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Stock Market Outlook for September 21, 2021


Time to buy this short-term oversold extreme?

 

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.

Lam Research Corp. (NASD:LRCX) Seasonal Chart

Lam Research Corp. (NASD:LRCX) Seasonal Chart

Provident Financial Services Inc. (NYSE:PFS) Seasonal Chart

Provident Financial Services Inc. (NYSE:PFS) Seasonal Chart

PBF Energy Inc. (NYSE:PBF) Seasonal Chart

PBF Energy Inc. (NYSE:PBF) Seasonal Chart

Eagle Bancorp Montana, Inc. (NASD:EBMT) Seasonal Chart

Eagle Bancorp Montana, Inc. (NASD:EBMT) Seasonal Chart

 

 

The Markets

Stocks sold off on Monday as concerns pertaining to the Chinese property market raised fears of contagion in other parts of the economy.  The S&P 500 Index shed 1.70%, breaking definitively below the rising 200-point trading range that has been in place all year, as well as the rising 50-day moving average, both of which were cracked on Friday.  At the lows of the session, the benchmark tested levels around the rising 100-day moving average, a level highlighted in our report released to subscribers on Thursday as a potential level to provide a backstop to the market during period of weakness for stocks that is normal through the back half of September.  Momentum indicators have given up their characteristics of a bullish trend with the Relative Strength Index (RSI) and MACD below their middle lines.  RSI is very close to 30, which is the dividing line between a neutral and an oversold market.

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

  • Hourly look at the large-cap benchmark and whether it is appropriate to buy this short-term oversold extreme
  • Notable changes in this week’s chart books and general commentary on how the vast majority of market industries are viewed
  • The rotation towards reopening plays and how to play it via these two ETFs
  • The bearish shift in investor sentiment

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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.

Subscribe now.

Sentiment on Monday, as gauged by the put-call ratio, ended bearish at 1.08. 

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Seasonal charts of companies reporting earnings today:

Adobe Inc. Seasonal Chart FedEx Corporation Seasonal Chart AutoZone, Inc. Seasonal Chart Cracker Barrel Old Country Store, Inc. Seasonal Chart InnovAge Holding Corp. Seasonal Chart Aurora Cannabis Inc. Seasonal Chart Apogee Enterprises, Inc. Seasonal Chart IsoRay, Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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Seasonal Advantage Portfolio by CastleMoore

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