Pre-opening Comments for Tuesday September 24^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points at 8:30 AM EDT.

Chinese equity ETFs added 4% after the Chinese government announced a monetary stimulus package intended to revive the economy.

Biogen gained $3.25 to $199.06 after announcing positive results for a lupus treatment.

Thor Industries dropped $2.41 to $100.78 after the company lowered its annual guidance.

AutoZone dropped $58.81 to $2,990.00 after reporting less than consensus fourth quarter revenues and earnings.

 

EquityClock’s Stock Market Outlook for September 24^th

 

In this risk averse market, you can still energize your portfolio with plays in Uranium and Natural Gas. See:

https://equityclock.com/2024/09/23/stock-market-outlook-for-september-24-2024/

 

Technical Notes

Natural gas prices spike higher in U.S and Canadian dollars in anticipation of tropical storm Helene entering the natural gas production areas in the Gulf of Mexico.

Emerging Markets iShares $EEM moved above US$43.92 setting an intermediate uptrend.

U.S. Aerospace & Defense iShares $ITA moved above $148.05 to an all-time high extending an intermediate uptrend.

First Trust Internet ETF $FDN moved above $210.44 extending an intermediate uptrend.

MMM $MMM an S&P 100 stock moved above $134.99 extending an intermediate uptrend.

Linde $LIN an S&P 100 stock moved above $478.38 to an all-time high extending an intermediate uptrend.

 

Trader’s Corner

Quieter than normal day!

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for September 23^rd 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 23^rd 2024

Green: Increase from previous day

Red: Decrease from previous day

 

Sectors

Daily Seasonal/Technical Sector Trends for September 23^rd 2024

Green: Increase from previous day

Red: Decrease from previous day

 

Links offered by valued providers

Strategy After Rate Cuts: Best Areas to BUY! Mary Ellen McGonagle

Strategy After Rate Cuts: Best Areas to BUY! – YouTube

 

Tech & Auto Downgrades: PLTR, MSFT, GM: Schwab Network

Tech & Auto Downgrades: PLTR, MSFT, GM – YouTube

 

Weekly Update with Larry Berman – September 21, 2024

Weekly Update with Larry Berman – September 21, 2024 – YouTube

 

S&P 500 Momentum Barometers

The intermediate term Barometer added 2.00 to 81.00. It remains Overbought.

The long term Barometer added 0.80 to 77.40. It remains Overbought.

 

TSX Momentum Barometers

The intermediate term Barometer added 0.44 to 74.78. It remains Overbought.

The long term Barometer was unchanged at 76.99. 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

More from the network: Stock Market Outlook for September 24, 2024 Stock Market Outlook for September 23, 2024 Stock Market Outlook for September 20, 2024 Stock Market Outlook for September 19, 2024 Stock Market Outlook for September 18, 2024