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Stock Market Outlook for March 13, 2019


Shares of Boeing weighing on the Industrial Sector ETF, but support remains apparent around $73.

 

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:

Empire Co. Ltd. (TSE:EMP/A.TO) Seasonal Chart

Empire Co. Ltd. (TSE:EMP/A.TO) Seasonal Chart

AtriCure Inc. (NASD:ATRC) Seasonal Chart

AtriCure Inc. (NASD:ATRC) Seasonal Chart

Stone Energy Corp. (NYSE:SGY) Seasonal Chart

Stone Energy Corp. (NYSE:SGY) Seasonal Chart

Algonquin Power & Utilities Corp. (NYSE:AQN) Seasonal Chart

Algonquin Power & Utilities Corp. (NYSE:AQN) Seasonal Chart

PPL Corp. (NYSE:PPL) Seasonal Chart

PPL Corp. (NYSE:PPL) Seasonal Chart

Ulta Beauty, Inc. (NASD:ULTA) Seasonal Chart

Ulta Beauty, Inc. (NASD:ULTA) Seasonal Chart

 

 

The Markets

Stocks inched higher on Tuesday as major benchmarks attempt to claw back the loss recorded in the week prior.  The S&P 500 Index added three-tenths of one percent, pushing up against the underbelly of the psychological level of resistance at 2800.  Gains were fairly evenly mixed amongst the sectors, except for one.  Industrials continue to realize the weight of the downfall of shares of Boeing, the largest constituent within many US Industrial sector ETFs.  The widely traded Industrial SPDR (XLI) was lower by eight-tenths of one percent on the session, holding between its 20 and 200-day moving averages.  Prior to this unfortunate event, the industrial sector was showing an appealing setup coming into its period of seasonal strength.  The ETF traded down to previous resistance, now support, around its 200-day moving average and then attempted to bounce.  The fund has failed to make any progress since, resulting in a significant drift lower in the performance relative to the S&P 500 Index.  Renewed buying demand from the level of support below has the potential to fuel a run through the all-time high around $80.  However, questions pertaining to the relative performance of the investment suggest that there are better opportunities elsewhere. In the Seasonal Advantage Portfolio that we manage with CastleMoore, we opted to avoid the sector exposure presented by the industrial ETF and instead are leaning towards individual equities that have better profiles.  To learn more about this portfolio, simply email us at seasonalportfolio@equityclock.com and we’ll send you further information about how to get started.

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Industrials Sector Seasonal Chart

On the economic front, the Consumer Price Index (CPI) for February was released before Tuesday’s opening bell. The headline print indicated that CPI increased by 0.2% last month, inline with the consensus analyst estimate. Less food and energy, the increase was a more muted 0.1%, placing the year-over-year change at 2.1%. Stripping out the seasonal adjustments, the Consumer Price Index actually increased by 0.4% in this second month of the year, which is inline with the average change for February. The average result maintains a pace that is a tenth of a percent below the seasonal average trend, suggesting subdued inflationary pressures. To be included on our intraday distributions and receive further insight on these market moving reports and how they relate from a seasonal perspective, subscribe via the following link: https://charts.equityclock.com/subscribe.  Yesterday’s distribution highlighted the best industries/stocks to take advantage of the seasonal trade in the retail sector.

Consumer Price Index for All Urban Consumers: All Items Seasonal Chart

Monthly Consumer Price Index for All Urban Consumers: All Items Data

Sentiment on Tuesday, as gauged by the put-call ratio, ended slightly bearish at 1.01.

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Seasonal charts of companies reporting earnings today:

Abraxas Petroleum Corporation (AXAS) Seasonal Chart Build-A-Bear Workshop, Inc. (BBW) Seasonal Chart Christopher & Banks Corporation (CBK) Seasonal Chart CRH Medical Corporation (CRHM) Seasonal Chart Express, Inc. (EXPR) Seasonal Chart Farmland Partners Inc. (FPI) Seasonal Chart  Fortuna Silver Mines Inc. (FSM) Seasonal Chart Northwest Pipe Company (NWPX) Seasonal Chart Peak Resorts, Inc. (SKIS) Seasonal Chart Semtech Corporation (SMTC) Seasonal Chart Speedway Motorsports, Inc. (TRK) Seasonal Chart Synacor, Inc. (SYNC) Seasonal Chart Tailored Brands, Inc. (TLRD) Seasonal Chart TransGlobe Energy Corporation (TGA) Seasonal Chart Vera Bradley, Inc. (VRA) Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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