Equity Clock

Stock Market Outlook for September 30, 2021

Commodities in focus as the US Dollar breaks out.

 

 

 

*** 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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Kelly Services, Inc. (NASD:KELYA) Seasonal Chart

Universal Technical Institute, Inc. (NYSE:UTI) Seasonal Chart

PDF Solutions, Inc. (NASD:PDFS) Seasonal Chart

First Trust BICK Index Fund (NASD:BICK) Seasonal Chart

Silvercrest Asset Management Group Inc. (NASD:SAMG) Seasonal Chart

 

 

The Markets

Stocks closed mixed on Wednesday as portfolio managers continue to rebalance portfolios into the end of the quarter.  The S&P 500 Index gained just less than two-tenths of one percent, continuing to hold support at the rising 100-day moving average.  Resistance at the lower limit of the previous rising 200-point trend channel, as well as the declining 20-day moving average, was confirmed on Tuesday, providing a barrier to the short-term path of the market.  Momentum indicators have relinquished their bullish characteristics that they had maintained all year with the Relative Strength Index (RSI) and MACD gyrating below their middle lines.

To be released…

We are busy placing the final touches on our monthly report for October, providing you with everything you need to know for the month(s) ahead.  Subscribers can look out for this report in their inbox on Thursday.

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

• The end of the weakest two-week period of the year for stocks and the hints that the VIX is providing
• Breakout in the US Dollar and how this compares to seasonal norms
• Breakdown in Silver and when is the next opportunity to buy
• Copper and what the price action of the commodity relative to stocks and Gold have to say about the strength of the industrial metal, the strength in the market, and the strength in the economy
• US Oil inventories and the price of Oil

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Sentiment on Wednesday, as gauged by the put-call ratio, ended slightly bullish at 0.94.

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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