Pre-opening Comments for Friday September 13^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points at 8:30 AM EDT.

Adobe dropped $53.55 to $533.00 after offering fiscal fourth quarter guidance below consensus.

Keurig Dr. Pepper added $0.95 to $38.00 after raising its quarterly dividend by 7%.

RH advanced $48.26 to $304.75 after issuing positive guidance on demand for home wares.

IBEX added $2.37 to $19.10 after reporting higher than consensus fiscal fourth quarter revenues and earnings.

 

EquityClock’s Stock Market Outlook for September 13^th

 

Gold has broken out of a short-term consolidation range, reaching new heights during its period of seasonal strength. See:

https://equityclock.com/2024/09/12/stock-market-outlook-for-september-13-2024/

 

Technical Notes

Gold SPDRs $GLD moved above $234.01 to an all-time high extending an intermediate uptrend. Gold bullion iShares moved above Cdn$20.10 to an all-time high extending an intermediate uptrend.

Kinross Gold $KGC a TSX 60 stock moved above US$9.55 to a 10 year high extending an intermediate uptrend.

India ETF $PIN moved above $30.32 to an all-time high extending an intermediate uptrend.

Intuitive Surgical $ISRG a NASDAQ 100 stock moved above $493.97 to an all-time high extending an intermediate trend.

 

Trader’s Corner

 

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 12^th 2024

Green: Increase from previous day

Red: Decrease from previous day

Source for all positive seasonality ratings: www.EquityClock.com

 

Commodities

Daily Seasonal/Technical Commodities Trends for September 12^th 2024

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for September 12^th 2024

Green: Increase from previous day

Red: Decrease from previous day

 

Links offered by valued providers

Does This Mean September Weakness is Over? | Profit Pilot

Does This Mean September Weakness is Over? | Profit Pilot – YouTube

 

Best Stocks for Income Investors to Buy (Dividend + Growth Stocks): Tom Bowley

Best Stocks for Income Investors to Buy (Dividend + Growth Stocks) – YouTube

 

Nvidia New Highs Ahead? Guy Adami, Dan Nathan and Carter Worth

Nvidia New Highs Ahead? – YouTube

 

Mike Wilson Reveals End of 2024 Outlook: Morgan Stanley with Guy Adami

Mike Wilson Reveals End of 2024 Outlook – YouTube

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 3.20 to 69.80. It remains Overbought.

The long term Barometer added 1.00 to 71.80. It remains Overbought.

 

TSX Momentum Barometers

The intermediate term Barometer jumped 10.62 to 64.16. It changed from Neutral to Overbought on a move above 60.00.

The long term Barometer added 4.61 to 70.35. It remains Overbought.

 

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed

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