Pre-opening Comments for Tuesday September 1^st

U.S. equity index futures were lower this morning. S&P 500 futures were down 46 points at 8:30 AM EDT. Futures responded to a $2.00 increase in WTI crude oil prices to $87.76 per barrel.

Medtronic added $3.85 to $94.50 after reporting higher than consensus fiscal first quarter results

Marvell Technology dropped $6.21 to $205.45 after reporting less than consensus second quarter results.

EquityClock’s Market Outlook for September 1^st

This other energy commodity is looking enticing heading into its period of seasonal strength. See:

https://equityclock.com/2026/08/31/stock-market-outlook-for-september-1-2026/

Technical Notes

U.S. Airline ETF (JETS) moved below $29.01 completing a double top pattern. Responded to higher crude oil prices!

S&P Builders ETF (XHB) moved below $103.12 setting an intermediate downtrend.

Pfizer (PFE) a Dow Jones Industrial Average stock moved above $27.79 completing a long term reverse Head & Shoulders pattern.

Schlumberger (SLB) an S&P 100 stock moved above $58.51 to an eight year high extending an intermediate uptrend.

MMM (MMM) a Dow Jones Industrial Average stock moved below $173.20 completing a double top pattern.

General Dynamics (GD) an S&P 100 stock moved below $374.04 completing a double top pattern.

Trader’s Corner

Equity Indices and Related ETFs

Commodities

Sectors

Links offered by valued providers

The markets could rally ‘very strongly’ if the Fed holds rates in September: Fundstrat’s Tom Lee

The markets could rally ‘very strongly’ if the Fed holds rates in September: Fundstrat’s Tom Lee – YouTube

Middle East Escalation Triggers Oil Surge, Investor Worry Over Yields, Bitcoin, Gold, Stocks: Verified Investing

Middle East Escalation Triggers Oil Surge, Investor Worry Over Yields, Bitcoin, Gold, Stocks – YouTube

The Bond Market Is Sniffing Out What the Fed Won’t Say: Guy Adami and Dan Nathan

https://www.youtube.com/watch?v=nSkGxZkiO9k

S&P 500 Momentum Barometers

The intermediate term (50 days) Barometer dropped 3.00 to 50.60. It remained Neutral. Daily downtrend was extended.

The short term (20 days) Barometer dropped 3.60 to 40.20. It remained Neutral. Daily downtrend was extended.

The long term (200 days) Barometer dropped 2.80 to 68.20. It remained Overbought. Daily downtrend was extended.

TSX Momentum Barometers

The intermediate term Barometer dropped 1.38 to 53.67. It remained Neutral. Daily downtrend was extended.

The short term (20 days) Barometer dropped 3.21 to 44.04. It remained Neutral. Daily downtrend was extended.

The long term Barometer (200) days dropped 1.38 to 67.89. It remained Overbought. Daily downtrend was extended.

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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