Equity Clock

Stock Market Outlook for September 22, 2021

High yield spreads have stopped going down.

 

 

 

*** 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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KLA Corp. (NASD:KLAC) Seasonal Chart

Marathon Petroleum Corp. (NYSE:MPC) Seasonal Chart

Big 5 Sporting Goods Corp. (NASD:BGFV) Seasonal Chart

NetGear, Inc. (NASD:NTGR) Seasonal Chart

Entravision Communications Corp. (NYSE:EVC) Seasonal Chart

Ormat Technologies Inc. (NYSE:ORA) Seasonal Chart

NACCO Industries, Inc. (NYSE:NC) Seasonal Chart

Empire State Realty Trust Inc. (NYSE:ESRT) Seasonal Chart

 

 

The Markets

Stocks closed mixed on Tuesday as investors remain skittish going into the FOMC announcement on Wednesday.  The S&P 500 Index slipped by just less than an tenth of one percent, continuing to struggle below the 50-day moving average that was definitively broken during the Monday session.  The benchmark continues to hold above the 100-day moving average, a logical level for the bulls to try to defend.  Momentum indicators have given up their characteristics of a bullish trend after falling below their middle lines in the past couple of days.  So far, the activity is still typical and expected through this notoriously weak/volatile month of September and the opportunities on the flip-side continue to look promising.

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

• Major levels of horizontal support holding back precipitous selling pressures in the market
• Addressing questions of whether we have reached a significant peak in the market and whether the sustained strength is over
• One signal that may indicate when our opportunity to buy stocks has arrived
• Yield spreads have stopped going lower and the level that would indicate concern for the credit and equity markets
• The increasing size of the Fed’s balance sheet
• US Housing Starts and how to play the trends in the housing market

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Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.89.

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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