Contact | RSS Feed

Stock Market Outlook for March 8, 2019


S&P 500 breaks below multi-week trading range on renewed global growth concerns.

 

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:

Brandywine Realty Trust (NYSE:BDN) Seasonal Chart

Brandywine Realty Trust (NYSE:BDN) Seasonal Chart

Colliers International Group Inc. (NASD:CIGI) Seasonal Chart

Colliers International Group Inc. (NASD:CIGI) Seasonal Chart

General Dynamics Corp. (NYSE:GD) Seasonal Chart

General Dynamics Corp. (NYSE:GD) Seasonal Chart

Carpenter Tech Corp. (NYSE:CRS) Seasonal Chart

Carpenter Tech Corp. (NYSE:CRS) Seasonal Chart

Astrazeneca PLC (NYSE:AZN) Seasonal Chart

Astrazeneca PLC (NYSE:AZN) Seasonal Chart

Comstock Resources, Inc. (NYSE:CRK) Seasonal Chart

Comstock Resources, Inc. (NYSE:CRK) Seasonal Chart

Lumber Liquidators Holdings, Inc. (NYSE:LL) Seasonal Chart

Lumber Liquidators Holdings, Inc. (NYSE:LL) Seasonal Chart

 

 

The Markets

Stocks closed lower on Thursday following renewed global growth concerns as ECB President Mario Draghi lowered forecasts for Europe.  The S&P 500 Index declined by eight-tenths of one percent, closing below its 20-day moving average and intersecting with its 200-day moving average.  The benchmark broke below the short-term range that had become apparent between 2815 and 2765; downside prospect based on the violation of the trading range points to 2715, which, if achieved, would fill the open gap charted in the middle of February.  Momentum indicators on the hourly look have already become oversold, which may exhaust downside pressures over the short-term.  Sector performance indicated a distinct risk-off shift on Thursday with Utilities and REITs closing flat to positive, while cyclical sectors dominated the list of market laggards.

image

image

Acting as the catalyst for the sessions ahead could be the monthly non-farm payroll report, which is slated to be released on Friday morning.  Analysts are forecasting an increase of 175,000 payrolls for the month of February, which is down from the 304,000 reported for January.  Non-adjusted, payrolls increase by 0.4%, on average, in the second month of the year, which would suggest an actual increase of 592,000.  The change in jobless claims continues to trend below average, suggesting no signs of strain in the labor market.  Subscribers will receive a complete breakdown of this important report, from a seasonal perspective, during Friday’s session.  Subscribe now to be included on this distribution.

Total Nonfarm Seasonal Chart

Monthly Total Nonfarm Data

image

Sentiment on Thursday, as gauged by the put-call ratio, ended bearish at 1.12.

image

 

 

Seasonal charts of companies reporting earnings today:

Aldeyra Therapeutics, Inc. (ALDX) Seasonal Chart  Big Lots, Inc. (BIG) Seasonal Chart Conatus Pharmaceuticals Inc. (CNAT) Seasonal Chart  Eloxx Pharmaceuticals, Inc. (ELOX) Seasonal Chart Ferrellgas Partners, L.P. (FGP) Seasonal Chart  Navistar International Corporation (NAV) Seasonal Chart OFS Capital Corporation (OFS) Seasonal Chart Oncolytics Biotech Inc. (ONCY) Seasonal Chart PLx Pharma Inc. (PLXP) Seasonal Chart  Red Lion Hotels Corporation (RLH) Seasonal Chart Transportadora De Gas Sa Ord B (TGS) Seasonal Chart Vail Resorts, Inc. (MTN) Seasonal Chart

 

 

S&P 500 Index

image

image

 

 

TSE Composite

image

image

 

Sponsored By...
Seasonal Advantage Portfolio by CastleMoore

Comments are closed.