Equity Clock

Stock Market Outlook for September 13, 2021

Quarter-end mean reversion continues to play out in the market, which is benefitting this core cyclical bet.

 

 

 

*** 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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Sherwin Williams Co. (NYSE:SHW) Seasonal Chart

Altius Minerals Corp. (TSE:ALS.TO) Seasonal Chart

Discovery, Inc. (NASD:DISCA) Seasonal Chart

Acco Brands Corp. (NYSE:ACCO) Seasonal Chart

Steelcase, Inc. (NYSE:SCS) Seasonal Chart

BMO S&P 500 Hedged to CAD Index ETF (TSE:ZUE.TO) Seasonal Chart

Goldman Sachs BDC Inc. (NYSE:GSBD) Seasonal Chart

Invesco DWA Financial Momentum ETF (NASD:PFI) Seasonal Chart

HP Inc. (NYSE:HPQ) Seasonal Chart

Employers Holdings Inc. (NYSE:EIG) Seasonal Chart

Investors Title Co. (NASD:ITIC) Seasonal Chart

 

 

The Markets

Stocks drifted lower again to close the final trading session of the week as buying demand in the market continues to stall as we head into the end of the third quarter.  The S&P 500 Index slipped by almost eight-tenths of one percent, continuing to trade lower from the mid-point to the approximately 200-point trading range that the benchmark has been in all year.  The lower limit of the rising range can be pegged at 4450, a hurdle that the benchmark is quickly closing in on as the market digests the gains that were recorded over the past few months.  The negative divergence with respect to MACD emphasizes the waning momentum that has been playing out since July.  So far, the pullback in recent days has been quite orderly, although hints of investor uncertainty remain as they try to ascertain whether the appropriate stance on this drawdown is to be risk-on or risk-off.

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

• Weekly look at the large-cap benchmark
• Quarter-end mean reversion
• Canada Labour Force Survey and what is driving employment activity
• The Canadian Dollar
• Producer Price Index (PPI) and how to take advantage of the increase in prices that manufacturers are paying
• The price of Copper

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Sentiment on Friday, as gauged by the put-call ratio, ended neutral at 0.99.

 

 

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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