Stock Market Outlook for September 27, 2019
Threat of a double-top on the S&P 500 Index overhanging the market.
*** 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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Gentex Corp. (NASD:GNTX) Seasonal Chart
Check Point Software Technologies, Ltd. (NASD:CHKP) Seasonal Chart
United Continental Holdings Inc. (NASD:UAL) Seasonal Chart
First Citizens BancShares, Inc. (NASD:FCNCA) Seasonal Chart
Domtar, Inc. (TSE:UFS.TO) Seasonal Chart
Oil Dri Corp. Of America (NYSE:ODC) Seasonal Chart
Acuity Brands, Inc. (NYSE:AYI) Seasonal Chart
The Markets
Stocks traded slightly lower on Thursday as investors continue to digest the latest headlines pertaining to trade and the ongoing saga of the Trump impeachment. The S&P 500 Index shed just less than a quarter of one percent, remaining supported by its 50-day moving average. The threat of a double-top around 3025 is overhanging the market, however, it is difficult to say conclusively given the time of year. Stocks tend to weaken between September 19th and September 30th as investors reallocate portfolios around the end of the quarter. Trading activity returns to normal at the start of the new quarter as investors position for earnings season, which starts in the next couple of weeks.
Released to subscribers intraday was a quick update on the seasonal trade in Natural Gas. Don’t miss out on this important insight. Subscribe now!
Soon to be released…
We are busy putting the finishing touches on our monthly report for October. Subscribe now to receive this report that covers the market from a seasonal, technical, and fundamental perspective.
Sentiment on Thursday, as gauged by the put-call ratio, ended bearish at 1.04.
Seasonal charts of companies reporting earnings today:
- No significant earnings scheduled.
S&P 500 Index
TSE Composite
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