Equity Clock

Stock Market Outlook for September 10, 2021

The mean reversion that is notorious for the end of the third quarter appears to have begun.  Find out where in today’s report.

 

 

 

*** 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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Mastercard (NYSE:MA) Seasonal Chart

Valley National Bancorp (NASD:VLY) Seasonal Chart

McGrath RentCorp (NASD:MGRC) Seasonal Chart

Armada Hoffler Properties, Inc. (NYSE:AHH) Seasonal Chart

US Bancorp (NYSE:USB) Seasonal Chart

TCF Financial Corp. (NASD:TCF) Seasonal Chart

51job Inc. (NASD:JOBS) Seasonal Chart

FedNat Holding Co. (NASD:FNHC) Seasonal Chart

National HealthCare Corp. (AMEX:NHC) Seasonal Chart

 

 

The Markets

Stocks dipped on Thursday as part of an ongoing digestion of the gains recorded in recent months as analysts start to reconsider the growth trajectory of the economy over the next year.  The S&P 500 Index shed around half of one percent, continuing to turn lower from the mid-point of the approximately 200-point range that the benchmark has been trading in all year.  The benchmark is back reaching towards short-term support at the rising 20-day moving average at 4486, but, of course, the more important level that every investor has their eye on is the rising 50-day moving average, which has supported each dip in the benchmark since the year began.  The intermediate hurdle now sits at 4421.  MACD continues to negatively diverge from price, emphasizing the waning buying demand that has persisted in the market over the past few months.

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

• The apparent start of quarter-end mean reversion and what that means for your portfolio
• Weekly jobless claims
• Tracking the spread of COVID versus the seasonal average trend for respiratory illnesses
• Natural gas inventories and our bullish stance in the commodity
• US petroleum status and the exposure in the energy sector that presents a viable play through the end of the year

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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.82.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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