Below are highlights from the NDW Morning Update Video for the morning of 09/28/2026.
Below are highlights from the NDW Morning Update Video for the morning of 09/28/2026. Access the video on the NDW Morning Update Video page.
- Though crude oil (CL/) has rebounded slightly pre-market Monday due to a rejected ceasefire in the U.S.-Iran War over the weekend, the chart still currently maintains the column of Os it reversed into during Friday’s trading. The reversal lower puts a lower top in the default trend chart for the first time since rallying to the mid $100 range earlier in September. From here, support on the trend chart lies at $89, while the bullish support line sits at $85. Additionally, a move above $97 would return the commodity to a buy signal.
- Friday’s (9/25) trading saw interest rates continue higher, causing the iShares U.S. Core Bond ETF (AGG) to fall below $94.75, violating support from April 2024 at $59 and marking the lowest chart level since October 2023. AGG now resides below the bottom of the 10-week trading band and maintains its most oversold reading since late 2024.
- All U.S. equity indices were in positive territory following Friday’s (9/25) trading, with the Dow Jones Industrial Average (.DJIA) leading the way up 93 basis points. Monitoring the Russell 2000 Index (RUT) closely, as it gave a second sell signal during last week’s trading and is testing support at 2820, just above the bullish support line at 2800.
- The short-term indicator, the NYSE High Low Index (^NYSEHILO), has fallen to 16%, marking its lowest level since April 2025, suggesting a continued decrease in stocks making 52-week highs. The last time the High Low Index fell to single digits was in last 2023. Additionally, the bullish percent for the NYSE (^BPNYSE) now resides at its lowest level since April 2024 after falling to 38% to cap off last week’s trading. This highlights a continued decrease in stocks maintaining buy signals and it is worth noting, and the chart still sits well above the 18% April 2025 low.
- This week’s trading will focus on economic data as Personal Consumption Expenditure (PCE) data will be released Wednesday (9/30) and monthly jobs data will come out Friday (10/2). Notable earnings this week are discussed below.
- Micron Technology (MU) – Reports 9/30 – The stock has been a 5 for 5’er since reversing back into Xs on its market RS chart in mid-August. MU returned to a buy signal earlier this month, while last week’s trading kicked off with a second buy signal as shares have rallied to eclipse the $1100 range. Note the chart highs at $1248, while support can be found at $1056 and around the $900 range.
- Nike (NKE) Reports 10/1 – NKE has been a 0 for 5’er since breaking down notably in March this year. The summer months have brought additional downside action, with shares falling to the mid $30s and marking this lowest level since 2014. No near-term support resides nearby, while near-term resistance can be found in the mid to upper $40s.
