Our September 2023 stock and ETF watchlist with entry points, sector analysis, and market outlook.
Market Overview
Welcome back to The Wealth Catchers' watchlist. This will be a VERY short intro. August has been a whirlwind! My wife and I bought our first home (adulting is so much fun...), it was definitely an intense and stressful process but we got it done! Definitely be on the lookout for my thoughts on the home buying process and what to look out for. Now on to the market. August was a negative month across the board for all indices. It's living up to its historic nature for being known as a negative month, the same is expected for September. Look for opportunities to average down or continue to build on your positions during this pullback. On the macro, Jerome Powell spoke at Jackson Hole Economic Symposium , and it wasn't necessarily dovish. We were reminded of how stubborn inflation remains and of the certainty that there will be another rate hike. The next Fed meeting will be September 19th-20th. According to the FedWatch tool, it's priced in that there will not be a hike this upcoming meeting. Hopefully next month I can give a more in-depth recap
Monthly Performance
At the close of month here are how the indices performed:Dow Jones (-2.36%)S&P 500 (-1.77%)NASDAQ (-2.17%)Russell 2000 (-5.17%)At the close of the month of August the VIX was at 13.57. At the close of the month the "Fear and Greed" index was at 53 indicating neutral sentiment in the market.
Closing Note
Appreciate you checking in during this pull back and here's your friendly reminder:
“The time to buy is when there's blood in the streets.”
Keep on buying assets, there's always a bull or bear market somewhere. Keep your money working.
Index Performance
| Index | Performance |
|---|---|
| Dow Jones (Aug 2023) | -2.36% |
| S&P 500 (Aug 2023) | -1.77% |
| NASDAQ (Aug 2023) | -2.17% |
| Russell 2000 (Aug 2023) | -5.17% |
Top Sectors
Bottom Sectors
Stock Entry Points
| Ticker | Daily Entry | Weekly Entry |
|---|---|---|
| NKE | $104 | $97–$114 |
| ABNB | $117 | $105–$116 |
| MSFT | $279–$289 | $252–$281 |
| AAPL | $161–$164 | $135–$160 |
| GOOGL | $109–$121 | $95–$118 |
| MCD | $275–$281 | $229–$264 |
| WMT | $147–$155 | $132–$144 |
| TSLA | $199 | $161–$199 |
| SBUX | $100 | $92–$96 |
| V | $220–$234 | $201–$217 |
| PG | $146–$149 | $133–$140 |
| WM | $149–$161 | $133–$141 |
| IIPR | $74–$84 | $71–$90 |
| SHOP | $47–$60 | $48–$80 |
| ADBE | $384–$454 | $408–$433 |
| AMZN | $109–$124 | $110–$125 |
| CRWD | $132–$139 | $100–$135 |
| NVDA | $260–$386 | $154–$245 |
| COST | $509–$526 | $429–$512 |
| JPM | $135–$147 | $128–$133 |
| NEE | $60–$69 | $70 |
| LLY | $416–$487 | $338–$386 |
| TMO | $539 | $494–$544 |
| ADP | $228–$232 | $199–$228 |
| SHW | $238–$251 | $225–$243 |
| META | $197–$272 | $200–$218 |
| RTX | $80–$89 | $84–$94 |
ETF Entry Points
| Ticker | Daily Entry | Weekly Entry |
|---|---|---|
| VUG | $246–$272 | $227–$260 |
| VGT | $372–$419 | $320–$384 |
| VOO | $375–$398 | $337–$386 |
| SMH | $124–$144 | $100–$127 |
Key Takeaways
- →August 2023 saw pullbacks across the board as "higher for longer" reasserted.
- →NEE fell sharply on dividend growth concerns — potentially oversold for long-term investors.
- →RTX hit by powder metal aircraft engine contamination issue; oversold entry forming.
- →"The time to buy is when there's blood in the streets." — entry points emerged across the watchlist.
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