Library Archive
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- Markets traded broadly lower on September 9. The Russell 2000 Index ([RUT]) declined 1.32%, while the iShares MSCI EAFE ETF ([EFA]) and the S&P 500 Equal Weight Index ([SPEWI]) fell 1.11% & 0.97%, respectively.
- The Percent of S&P 500 Stocks on Point & Figure Buy Signals ([^PTSPX]) reversed back into a column of Os over the past week, signaling a deterioration in market participation. Despite the pullback, the indicator remains above 60%, indicating that a clear majority of S&P 500 constituents continue to trade in a positive trend.
- As investors await the next inflation report, futures markets are pricing in a greater than 60% probability of a rate hike at the September 16 FOMC meeting. Looking further ahead, the December 9, 2026 FOMC meeting currently reflects a 50% probability of an additional rate increase.
- A few major stocks that are expected to report earnings this month include: Micron Technology Inc. ([MU 5/5 TA) on 9/30, Oracle Corporation ([ORCL] 1/5 TA) on 9/10, and Costco Wholesale Corporation ([COST] 3/5 TA) on 9/24.
- Yesterday's research piece highlighted ongoing weakness within the retail sector. The State Street SPDR S&P Retail ETF ([XRT]) generated a sell signal earlier this month and currently carries a weak Fund Score of 2.22, reflecting continued relative strength concerns.
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