Pre-opening Comments for Friday September 15th
Equity index futures were mixed this morning. S&P 500 futures were down 1 point at 8:35 AM EDT.
S&P 500 futures slipped 3 points following release of the September Empire State Manufacturing Survey at 8:30 AM EDT. Consensus was a recovery to -10.00 from -19.00 in August. Actual was a recovery to +1.9.
Today is “quadruple witching” day, the last trading day for listed September equity and index options and futures.
Adobe dropped $11.88 to $541.99 after reporting less than consensus fiscal third quarter earnings.
Nucor fell $4.53 to $161.00 after lowering guidance on third quarter results.
Copart added $0.54 to $44.85 after reporting higher than consensus fiscal fourth quarter earnings.
General Motors slipped $0.09 to $33.57 and Ford dropped $0.10 to $12.52 after the United Autoworkers went on strike last night.
EquityClock’s Daily Comment
Headline reads “The weakest, most volatile, time of the year for stocks is directly ahead”.
https://equityclock.com/2023/09/14/stock-market-outlook-for-september-15-2023/
Technical Notes
Metals & Mining SPDRs $XME moved above $54.05 extending an intermediate uptrend.
Gasoline ETN $UGA moved above $75.43 extending an intermediate uptrend.
Exxon Mobil $XOM a Dow Jones Industrial Average stock moved above $117.92 to an all-time high extending an intermediate uptrend.
AbbVie $ABBV an S&P 100 stock moved above $153.60 extending an intermediate uptrend.
Metlife $MET an S&P 100 stock moved above $64.67 extending an intermediate uptrend.
AT&T $T an S&P 100 stock moved above $15.11 completing a double bottom pattern. The company offered positive guidance.
T Mobile $TMUS a NASDAQ 100 stock moved above $142.84 extending an intermediate uptrend.
Teck Resources $TECK.B.TO a TSX 60 stock moved above intermediate resistance at Cdn$59.01.
Trader’s Corner
Equity Indices and Related ETFs
Daily Seasonal/Technical Equity Trends for September 14th 2023
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 14th 2023
Green: Increase from previous day
Red: Decrease from previous day
Sectors
Daily Seasonal/Technical Sector Trends for September 14th 2023
Green: Increase from previous day
Red: Decrease from previous day
Links offered by valued providers
Stocks Choppy After CPI Report | Tom Bowley | Trading Places (09.14.23
Stocks Choppy After CPI Report | Tom Bowley | Trading Places (09.14.23) – YouTube
Growth & Energy LEAD as S&P Chops Around | GoNoGo Charts (09.14.23)
Growth & Energy LEAD as S&P Chops Around | GoNoGo Charts (09.14.23) – YouTube
Charting Forward: Q3 Market Outlook (09.14.23)
Charting Forward: Q3 Market Outlook (09.14.23) – YouTube
S&P 500 Momentum Barometers
Intermediate term Barometer added 6.80 to 40.40. It changed from Oversold to Neutral on a recovery above 40.00.
The long term Barometer added 4.20 to 55.60. It remains Neutral.
TSX Momentum Barometers
The intermediate term Barometer advanced 12.83 to 57.08. It remains Neutral.
The long term Barometer added 4.42 to 52.65. It remains Neutral.
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
|
|
Equity Clock Publications