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Stock Market Outlook for September 27, 2024

Semiconductors resolving their recent corrective pattern as their optimal holding period gets set to begin.

Real Time Economic Calendar provided by Investing.com.

 

 

*** 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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UBS AG (NYSE:UBS) Seasonal Chart

UBS AG (NYSE:UBS) Seasonal Chart

Victory Capital Holdings, Inc. (NASD:VCTR) Seasonal Chart

Victory Capital Holdings, Inc. (NASD:VCTR) Seasonal Chart

Nuveen ESG Large-Cap Value ETF (AMEX:NULV) Seasonal Chart

Nuveen ESG Large-Cap Value ETF (AMEX:NULV) Seasonal Chart

United Airlines Holdings Inc. (NASD:UAL) Seasonal Chart

United Airlines Holdings Inc. (NASD:UAL) Seasonal Chart

Stantec Inc (NYSE:STN) Seasonal Chart

Stantec Inc (NYSE:STN) Seasonal Chart

CorVel Corp. (NASD:CRVL) Seasonal Chart

CorVel Corp. (NASD:CRVL) Seasonal Chart

AAR Corp. (NYSE:AIR) Seasonal Chart

AAR Corp. (NYSE:AIR) Seasonal Chart

Walt Disney Co. (NYSE:DIS) Seasonal Chart

Walt Disney Co. (NYSE:DIS) Seasonal Chart

Brink's Co. (NYSE:BCO) Seasonal Chart

Brink’s Co. (NYSE:BCO) Seasonal Chart

Acuity Brands, Inc. (NYSE:AYI) Seasonal Chart

Acuity Brands, Inc. (NYSE:AYI) Seasonal Chart

Graco, Inc. (NYSE:GGG) Seasonal Chart

Graco, Inc. (NYSE:GGG) Seasonal Chart

Choice Hotels Intl, Inc. (NYSE:CHH) Seasonal Chart

Choice Hotels Intl, Inc. (NYSE:CHH) Seasonal Chart

Strattec Security Corp. (NASD:STRT) Seasonal Chart

Strattec Security Corp. (NASD:STRT) Seasonal Chart

Transmation, Inc. (NASD:TRNS) Seasonal Chart

Transmation, Inc. (NASD:TRNS) Seasonal Chart

 

The Markets

Stocks ended with gains on Thursday as investors flooded into equities that are in a position to benefit from recently announced stimulus measures in China.  The S&P 500 Index closed with a gain of four-tenths of one percent, achieving a fresh record high despite ongoing evidence of waning of near-term upside momentum.  The benchmark remains above horizontal resistance that was broken last Thursday at 5650 and support remains well defined at the 100-day moving average (5461).  Seasonality has us locked into a cautious view of stocks through the remaining days of September and the near-term evidence of upside exhaustion hints that we could still get another test lower before the end of the month and, possibly, into the start of next. The groups denoted as Accumulate candidates in our weekly chart books continue to work very well and we will scrutinize our list of Avoid candidates carefully once we get beyond this normally weak period on the calendar that corresponds with end of quarter mean reversion.

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

  • US Durable Goods Orders and the investment implications within
  • Weekly Jobless Claims and the health of the labor market
  • Natural Gas Inventories and the dynamics playing out in the energy market

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for September 27

Not signed up yet?  Subscribe now to receive full access to all of the research and analysis that we publish.

Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.78.

 

Seasonal charts of companies reporting earnings today:

  • No Significant earnings scheduled for today.

 

S&P 500 Index

 

TSE Composite

 

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