Equity Clock

Stock Market Outlook for September 15, 2020

The 50-day is still in play.

 

 

 

*** 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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Kootenay Silver, Inc. (TSXV:KTN.V) Seasonal Chart

Value Line, Inc. (NASD:VALU) Seasonal Chart

Purpose Multi-Strategy Market Neutral Fund (TSE:PMM.TO) Seasonal Chart

iShares Edge MSCI Min Vol Canada Index ETF (TSE:XMV.TO) Seasonal Chart

BMO Dow Jones Industrial Average Hedged to CAD Index ETF (TSE:ZDJ.TO) Seasonal Chart

First Trust Value Line Dividend Index Fund (NYSE:FVD) Seasonal Chart

 

 

The Markets

Stocks jumped to start the new week as investors digested positive news pertaining to coronavirus vaccine trials.  The S&P 500 Index closed the session higher by 1.27%, bouncing around support around its rising 50-day moving average.  Short-term resistance around the 20-day moving average at 3428 is directly overhead.  So far, support at the 50-day moving average remains conducive to maintaining the positive intermediate-term trend of higher-highs and higher-lows, but confirmation of resistance at the 20 day moving average or a break of the 50-day moving average below would, quite obviously, have negative intermediate-term implications.  For now, the recent weakness still appears to be a healthy correction within a rising intermediate-term trend, but it appears unreasonable to expect new all-time highs any time in the immediate future. 

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Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.83.

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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