Contact | RSS Feed

Stock Market Outlook for October 30, 2018

Signs of selling exhaustion are apparent, but buyers having problems sustaining any rally.

 

Real Time Economic Calendar provided by Investing.com.

 

*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.   As always, the use of technical and fundamental analysis is encouraged in order to fine tune entry and exit points to average seasonal trends.

Stocks Entering Period of Seasonal Strength Today:

Watts Water Technologies, Inc. (NYSE:WTS) Seasonal Chart

Watts Water Technologies, Inc. (NYSE:WTS) Seasonal Chart

Viavi Solutions Inc. (NASD:VIAV) Seasonal Chart

Viavi Solutions Inc. (NASD:VIAV) Seasonal Chart

Eagle Materials Inc. (NYSE:EXP) Seasonal Chart

Eagle Materials Inc. (NYSE:EXP) Seasonal Chart

The Brink's Company  (NYSE:BCO) Seasonal Chart

The Brink’s Company (NYSE:BCO) Seasonal Chart

D.R. Horton, Inc.  (NYSE:DHI) Seasonal Chart

D.R. Horton, Inc. (NYSE:DHI) Seasonal Chart

Briggs & Stratton Corp. (NYSE:BGG) Seasonal Chart

Briggs & Stratton Corp. (NYSE:BGG) Seasonal Chart

Johnson Controls, Inc.  (NYSE:JCI) Seasonal Chart

Johnson Controls, Inc. (NYSE:JCI) Seasonal Chart

 

 

The Markets

Stocks charted another volatile session on Monday as investors sold into early morning strength.  The S&P 500 Index ended lower by two-thirds of one percent, realizing an over 100-point swing intraday.  While the large-cap benchmark has yet to provide indications of buying demand, signs of selling exhaustion are apparent.  The past two sessions have resulted in candlesticks with long tails as price ends off the lows amidst bottom fishing into the close.  As well, looking at the hourly chart, positive momentum divergences are being realized.  These are typically signals that the bears are losing control of the negative trend as traders cover their shorts in order to not get caught in any short-covering rally. 

image

An oversold rally in stocks could see the S&P 500 Index retrace back to its 200-day moving average, but the action at that long-term pivot point will be indicative of the strength or weakness of this market.  The recent plunge in stocks has caused a lot of damage, leading to a rollover in the 200-day moving average.  This is suggestive of a long-term negative path for stocks.  Should the benchmark resist at this long-term level, long-term holders of stocks will join the traders to pressure this market lower.  Currently, there is not enough evidence to suggest that this downdraft has longer-term implications, but certainly the concern is growing.

image

Sentiment on Monday, as gauged by the put-call ratio, ended bearish at 1.27.

image

 

 

 

 

Seasonal charts of companies reporting earnings today:

3D Systems Corporation (DDD) Seasonal Chart Acco Brands Corporation (ACCO) Seasonal Chart Aegion Corp (AEGN) Seasonal Chart Aetna Inc. (AET) Seasonal Chart AGCO Corporation (AGCO) Seasonal Chart Allergan plc. (AGN) Seasonal Chart American Railcar Industries, Inc. (ARII) Seasonal Chart American Tower Corporation (REIT) (AMT) Seasonal Chart Amgen Inc. (AMGN) Seasonal Chart Anadarko Petroleum Corporation (APC) Seasonal Chart AutoNation, Inc. (AN) Seasonal Chart Baidu, Inc. (BIDU) Seasonal Chart Baker Hughes, a GE company (BHGE) Seasonal Chart Boston Properties, Inc. (BXP) Seasonal Chart BP p.l.c. (BP) Seasonal Chart C.H. Robinson Worldwide, Inc. (CHRW) Seasonal Chart Coca-Cola Company (The) (KO) Seasonal Chart Cognizant Technology Solutions Corporation (CTSH) Seasonal Chart Cummins Inc. (CMI) Seasonal Chart Eaton Corporation, PLC (ETN) Seasonal Chart eBay Inc. (EBAY) Seasonal Chart Electronic Arts Inc. (EA) Seasonal Chart Facebook, Inc. (FB) Seasonal Chart FLIR Systems, Inc. (FLIR) Seasonal Chart General Electric Company (GE) Seasonal Chart Lumber Liquidators Holdings, Inc (LL) Seasonal Chart LyondellBasell Industries NV (LYB) Seasonal Chart Mastercard Incorporated (MA) Seasonal Chart MGM Resorts International (MGM) Seasonal Chart Owens-Illinois, Inc. (OI) Seasonal Chart Peabody Energy Corporation (BTU) Seasonal Chart Pfizer, Inc. (PFE) Seasonal Chart Public Storage (PSA) Seasonal Chart R.R. Donnelley & Sons Company (RRD) Seasonal Chart T-Mobile US, Inc. (TMUS) Seasonal Chart  Xylem Inc. (XYL) Seasonal Chart 

 

 

S&P 500 Index

image

image

 

 

TSE Composite

image

image

 

Sponsored By...
Seasonal Advantage Portfolio by CastleMoore

Comments are closed.