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Stock Market Outlook for September 30, 2019


S&P 500 Index remains supported by its 50-day moving average, but the strength at this hurdle can only last so long before stops are triggered.

 

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:

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

Companhia Siderurgica Nacional, SA (NYSE:SID) Seasonal Chart

Companhia Siderurgica Nacional, SA (NYSE:SID) Seasonal Chart

Companhia Vale do Rio Doce (NYSE:VALE-P) Seasonal Chart

Companhia Vale do Rio Doce (NYSE:VALE-P) Seasonal Chart

Cal-Maine Foods, Inc. (NASD:CALM) Seasonal Chart

Cal-Maine Foods, Inc. (NASD:CALM) Seasonal Chart

BSM Technologies Inc. (TSE:GPS.TO) Seasonal Chart

BSM Technologies Inc. (TSE:GPS.TO) Seasonal Chart

ManpowerGroup (NYSE:MAN) Seasonal Chart

ManpowerGroup (NYSE:MAN) Seasonal Chart

Nuance Communications, Inc. (NASD:NUAN) Seasonal Chart

Nuance Communications, Inc. (NASD:NUAN) Seasonal Chart

Marathon Petroleum Corp. (NYSE:MPC) Seasonal Chart

Marathon Petroleum Corp. (NYSE:MPC) Seasonal Chart

Sykes Enterprises, Inc. (NASD:SYKE) Seasonal Chart

Sykes Enterprises, Inc. (NASD:SYKE) Seasonal Chart

Air Lease Corp. (NYSE:AL) Seasonal Chart

Air Lease Corp. (NYSE:AL) Seasonal Chart

PDF Solutions, Inc. (NASD:PDFS) Seasonal Chart

PDF Solutions, Inc. (NASD:PDFS) Seasonal Chart

NLIndustries, Inc. (NYSE:NL) Seasonal Chart

NLIndustries, Inc. (NYSE:NL) Seasonal Chart

California Amplifier, Inc. (NASD:CAMP) Seasonal Chart

California Amplifier, Inc. (NASD:CAMP) Seasonal Chart

Hawaiian Telcom Holdco, Inc. (NASD:HCOM) Seasonal Chart

Hawaiian Telcom Holdco, Inc. (NASD:HCOM) Seasonal Chart

 

 

The Markets

Stocks sold off on Friday as news that the White House was considering restrictions on US investments in Chinese companies sent investors fleeing for the exits intraday.  The S&P 500 Index fell by just over half of one percent intraday, ending off of the lows of the session.  The 50-day remains a level that investors are shooting against, but, while positive that it has held in the midst of all of the tape bombs that have led investors to question the bullish thesis for stocks, the strength at this hurdle can only last so long before stops are triggered.  Monday is the last day of the quarter, bringing an end to the rotation that is typical for this last month of the third quarter.  Equity benchmarks see a mildly positive tendency into the start of the new quarter as investors position for the final stretch of the calendar year.

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Just Released…The Monthly Outlook for October

This 69-page report provides guidance on how to position your portfolio for the month ahead.

Highlights in this report include:

  • Equity market tendencies in the month of October
  • A look at the favourable period for stocks between the end of October and the beginning of May
  • The fundamental backdrop of the economy this year compared to last year
  • The extraordinary situation of the Fed cutting rates amidst above average growth in payrolls and core inflation and what it entails for stocks
  • An equity market opportunity in this low interest rate environment
  • The technical status of the S&P 500 Index
  • Notable stocks entering their period of strength in October

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On the economic front, a report on US durable goods orders was released before Friday’s opening bell.  The headline print of August’s report indicates that new orders increased by 0.2%, far surpassing the consensus analyst estimate that called for 1.2% decline. However, core capital goods orders, a key metric for the health of business activity, fell by 0.2%, which is weaker than analyst forecasts that called for no change. Stripping out the seasonal adjustments, durable goods orders actually increased by 8.9%, which is weaker than the 10.9% increase that is average for this summer month. The year-to-date change now sits 2.6% above the seasonal average trend, which is well off of the 10.8% above average pace seen by this point last year.  We sent out further insight to subscribers.  Subscribe now!

Value of Manufacturers' New Orders for Durable Goods Industries Seasonal Chart

Sentiment on Friday, as gauged by the put-call ratio, ended bearish at 1.06.

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Seasonal charts of companies reporting earnings today:

Thor Industries, Inc. Seasonal Chart Cal-Maine Foods, Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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