2026-09-01
SPY fell 0.7% to $762 as gains from early August faded and tech earnings failed to help. Futures were down 50 points near key support at SPY $760.40, and seasonal weakness lingered.
Daily Market Analysis
September 2026
SPY slipped 0.6% to $763 as it gave back part of the August breakout. A better than expected jobs report of 162K and a .4% PPI rise pushed interest rates to their highest level since 2007, and a 25 basis point Fed rate hike drove a test of the 100-day moving average. A 1.6% rally on September 21 broke the downward trendline from August.
A complete intraday market analysis for each day is listed below.
2026-09-02
SPY rose 0.4% to $765 as the Treasury issued short-term bonds to buy back long-term bonds. The SPY bounced from the breakout at $760.40, and ADP reported 38K jobs versus 47K projected.
2026-09-03
SPY rose 1.0% to $773 as the market kept giving back breakout gains. SPY $760 remained key support, and ADP's 38K August jobs were 10K lighter than expected.
2026-09-04
SPY fell 0.4% to $770 after a jobs report much better than expected showed 162K jobs added in August. The market fell on fears that strong growth would push interest rates higher.
2026-09-08
SPY fell 0.5% to $766 as the August breakout held without stronger selling. Support at SPY $760.40 held, and a market neutral view grew slightly more bullish with sector rotation expected.
2026-09-09
SPY fell 0.5% to $762 as stocks drifted toward support at $760.40. Sellers were in control only marginally, with seasonal weakness and the mid-term election approaching and CPI and PPI due.
2026-09-10
SPY fell 0.6% to $758 after PPI rose .4% m/m. The market tested the lower trendline of a downward channel that matched the 50-day MA, with rising yields and oil at a 52-week high adding pressure.
2026-09-11
SPY rose 0.9% to $764 after four down days, bouncing from a trading channel low that matched the 50-day MA for SPY and the 100-day MA for QQQ. Commentary recalled 911 and its effect on a trading career.
2026-09-14
SPY fell 0.4% to $761 as the 911 bounce was given back inside a downward sloping channel. Inflation was rising, and the Fed could raise rates Wednesday, though a one and done message was possible.
2026-09-15
SPY fell 0.5% to $757 as interest rates hit their highest level since 2007. Seasonal weakness was expected in September and October, with a rally typically following.
2026-09-16
SPY fell 0.4% to $754 on Fed day with interest rates at highs not seen since 2007. A 1.5% GDP was called too weak, and a one and done Fed statement was expected to calm worries.
2026-09-17
SPY rose 1.1% to $763 after a drop following the FOMC Statement reversed. Rates were at multi-year highs and another December hike was possible, yet excellent earnings kept the market in a weak downward channel.
2026-09-18
SPY fell 0.1% to $762 as moves around the FOMC statement were called program generated ahead of quadruple witching. Wednesday's selloff tested the 100-day MA and was erased the next day.
2026-09-21
SPY rose 1.6% to $774 after the Fed hiked rates and the market rebounded sharply from a test of the 100-day MA. Mid-term elections were five weeks away, and a big drop was seen as very unlikely.
2026-09-22
SPY was flat at 0.0% and closed at $773 after breaking the downward trendline from August. It was bumping against horizontal resistance at SPY $775 and might need to consolidate before testing the all-time high.
2026-09-23
SPY fell 0.7% to $768 after higher inflation and a 25 basis point rate hike sparked selling that tested the 100-day MA. Monday's steady buying breached the channel, with resistance at $773 expected to hold.
2026-09-24
SPY fell 0.1% to $767 as the market made big moves both ways since the FOMC statement and ended near where it started. Rates at 19 year highs and seasonal weakness favored drifting lower.
2026-09-25
SPY rose 0.5% to $771 after a wide 250 point range in a week. Rates hit twenty-year highs, but profits kept buyers engaged, and SPY $800 was seen as possible later.
2026-09-28
SPY fell 0.7% to $766 as the market treaded water during seasonal weakness with rates at a 20-year high. Better growth, such as jobs over 200K and GDP in the 3% range, was needed.
2026-09-29
SPY fell 0.2% to $764 as the jobs report loomed, with analysts expecting 98K new jobs. Bonds hit a new 20-year low, so a weaker number risked a drop and the downside seemed favored.
2026-09-30
SPY fell 0.2% to $763 as ADP reported 90K private sector jobs in September. The odds of a beat on Friday's jobs report were seen as good, though the BLS number was doubted.
