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September 21, 2024 | Tech Talk for Saturday September 21st 2024

Don Vialoux

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Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at www.timingthemarket.ca. Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

All-time highs were recorded by the S&P 500 and TSX Composite Index following the FOMC’s decision to lower its Fed Fund Rate by 0.50%. Positive technical action following the decision contributed to strength. “Risk on” sectors (technology, materials, industrials and Consumer Discretionary) led the advance.

History calls for a volatile/mixed trend for North American equity prices during Presidential Election years from mid-September until mid-October. Recent polls from key swing states show a “dead heat” for election of the President and control over the Senate and House of Representatives.

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September 21st, 2024

Posted In: Tech Talk

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