Copper Ratio testing significant support
• Bond/Stock ratio testing support
• Job Openings and Labor Turnover Survey (JOLTS): What is fueling the surge in job openings and how to take advantage ahead in our investment portfolio

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Sentiment on Wednesday, as gauged by the put-call ratio, ended bullish at 0.86.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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