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Market Insights

Bringing you the trading news around the world.

Fed Worries Ease Before Earnings: Market Trends This Week

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Downloads are available here. TradeStation’s ideas on TradingView are available here.

Register for Market Trends here.

Sizing Up the S&P 500

  • S&P 500 reclaims August 2022 high following payrolls bullish outside day
  • MACD turns positive
  • More S&P 500 members above 20-day MA than 50-day MA

Key News

  • FedSpeak: Officials shy away from more hikes after jump in 10-year Treasury yield
    • NAHB, NAR, MBA urge Powell to stop hikes
  • Sept PPI higher than expected (headline & core)
  • Lipper: ESG funds had record outflows in Q3
  • Jim Cramer of CNBC: Bull market in cybersecurity stocks like PANW, CRWD, OKTA, ZS
  • Dan Ives of Wedbush: “Massive” tech rally coming
  • IMF raises U.S. GDP estimate for 2023 and 2024
  • AAR: Weekly rail traffic starting to rise y-o-y from 2022
  • Morningstar: Private labels gaining market share over traditional brands
  • “Goldilocks” September jobs report: Wages lower than forecast, unemployment unexpectedly stays high
SPDR S&P 500 ETF (SPY) with key indicators and patterns.

Sector Watch

  • Communications replaces tech as leading sector YTD
  • Weak-dollar stocks rebound: Global, precious metals
  • Chinese tech stocks, semiconductors regain relative strength
  • Electronic manufacturing stocks continue stealth rally: CLS, JBL
  • Financial exchanges outperform in the last 3 months: CME, CBOE
  • Pharmaceuticals quietly running: LLY, AMGN, NVO, VRTX

Signals Scan

  • Cyclical sectors: potential resistance at previous lows
    • XLI: June 23 low around $103
    • XLF: August 22 low around $33.60
    • XLB: July 6 low around $79
  • Walt Disney (DIS): Potentially overbought above 50-day MA
  • Valero Energy (VLO): Potentially holding 200-day MA
  • Lockheed Martin (LMT) potentially overbought following jump

Mover of the Week: Stellantis

  • Maker of Jeep, Dodge, Citroen, etc. outperforming General Motors (GM), Ford Motor (F) in 2023
  • Earnings on July 26 showed potential transition to EVs
    • Indiana battery plant announced yesterday
  • Unlike GM/F, STLA has a net cash position (more cash than debt)
  • STLA +41% YTD
  • Shipments / revenue to be reported Oct. 31

Upcoming Events

Earnings season ramps, housing data next week.

  • Tomorrow (10/13): Consumer sentiment
    • Earnings: JPM, C, WFC, UNH
  • Tue (10/17): Retail sales, NAHB index
    • Earnings: BAC, GS, JNJ, UAL
  • Wed (10/18): Housing starts, crude-oil inventories
    • Earnings: NFLX, MS, UBS, DFS, LRCX

Using the Platform: Earnings dates

  • RadarScreen: Studies → Add Study… → Next Earnings Date RS
  • Chart Analysis: Studies → Add Study… → Next Earnings Studies – Next Earnings Date

Standardized Performances for ETF mentioned above

ETF1 Year5 Years10 Years
SPDR S&P 500 ETF (SPY)+19.68%+47.04%+154.44%

As of Sept. 29, 2023. Based on TradeStation Data.

Security futures are not suitable for all investors. To obtain a copy of the security futures risk disclosure statement Investment and Trading Disclosures Booklet – Futures. Exchange Traded Funds (“ETFs”) are subject to management fees and other expenses. Before making investment decisions, investors should carefully read information found in the prospectus or summary prospectus, if available, including investment objectives, risks, charges, and expenses. Click here to find the prospectus.

Options trading is not suitable for all investors. Your TradeStation Securities’ account application to trade options will be considered and approved or disapproved based on all relevant factors, including your trading experience. See Characteristics and Risks of Standardized Options.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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