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Stock Market Outlook for January 15, 2019


Silver/Gold ratio may be set to expand after hitting the lowest level in almost a decade.

 

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:

Williams Companies, Inc.  (NYSE:WMB) Seasonal Chart

Williams Companies, Inc. (NYSE:WMB) Seasonal Chart

Amphenol Corporation  (NYSE:APH) Seasonal Chart

Amphenol Corporation (NYSE:APH) Seasonal Chart

Unilever plc (ADR) (NYSE:UL) Seasonal Chart

Unilever plc (ADR) (NYSE:UL) Seasonal Chart

RTI Biologics, Inc. (NASD:RTIX) Seasonal Chart

RTI Biologics, Inc. (NASD:RTIX) Seasonal Chart

Rowan Companies, Inc.  (NYSE:RDC) Seasonal Chart

Rowan Companies, Inc. (NYSE:RDC) Seasonal Chart

Williams-Sonoma, Inc.  (NYSE:WSM) Seasonal Chart

Williams-Sonoma, Inc. (NYSE:WSM) Seasonal Chart

WPX Energy, Inc. (NYSE:WPX) Seasonal Chart

WPX Energy, Inc. (NYSE:WPX) Seasonal Chart

Finning International Inc.  (TSE:FTT) Seasonal Chart

Finning International Inc. (TSE:FTT) Seasonal Chart

Surge Energy Inc (TSE:SGY) Seasonal Chart

Surge Energy Inc (TSE:SGY) Seasonal Chart

Gamestop Corp. (NYSE:GME) Seasonal Chart

Gamestop Corp. (NYSE:GME) Seasonal Chart

 

 

The Markets

Stocks closed generally lower on Monday as investors reacted to the ongoing US government shutdown and further concerning data out of China.  The S&P 500 Index shed just over half of one percent, showing initial signs of reacting to resistance around 2600.  Investors are watching this level of resistance closely, but with so much scrutiny on one level, its seems inevitable that stocks will not perform according to the consensus expectation.  Momentum indicators on the daily chart are showing signs of starting to roll over as the lack of positive catalysts at present give investors little incentive to buy stocks at current levels.

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With stocks in wait-and-see mode, other markets may present opportunity.  Silver benefits from positive tendencies from the middle of December through the month of February, rising into the manufacturing season in the spring.  Over the past month, the commodity is higher by just over 6%, trading above a significant hurdle around its 200-day moving average.  Strength in the price of gold amidst equity market uncertainty has helped its precious metal counterpart.  But there may be reason to expect the price of silver to outperform gold moving forward.  In November, the silver/gold ratio touched the lowest level since 2008.  The horizontal level below mas marked support for the ratio going back the past two decades.  Previous bounces from this range of support has resulted in gains for the ratio of approximately 100%, testing the upper limit of a range that has typically been realized in late-stage economies.  Seasonally, now is the time of year that the ratio typically expands with silver outperforming gold into the month of April.

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Sentiment on Monday, as gauged by the put-call ratio, ended bearish at 1.04.

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Seasonal charts of companies reporting earnings today:

Delta Air Lines, Inc. (DAL) Seasonal Chart FIRST REPUBLIC BANK (FRC) Seasonal Chart Fulton Financial Corporation (FULT) Seasonal Chart Hanmi Financial Corporation (HAFC) Seasonal Chart IHS Markit Ltd. (INFO) Seasonal Chart J P Morgan Chase & Co (JPM) Seasonal Chart Pinnacle Financial Partners, Inc. (PNFP) Seasonal Chart Synovus Financial Corp. (SNV) Seasonal Chart United Continental Holdings, Inc. (UAL) Seasonal Chart UnitedHealth Group Incorporated (UNH) Seasonal Chart Wells Fargo & Company (WFC) Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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