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US MARKETS Tuesday, September 22, 2020
  Our Preferred Strategy for Today's Spotlight Stocks: ORCL, MET, IJS, IEV, SINA, MU, KSS, UA
Oracle (ORCL)  60.8: the upside prevails as long as 60.22 is support.
Metlife (MET)  37.4: the downside prevails as long as 38.03 is resistance.
iShares S&P SmallCap 600 Value (IJS)  121.7: the downside prevails as long as 128 is resistance.
iShares S&P Europe 350 (IEV)  42.0: under pressure below 43.2.
Sina Corp (SINA)  40.2: as long as 39.3 is support look for 42.
Micron Technology (MU)  49.2: the upside prevails as long as 45.5 is support.
Kohl's (KSS)  21.5: rise towards 27.7.
Under Armour (UA)  9.4: rise towards 11.96.
  Indices Last   %1D   %5D   %1M  
  S&P 500 3,281.1   -1.16   -3.03   -3.42   
  S&P 100 1,519.4   -0.73   -3.04   -3.97   
  Dow Jones 27,147.7   -1.84   -3.02   -2.80   
  Dow Jones Transportation 11,129.5   -2.65   -2.21   +1.73   
  Dow Jones Utility 793.7   -0.53   -2.12   -1.96   
  Nasdaq Composite 10,778.8   -0.13   -2.51   -4.71   
  NYSE Arca Major Market 2,412.2   0.00   -3.02   -1.99   
  NYSE Composite 12,561.8   0.00   -3.13   -1.93   
  Russell 2000 1,485.3   -3.35   -3.37   -4.33   
  10-Year US T-note 6.7   -3.31   0.00   +4.84   
  Comments
US indices closed down on Monday, pressured by the Automobiles & Components (-4.81%), Capital Goods (-4.01%), Materials (-3.41%) sectors.

Approximately 61.4% of stocks in the S&P 500 Index were trading above their 200-day moving average and 41.0% were trading above their 20-day moving average. The VIX Index jumped 1.98pt (+7.67%) to 27.81, while Gold dropped $38.09 (-1.95%) to $1912.77, and WTI Crude Oil fell $1.43 (-3.48%) to $39.68 at the close.

On the US economic data front, no major economic data was released.

On Tuesday, Existing Home Sales for August are expected to increase to 6.00 million on month, from 5.86 million in July.

Technical Recap of Today's Picks
  Intraday Strategies
Oracle intraday: the upside prevails as long as 60.22 is support
60.22 is our pivot point.

Our preference: the upside prevails as long as 60.22 is support.

Alternative scenario: below 60.22, expect 59.46 and 59.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Oracle is above its 20 and 50 period MA (respectively at 60.43 and 60.23).

Chart
MetLife intraday: the downside prevails as long as 38.03 is resistance
Our pivot point is at 38.03.

Our preference: the downside prevails as long as 38.03 is resistance.

Alternative scenario: the upside breakout of 38.03, would call for 38.8 and 39.26.

Comment: the RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. MetLife stands below its 20 and 50 period MA (respectively at 38.17 and 38.52).

Chart
  Short Term Strategies
iShares S&P SmallCap 600 Value ST: below its lower Bollinger band
Our pivot point stands at 128.

Our preference: the downside prevails as long as 128 is resistance.

Alternative scenario: the upside breakout of 128 would call for 132.6 and 135.4.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the share stands below its 20 and 50 day MA (respectively at 128.75 and 127.57). Finally, iShares S&P SmallCap 600 Value is trading below its lower daily Bollinger band (standing at 123.05).

Chart
iShares S&P Europe 350 ST: below its lower Bollinger band
Our pivot point is at 43.2.

Our preference: under pressure below 43.2.

Alternative scenario: above 43.2, look for 44.5 and 45.3.

Comment: the RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the share stands below its 20 and 50 day MA (respectively at 43.33 and 43.04). Finally, iShares S&P Europe 350 has penetrated its lower daily Bollinger band (42.34).

Chart
Sina Corp ST: as long as 39.3 is support look for 42
Our pivot point stands at 39.3.

Our preference: as long as 39.3 is support look for 42.

Alternative scenario: the downside breakout of 39.3 would call for 38.4 and 38.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The stock could retrace in the short term. Moreover, the stock is trading under its 20 day MA (40.37) but above its 50 day MA (40.18).

Chart
Micron Technology ST: gap
Our pivot point stands at 45.5.

Our preference: the upside prevails as long as 45.5 is support.

Alternative scenario: the downside breakout of 45.5 would call for 42.4 and 40.6.

Comment: the RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the stock is trading above both its 20 and 50 day MA (respectively at 46.82 and 48.04).

Chart
Kohl's ST: gap
Our pivot point is at 19.5.

Our preference: rise towards 27.7.

Alternative scenario: the downside breakout of 19.5 would call for 17.1 and 15.6.

Comment: the RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the stock is below its 20 day MA (21.9) but above its 50 day MA (21.43).

Chart
Under Armour ST: gap
8.43 is our pivot point.

Our preference: rise towards 11.96.

Alternative scenario: the downside breakout of 8.43 would call for 7.31 and 6.65.

Comment: the RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the stock is below its 20 day MA (9.37) but above its 50 day MA (9.24).

Chart
Sector Performance vs. S&P 500  - Find out which ETF sectors are performing the best and worst against the S&P 500.
1 day relative performance (%)
Sector Ticker Last %Chg SPY
Technology XLK 112.44 0.61 1.74
Consumer Staples XLP 62.83 -1.35 -0.24
Utilities XLU 57.66 -1.47 -0.36
Consumer Discretionary XLY 141.51 -1.65 -0.55
Health Care XLV 103.18 -2.24 -1.14
Financial XLF 23.93 -3.04 -1.95
Industrial XLI 75.87 -3.69 -2.61
Materials XLB 63.21 -3.82 -2.74
Energy XLE 31.97 -4.88 -3.81
5 day relative performance (%)
Sector Ticker Last %Chg SPY
Technology XLK 112.44 -2.51 0.92
Energy XLE 31.97 -2.74 0.68
Health Care XLV 103.18 -2.74 0.67
Consumer Staples XLP 62.83 -3.44 -0.05
Utilities XLU 57.66 -3.48 -0.09
Industrial XLI 75.87 -3.55 -0.16
Consumer Discretionary XLY 141.51 -4.14 -0.77
Materials XLB 63.21 -4.24 -0.88
Financial XLF 23.93 -4.47 -1.11
1 month relative performance (%)
Sector Ticker Last %Chg SPY
Materials XLB 63.21 2.13 6.04
Industrial XLI 75.87 -0.76 3.04
Financial XLF 23.93 -1.56 2.2
Consumer Staples XLP 62.83 -2.29 1.45
Utilities XLU 57.66 -2.96 0.75
Consumer Discretionary XLY 141.51 -3.19 0.51
Health Care XLV 103.18 -3.41 0.29
Technology XLK 112.44 -4.66 -1.02
Energy XLE 31.97 -11.27 -7.87
Stocks performance within sectors  - Find out which stocks are performing the best and worst within the ETF sectors.
1 day relative performance (%)
Technology (XLK) Ticker Last %Chg vs sector
Advanced Micro D. AMD 77.9 4.02 3.39
Nvidia NVDA 501 2.69 2.07
IPG Photonics Co. IPGP 158 -5.64 -6.21
DXC Technology DXC 17.3 -6.18 -6.74
Financial (XLF)
MarketAxess Hold. MKTX 443 0.99 4.15
Allstate ALL 92.0 0.82 3.98
Discover Financi. DFS 55.0 -6.79 -3.87
Invesco IVZ 10.2 -6.92 -4
5 day relative performance (%)
Technology (XLK) Ticker Last %Chg vs sector
Keysight Technol. KEYS 97.8 3.79 6.46
Global Payments GPN 176 3.16 5.81
NetApp NTAP 41.4 -8.79 -6.45
DXC Technology DXC 17.3 -14.21 -12.01
Financial (XLF)
Arthur J Gallagh. AJG 104 1.46 6.21
Progressive PGR 97.4 1.14 5.88
Huntington Bancs. HBAN 9.2 -9.49 -5.25
Lincoln National LNC 31.5 -10.75 -6.58
1 month relative performance (%)
Technology (XLK) Ticker Last %Chg vs sector
Micron Technolog. MU 49.2 15.21 20.85
Oracle ORCL 60.8 10.2 15.59
Arista Networks ANET 195 -12.34 -8.05
F5 Networks FFIV 118 -12.97 -8.71
Financial (XLF)
Discover Financi. DFS 55.0 10.99 12.76
Synchrony Financ. SYF 25.9 8.32 10.04
State Street STT 59.9 -11.3 -9.89
MarketAxess Hold. MKTX 443 -11.37 -9.96
Candlestick patterns
They can provide a good indication of investor psychology at a certain time. Some patterns can consist of one or a combination of candles and can be used to spot reversal patterns.
Bullish Patterns
Name Ticker Last %Chg Candlestick Inv.
AbbVie ABBV 89.09 -1.13 Hammer 87.17
Accenture ACN 233.91 -0.96 Hammer 230.03
Adobe ADBE 475.64 1.73 Piercing line 460.31
Allstate ALL 92.03 0.82 Piercing line 90.04
Alphabet GOOGL 1430.14 -1.44 Hammer 1402.68
Chevron CVX 76.3 -2.44 Hammer 74.68
Costco Wholes. COST 339.57 1.07 Piercing line 333.97
Danaher DHR 205.81 -0.24 Hammer 201.56
Bearish Patterns
Charter Commu. CHTR 614.34 -0.07 Evening star 628.3
UnitedHealth . UNH 299.19 -2.87 Evening star 310.39
Neutral Patterns
Blackrock BLK 552.59 -0.78 Harami 559.16
 
Technical alerts
They are based on mathematical indicators and can be used to determine change of trend or market acceleration. They are based on the following indicators: 20D & 50D moving average, 20D Bollinger bands, 14D RSI and MACD.
Bullish Alerts
Name Ticker Last %Chg Signal
Bullish Alerts
General Motors GM 30 -4.76 20D MA cross under
Honeywell HON 161.37 -4.34 20D MA cross under
Bank of New York. BK 33.97 -4.04 Lower Bollinger cross under
AIG AIG 26.98 -3.61 Lower Bollinger cross under
Morgan Stanley MS 48.36 -3.43 Lower Bollinger cross under
General Dynamics GD 138.33 -3.26 Lower Bollinger cross under
Merck & Co MRK 83.13 -3.12 20D MA cross under
JPMorgan Chase JPM 95.31 -3.09 Lower Bollinger cross under
Bank of America BAC 24.47 -2.94 Lower Bollinger cross under
Johnson & Johnso. JNJ 145.1 -2.73 50D MA cross under
  Economic Releases
US 08:55: 09/19 Redbook YoY, exp.: -1.2%
US 08:55: 09/19 Redbook MoM, exp.: -1.6%
US 10:00: Sep Richmond Fed Manufacturing Idx, exp.: 18
US 10:00: Fed Evans speech
US 10:00: Jul Existing Home Sales MoM, exp.: 24.7%
US 10:00: Aug Existing Home Sales, exp.: 5.86M
US 10:30: Fed Chair Powell Testimony
US 11:30: 119-Day Bill auction
US 11:30: 42-Day Bill auction
US 13:00: 2-Year Note auction, exp.: 0.16%
US 16:30: 09/18 API Crude Oil Stock chg, exp.: -9.517M
  Corporate Events
Expected results today
Nike (NKE) Q1
Ex-dividends today
None
After Hours
No major after-hours news.


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All quotes are based on the closing price as of Monday, September 21, 2020



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