Pre-opening Comments for Wednesday September 16^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points at 8:35 AM EDT.

S&P 500 futures were unchanged following release of August Retail Sales at 8:30 AM EDT. Consensus called for a 0.8% increase versus a 0.6% drop in July. Actual was a 1.2% increase. Excluding auto sales, consensus called for 0.4% increase. Actual was a 1.4% increase.

Focus today is on news from the FOMC meeting released at 2:00 PM EDT. Consensus calls for a 0.25% increase in the Fed Fund Rate to 3.75%-4.00%.

Trip.com (TCOM) added $0.17 to $39.25 after reporting higher than consensus second quarter revenues and earnings.

Brookfield (BN.TO) slipped US$0.67 to $39.25 after offering a cash offer to purchase Reliance for A$4.75 per share. Value of the transaction is estimated at US$2.9 billion.

Intel added $3.16 to$100.30 on news that the company is in talks with SK Hynix to manufacturing computer chips in the U.S.

EquityClock’s Market Outlook for September 16^th

Risks to the foundation of the market heading into the FOMC event. See:

https://equityclock.com/2026/09/15/stock-market-outlook-for-september-16-2026/

Technical Notes

Aerospace and Defense ETF (PPA) moved below $159.12 extending an intermediate downtrend.

U.S. Real Estate iShares (IYR) moved below $98.70 extending an intermediate downtrend.

Goldman Sachs (GS) an S&P 100 stock moved below $972.93 completing a double top

Morgan Stanley (MS) an S&P 100 stock moved below $201.83 completing a double top pattern.

Exelon (EXC) a NASDAQ 100 stock moved below $44.46 extending an intermediate downtrend.

Synopsys (SNPS) a NASDAQ 100 stock moved below $366.00 and $365.74 extending a long term downtrend

National Bank (NA.TO) a TSX 60 stock moved below Cdn$208.18 extending an intermediate downtrend.

Dollarama (DOL.TO) a TSX 60 stock moved below Cdn$165.78 extending an intermediate downtrend.

Trader’s Corner

Equity Indices and Related ETFs

Commodities

Sectors

Links offered by valued providers

MRKT Call – Tuesday, September 15^th: Guy Adami, Dan Nathan and Carter Worth

MRKT Call – Tuesday, September 15th – YouTube

Trading Places Live, September 15, 2026: Tom Bowley

Trading Places Live, September 15, 2026 – YouTube

Growth Without AI: 4 Stocks with Compelling Charts: Dave Keller

Growth Without AI: 4 Stocks with Compelling Charts – YouTube

Dan Niles: We’re going into a rate hike cycle so don’t fight the Fed or the bond market

Dan Niles: We’re going into a rate hike cycle so don’t fight the Fed or the bond market – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 2.80 to 35.40. It remained Oversold.

The short term (20 days) Barometer dropped 2.00 to 24.20. It remained Oversold.

The long term Barometer dropped 2.80 to 56.20. Daily downtrend was extended. It remained Neutral.

TSX Momentum Barometers

The intermediate term Barometer dropped 2.76 to 42.86. It remained Neutral. Daily downtrend was extended.

The short term (20 days) Barometer dropped 4.15 to 26.73. It remained Oversold.

The long term Barometer dropped 2.77 to 53.00. It remained Neutral. 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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