NDW Morning Pulse – September 21, 2026.

• U.S. equity indices are positive Monday (9/21) morning after mixed trading on Friday (9/18) that saw the Nasdaq-100 ([NDX]) and Nasdaq Composite ([NASD]) add 67 and 39 basis points. Last week’s trading witnessed most U.S. indices finish in negative territory - led to the downside by the Dow Jones Industrial Average ([.DJIA]) at  -1.7% - with the exceptions being NDX and NASD, which were up 94 and 72 basis points. After seeing some charts reverse higher following Thursday’s (9/17) trading, NDX was the only chart to see additional chart action Friday as it climbed above 29600 to form a triple top.
• The 10-week for NYSE stocks fell to 30% last week, marking the lowest level since April and suggesting less than 1/3^rd of the roughly 1800+ stocks in the NYSE universe trade above their 50-day moving average. Additionally, the short-term NYSE High Low Index ([^NYSEHILO]) fell into the lower 20s, highlighting a continued decrease in stocks making 52-week highs relative to those making 52-week highs and lows. The intermediate-term bullish percent for the NYSE universe ([^BPNYSE]) sits just one box above its 2026 chart low from March at 40%.
• While the U.S. Dollar ([DX/Y]) was roughly flat after Friday’s (9/18) trading, the default point and figure chart reversed back into Xs at 100.50. This places a higher bottom in the upper 90s on the chart and brings the index up to test the bearish resistance line. From here, a move above 102 would mark a second buy signal and flip the trend back to positive for the first time since early 2025.
• Crude Oil ([CL/]) fell more than 5% Friday (9/18), leading to a sell signal at $98 as the commodity fell to $95. Crude prices are down slightly pre-market Monday, trading in the lower $90s.
• Beyond a few notable earnings Wednesday (9/23) and Thursday (9/24) (a couple a highlighted below), investors will have their focus on U.S.-China meetings this week, highlighted by discussions scheduled between Presidents Trump and Xi Thursday.
  • Cintas ([CTAS]) – Reports 9/23 – The stock has been a 4 for 5’er since August this year after showing positive near-term peer relative strength. CTAS has maintained a buy signal and positive trend since July this year and recent action has seen the stock come down to test support at $196. Beyond current support, prior resistance in the mid $180s may be seen as additional support, while the bullish support line sits at $174.
  • Costco ([COST]) – Reports 9/24 – COST gave a third sell signal on 9/16 by breaking a double bottom at $896. This brings the 3 for 5’er down to test the bullish support line, which has been in place since February 2023 and would be violated with a move below $864. Additional support may be found at $848, the December 2025 chart low.