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Stock Market Outlook for March 1, 2019


S&P 500 Index has returned 1.2%, on average, in March with 64% of periods showing gains.

 

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:

CSX Corp. (NASD:CSX) Seasonal Chart

CSX Corp. (NASD:CSX) Seasonal Chart

UGI Corp Holding Co. (NYSE:UGI) Seasonal Chart

UGI Corp Holding Co. (NYSE:UGI) Seasonal Chart

United Natural Foods, Inc. (NASD:UNFI) Seasonal Chart

United Natural Foods, Inc. (NASD:UNFI) Seasonal Chart

Nisource, Inc. (NYSE:NI) Seasonal Chart

Nisource, Inc. (NYSE:NI) Seasonal Chart

CoStar Group, Inc. (NASD:CSGP) Seasonal Chart

CoStar Group, Inc. (NASD:CSGP) Seasonal Chart

Pattern Energy Group Inc. (NASD:PEGI) Seasonal Chart

Pattern Energy Group Inc. (NASD:PEGI) Seasonal Chart

Horizon Pharma plc (NASD:HZNP) Seasonal Chart

Horizon Pharma plc (NASD:HZNP) Seasonal Chart

Stuart Olson Inc. (TSE:SOX.TO) Seasonal Chart

Stuart Olson Inc. (TSE:SOX.TO) Seasonal Chart

 

 

 

The Markets

Stocks closed mildly lower on the last trading day of February.  The S&P 500 Index shed just less than three-tenths of one percent, continuing to consolidate around horizontal resistance.  Albeit slight, momentum indicators have triggered sell signals for the first time since early December.  The 12-26 MACD has crossed its signal line and the 14-day RSI has crossed below 70 following an overbought push during the past couple of months.  These negative triggers are not necessarily indicative of a pronounced decline ahead, although it is possible, but rather they suggest that the positive thrust that has lifted stocks from the December lows has waned and a period of consolidation should be expected.

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For the month of February, the large-cap benchmark was higher by 2.97%.  The result is much stronger than the 0.2% increase that is average for the month, historically one of the weaker months of the year.  In the first two months of the year, the large-cap benchmark has retraced the decline that was recorded in just a few weeks in December.  While this is not exactly characteristic of bull market activity, the benchmark is gradually breaking down barriers in an attempt to move back to all-time highs.  Momentum indicators on this monthly look remain in bullish territory, even with the significant sell signals that were generated in the month of October. 

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Looking ahead, seasonally, the month of March is typically a strong period for the large-cap benchmark. The S&P 500 Index has gained 1.2%, on average, in this third month of the year with 64% of periods showing gains. Returns have ranged from a loss of 10.2% in March of 1980 to a gain of 9.7% in March of 2000. Looking for more guidance from a seasonal perspective for the month ahead? Subscribe now and receive our 64-page outlook that highlights areas of significance for March.

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Sentiment on Thursday, as gauged by the put-call ratio, ended close to neutral at 0.96.

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Seasonal charts of companies reporting earnings today:

58.com Inc. (WUBA) Seasonal Chart Astec Industries, Inc. (ASTE) Seasonal Chart Colony Capital, Inc. (CLNY) Seasonal Chart Core-Mark Holding Company, Inc. (CORE) Seasonal Chart DENTSPLY SIRONA Inc. (XRAY) Seasonal Chart E.W. Scripps Company (The) (SSP) Seasonal Chart Ebix, Inc. (EBIX) Seasonal Chart Evofem Biosciences, Inc. (EVFM) Seasonal Chart Foot Locker, Inc. (FL) Seasonal Chart Heritage Insurance Holdings, Inc. (HRTG) Seasonal Chart Independence Contract Drilling, Inc. (ICD) Seasonal Chart Koppers Holdings Inc. (KOP) Seasonal Chart Northwest Natural Holding Company (NWN) Seasonal Chart Omeros Corporation (OMER) Seasonal Chart Pattern Energy Group Inc. (PEGI) Seasonal Chart Portola Pharmaceuticals, Inc. (PTLA) Seasonal Chart Senior Housing Properties Trust (SNH) Seasonal Chart Strategic Education, Inc. (STRA) Seasonal Chart TEGNA Inc. (TGNA) Seasonal Chart Tribune Media Company (TRCO) Seasonal Chart Ur Energy Inc (URG) Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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