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Stock Market Outlook for September 19, 2022


Despite FedEx’s dire warning pertaining to the state of the economy (and shipping activity), Cass Information Systems is noting a significant rebound in shipping volumes in August compared to seasonal norms.

 

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.

Danaher Corp. (NYSE:DHR) Seasonal Chart

Danaher Corp. (NYSE:DHR) Seasonal Chart

Brady Corp. (NYSE:BRC) Seasonal Chart

Brady Corp. (NYSE:BRC) Seasonal Chart

Calian Group Ltd. (TSE:CGY.TO) Seasonal Chart

Calian Group Ltd. (TSE:CGY.TO) Seasonal Chart

Union Bankshares, Inc. (NASD:UNB) Seasonal Chart

Union Bankshares, Inc. (NASD:UNB) Seasonal Chart

ProShares UltraShort Silver (NYSE:ZSL) Seasonal Chart

ProShares UltraShort Silver (NYSE:ZSL) Seasonal Chart

PHX Energy Services Corp. (TSE:PHX.TO) Seasonal Chart

PHX Energy Services Corp. (TSE:PHX.TO) Seasonal Chart

Seagate Technology Holdings, Inc. (NASD:STX) Seasonal Chart

Seagate Technology Holdings, Inc. (NASD:STX) Seasonal Chart

Park Lawn Corp. (TSE:PLC.TO) Seasonal Chart

Park Lawn Corp. (TSE:PLC.TO) Seasonal Chart

 

 

The Markets

Stocks slipped on Friday following a stark earnings warning from economic bellwether, FedEx.  The S&P 500 Index closed down by seven-tenths of one percent, losing support at the pivotal 3900 level and breaking rising trendline support that had been derived from the lows in June.  Momentum indicators continue to push back lower with the Relative Strength Index (RSI) pressuring rising trendline support that has been in place for many months.  Characteristics of a bearish trend are starting to be readopted as a near-term trend of lower-lows and lower-highs keeps stocks under pressure.  The benchmark is hovering around the mid-point to its June/July consolidation range that led to the breakout summer rally that ran through the middle of August  The range that is in a position of support spans all the way from 3636 to 3900, a zone that we are still on the lookout for a higher-low above the June bottom to confirm the shift of the intermediate-term trend of stocks. 

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

  • The weakest time of the year for stocks and our thoughts on where the quarter mean reversion may play out
  • Weekly look at the large-cap benchmark
  • Comments on our equity exposure in the Super Simple Seasonal Portfolio
  • The lack of enthusiasm towards defensive segments of the market amidst a volatile tape
  • The downfall of FedEx (FDX)
  • The significant rebound in shipping volumes for August
  • Weekly jobless claims and the health of the labor market
  • Investor sentiment

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for September 19

Not signed up yet?  Subscribe now to receive full access to all of the research and analysis that we publish.

Sentiment on Friday, as gauged by the put-call ratio, ended bearish at 1.21. 

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Seasonal charts of companies reporting earnings today:

AutoZone, Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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