Pre-opening Comments for Thursday September 15th
U.S. equity index futures were mixed this morning. S&P 500 futures were up 1 point at 7:30 AM EDT.
A tentative labour agreement between railway companies and their unions was reached this morning.
A series of U.S. economic news is scheduled to be released before the opening today
August Retail Sales released at 8:30 AM EDT are expected to increase 0.5% versus a gain of 0.8% in July. Excluding auto sales, August Retail Sales are expected to increase 0.2% versus a gain of 0.4% in July.
September Empire State Manufacturing Survey released at 8:30 AM EDT is expected to improve to -13.90 from -31.30 in August.
September Philly Fed Index released at 8:30 AM EDT is expected to slip to 3.5 from 6.2 in August.
August Capacity Utilization released at 9:15 AM EDT is expected to be unchanged from July at 80.3%. August Industrial Production is expected to increase 0.2% versus a gain of0.6% in July.
Danaher advanced $12.27 to $294.00 after announcing plans to spin off its environmental unit.
![clip_image001[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2022/09/clip_image0011-7.png "clip_image001[1]")
Arconic plunged $2.48 to $23.05 after lowering second half revenue and earnings guidance.
![clip_image002[1]](https://timingthemarket.ca/techtalk/wp-content/uploads/2022/09/clip_image0021-9.png "clip_image002[1]")
EquityClock’s Daily Comment
Headline reads “Forget energy and focus on this energy alternative trade that is breaking out to fresh all-time highs within its optimal holding period”.
http://www.equityclock.com/2022/09/14/stock-market-outlook-for-september-15-2022/
Upcoming Event…
Using Seasonality to Determine Where We Are in the Economic Cycle (Recession)? and How to Invest
Saturday, September 17, 2022 | 3:00 pm – 3:45 pm EDT
Some leading indicators are hinting that we are on the path towards an economic recession, traditionally an ideal time to abandon risk in portfolios. Jon Vialoux will show you what he’s looking at and how to best position your portfolio using seasonal analysis.
Click on the following registration link to book your FREE spot to our presentation: Register Now
Technical Notes for yesterday
Starbucks $SBUX a Dow Jones Industrial Average stock moved above $89.93 extending an intermediate uptrend.
O’Reilly Automotive $ORLY a NASDAQ 100 stock moved below $692.29 setting an intermediate downtrend.
Chart of the day
Technical score for Natural Gas increased from 0 to 4 when units moved above their 20 day moving average and strength relative to the S&P 500 Index changed from Negative to Neutral. In addition, the three daily momentum indicators (Stochastics, RSI and MACD) are trending higher and seasonal influences remain positive to October 31st
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for September 14th 2022
Green: Increase from previous day
Red: Decrease from previous day
Commodities
Daily Seasonal/Technical Commodities Trends for September 14th 2022
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 14th 2021
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Mark Bunting and www.uncommonsenseinvestor.com offered the following links
Five Strategies for 60/40 Investors – Uncommon Sense Investor
Greg Schnell discusses “Flip Flopping Markets”
Flip Flopping Markets | Greg Schnell, CMT | Market Buzz (09.14.22) – YouTube
S&P 500 Momentum Barometers
The intermediate term Barometer slipped 0.80 to 38.80 yesterday. It remains Oversold.
The long term Barometer slipped 0.40 to 31.60 yesterday. It remains Oversold.
TSX Momentum Barometers
The intermediate term Barometer was unchanged yesterday at 55.70. It remains Neutral.
The long term Barometer added 2.11 to 36.71 yesterday. It remains Oversold.
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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September 15th, 2022 at 9:33 am
the AAII bullish members were 26.1% this past week up from 18.1% previously but still unusually low….75% of those surveyed were before the Tuesday rout…..the bears dropped to 46.0% from 53.3% also unusually high….
September 15th, 2022 at 10:20 pm
I suspect that we will eventually see the June lows violated, and all NA indexes will slowly grind lower….. I am waiting for the “capitulation low” which will clear the air and announce a new Bull Market. This will be this year or next. Keeping lots of powder dry until then….It will be a gift for those with patience and fortitude to act when it comes. Buy when you are afraid, sell when greedy.
https://www.americanbulls.com/SignalPage.aspx?lang=en&Ticker=SPY
September 16th, 2022 at 7:36 am
The CEO of FedEx is someone I definitely take seriously on having the pulse of world economic activity.
https://www.cnbc.com/2022/09/15/fedex-ceo-says-he-expects-the-economy-to-enter-a-worldwide-recession.html
September 16th, 2022 at 2:34 pm
The Weekly $SPX is reducing its extreme overbought readings with its choppy sideways price action this year in 2022. Still needs a good wash out and uptrendline test to suggest a significant bottom is in. Only possible positive right now short term is price which has had a history of respecting its 200ema is not all that far away from its 200ema. A test and bounce off of it would be typical. Nothing to hold our breath for though……………..
https://stockcharts.com/h-sc/ui?s=%24SPX&p=W&yr=20&mn=0&dy=0&id=p10989302272&a=673066405