Pre-opening Comments for Wednesday September 2^nd

U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points at 8:30 AM EDT.

Dell Computer (DELL) added $41.10 to $466.18 after reporting higher than consensus fiscal second quarter results. The company also issued positive guidance.

Gitlab (GTLB) added $6.91 to$52.00 after reporting higher than consensus second quarter results.

Alphabet (GOOG) added $2.22 to $334.25 prior to launch of a new Gemini model today.

MongoDB (MDB) dropped $53.69 to $380.01 despite reporting higher than consensus second quarter results.

EquityClock’s Market Outlook for September 2^nd

Oil and energy stocks slated to remain abnormally supported heading into the fall, threatening upside pressures in the cost of borrowing. See:

https://equityclock.com/2026/09/01/stock-market-outlook-for-september-2-2026/

Technical Notes

Agribusiness ETF (MOO) moved above $85.56 to a four year high extending an intermediate uptrend. Responded to higher grain prices!

Solar ETF (TAN) moved below $47.26 completing a modified Head & Shoulders pattern extending an intermediate downtrend.

Dow Jones Transportation iShares (IYT) moved below $83.75 completing a double top pattern.

Caterpillar (CAT) a Dow Jones Industrial Average stock moved below $776.00 setting an intermediate downtrend.

Home Depot (HD) a Dow Jones Industrial Average stock moved below $323.05 completing a double top pattern.

Marriott (MAR) an S&P 100 stock moved below $340.12 completing a modified Head & Shoulders pattern.

Other S&P 100 and NASDAQ 100 stocks breaking support extending an intermediate downtrend included Analog Devices (ADI) moved below $351.66, KLA Corp (KLAC) on a move below $169.62, Microchip Technology (MCHP) on a move below $70.81, NXP Semiconductor (NXPI on a move below $242.29 and Lowe’s (LOW) on a move below $199.40.

BMO Equal Weight ETF (ZEO.TO) moved above Cdn$113.03 to an all-time high. Leading the advance were Canadian Natural Resources (CNQ.TO) on a move above Cdn$70.24 to an all-time high and Suncor (SU.TO) on a move above Cdn$95.89 to an all-time high.

Trader’s Corner

Equity Indices and Related ETFs

Commodities

Sectors

Links offered by valued providers

If the S&P Breaks 7600, Everything Changes: Dave Keller

If the S&P Breaks 7600, Everything Changes – YouTube

Rough Patch Ahead? Trading Places Live! September 1, 2026: Tom Bowley

(Note comments on 10 year Treasury Yields)

Rough Patch Ahead? Trading Places Live! September 1, 2026 – YouTube

The September setup: The Investment Committee’s strategy: CNBC

The September setup: The Investment Committee’s strategy – YouTube

Yields Spike Triggering Investor Fear, Gold Slammed Again, Oil Potential Breakout On Tanker Strikes: Verified Investing

Yields Spike Triggering Investor Fear, Gold Slammed Again, Oil Potential Breakout On Tanker Strikes – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped another 3.80 to 48.80. It remained Neutral. Daily downtrend was extended.

The short term (20 days) Barometer dropped another 7.00 to 33.20. It changed from Neutral to Oversold on a drop below 40.00. Daily downtrend was extended.

The long term (200 days) Barometer dropped another 2.80 to 65.40. It remained Overbought. Daily downtrend was extended.

TSX Momentum Barometers

The intermediate term Barometer dropped 5.05 to 48.62. It remained Neutral. Daily downtrend was extended.

The short term (20 days) Barometer dropped another 12.84 to 31.19. It changed from Neutral to Oversold on a move below 40.00. Daily downtrend was extended.

The long term Barometer dropped 5.05 to 62.84. 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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