Equity Clock

Stock Market Outlook for September 29, 2021

Large-cap benchmark confirming previous trend channel support as resistance.

 

 

 

*** 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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Companhia Vale do Rio Doce SA (NYSE:VALE) Seasonal Chart

Juniper Networks (NYSE:JNPR) Seasonal Chart

Regal-Beloit Corp. (NYSE:RBC) Seasonal Chart

Xperi Holding Corp (NASD:XPER) Seasonal Chart

Noah Holdings Ltd. (NYSE:NOAH) Seasonal Chart

CNH Industrial NV (NYSE:CNHI) Seasonal Chart

Invesco S&P 500 Equal Weight Materials ETF (NYSE:RTM) Seasonal Chart

 

 

The Markets

Stocks plunged on Tuesday as rate fears and ongoing mean reversion into the end of the quarter took a toll on technology stocks.  The S&P 500 Index closed down by just over 2%, moving back below its 50-day moving average and confirming previous trend channel support at 4465 as a level of resistance.  The benchmark is back testing support at the rising 100-day moving average, the hurdle that managed to entice buying demand last week.

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

• Downside risk that is foreseen of the market should support at the 100-day moving average break
• Semiconductor stocks
• US Home Prices
• Loan activity and how to play the fundamental trends
• US International Trade and what the data says about the desired exposure to pursue for the fourth quarter

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

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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