Hoping for Negative Seasonality, but Market's Not Holding Its Breadth

 | Sep 22, 2017 | 12:19 PM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

aapl

,

ntnx

,

sq

,

gbt

Historically, the week after option expiration in September is the worst-performing week of the year. That wasn't the case this year, but it may have been a record week for narrow trading. The major indices barely budged intraday, and we had the narrowest trading range ever in the S&P 500 on Tuesday. Even the Fed barely produced a reaction and North Korean bomb threats produce a yawn.

Bears are still hopeful that some negative seasonality may occur, but the small-caps have been holding up well and breadth has stayed positive despite the moribund indices. We have about 3900 gainers to 2600 decliners at the moment, although FANG names -- and Action Alerts PLUS holding Apple (AAPL) in particular -- are struggling.

Nutanix, Inc  (NTNX) , a pick from earlier this week, is moving out nicely on a big target from an analyst. Square, Inc  (SQ) , my stock of the week, has been consolidating after a good move on Monday, and still has good potential. Global Blood Therapeutics, Inc  (GBT) is a longer-term biotechnology holding and is trying to turn up out of a six-month base. I'll be watching for an entry point there.

I'd prefer some negative seasonality to this narrow trading range, but at least there still is some stock picking -- although it is limited.

Columnist Conversations

View Chart »  View in New Window » I did a twitter video on this one yesterday.  I...
Amazon (AMZN) has the 20 DMA @ 1958 above. It can certain trade lower as it has made lower weekly highs and lo...
Tilray's staggering 41% rise this morning leaves the company with an insane valuation and leaves Canopy Growth...
I badly want to be the person that calls the top in red-hot cannabis stocks, but fear looking like a short-ter...

BEST IDEAS

REAL MONEY'S BEST IDEAS

News Breaks

Powered by

COLUMNIST TWEETS

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.