Equity Clock

Stock Market Outlook for September 8, 2021

While stocks slipped on Tuesday, it was the defensive segments of the market that realized the bulk of the selling pressures.

 

 

 

*** 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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Chubb Ltd. (NYSE:CB) Seasonal Chart

AT&T, Inc. (NYSE:T) Seasonal Chart

Home BancShares Inc. (NASD:HOMB) Seasonal Chart

Renaissance RE Holdings Ltd. (NYSE:RNR) Seasonal Chart

Mesa Laboratories, Inc. (NASD:MLAB) Seasonal Chart

Vanguard FTSE Developed Asia Pacific All Cap Index ETF (TSE:VA.TO) Seasonal Chart

Invesco KBW Property & Casualty Insurance ETF (NASD:KBWP) Seasonal Chart

Invesco S&P 500 Value with Momentum ETF (AMEX:SPVM) Seasonal Chart

Walker & Dunlop Inc. (NYSE:WD) Seasonal Chart

Alphabet Inc. (NASD:GOOGL) Seasonal Chart

Cohu, Inc. (NASD:COHU) Seasonal Chart

Sterling Bancorp (NYSE:STL) Seasonal Chart

ESSA Bancorp Inc (NASD:ESSA) Seasonal Chart

Invesco Dynamic Large Cap Value ETF (NYSE:PWV) Seasonal Chart

 

 

The Markets

Stocks drifted lower to start the new trading week as investors gauge the growth trajectory of the economy going into the fall.  The S&P 500 Index shed just over a third of one percent, continuing to show signs of reaction to the mid-point of the approximately 200-point rising range that can now be seen between 4450 and 4650.  Short-term support can be pegged at the rising 20-day moving average at 4480, however, the level that remains critical to the intermediate trend is the 50-day moving average at 4412.  Momentum indicators, while still showing characteristics of a bullish trend, continue to stall as investors enticement to take on new positions at these heights remains absent.  Approximately four weeks remain in the period of volatility for stocks, therefore be prepared for anything.

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

• The short-term peaks being charted in some defensive sector ETFs
• The jump in the Volatility Index
• Notable changes in this week’s chart books: Find out what has been upgraded to Accumulate in this week’s look

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Want to know which areas of the market to buy or sell?  Our Weekly Chart Books have just been updated, providing a clear Accumulate, Avoid, or Neutral rating for currencies, cryptocurrencies, commodities, broad markets, and subsectors/industries of the market.  Subscribers can login and click on the relevant links to access.

• Currencies
• Cryptocurrencies
• Commodities
• Major Benchmarks
• Sub-sectors / Industries

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Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.87.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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