Contact | RSS Feed

Stock Market Outlook for March 15, 2019


Materials sector benchmark getting pinned between rising support and declining resistance; resolution appears imminent.

 

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:

American Midstream Partners, LP (NYSE:AMID) Seasonal Chart

American Midstream Partners, LP (NYSE:AMID) Seasonal Chart

Lincoln Electric Holdings, Inc. (NASD:LECO) Seasonal Chart

Lincoln Electric Holdings, Inc. (NASD:LECO) Seasonal Chart

Advisory Board Co. (NASD:ABCO) Seasonal Chart

Advisory Board Co. (NASD:ABCO) Seasonal Chart

Franklin Covey Co. (NYSE:FC) Seasonal Chart

Franklin Covey Co. (NYSE:FC) Seasonal Chart

Royal Dutch Shell Plc. A Shares (NYSE:RDS/A) Seasonal Chart

Royal Dutch Shell Plc. A Shares (NYSE:RDS/A) Seasonal Chart

DST Systems, Inc.  (NYSE:DST) Seasonal Chart

DST Systems, Inc. (NYSE:DST) Seasonal Chart

W&T Offshore Inc. (NYSE:WTI) Seasonal Chart

W&T Offshore Inc. (NYSE:WTI) Seasonal Chart

Natural Gas Services Group, Inc. (NYSE:NGS) Seasonal Chart

Natural Gas Services Group, Inc. (NYSE:NGS) Seasonal Chart

 

 

The Markets

Stocks gyrated around the flat-line on Thursday as investors digested headlines pertaining to trade and the weak industrial production numbers coming out of China.  The S&P 500 Index shed a tenth of a percent, once again holding below the 2815 level of resistance that everyone is watching.  Materials realized the bulk of the selling as commodity prices came under pressure amidst concerns of slowing growth in the Chinese economy.  The S&P 500 Materials Sector Index continues to struggle with resistance at its declining 200-day moving average; rising support at the 20 and 50-day moving averages will inevitably trigger a resolution as the sector breaks up or breaks down.  Seasonally, the materials sector remains in a period of seasonal strength into the month of May.

image

Materials Sector Seasonal Chart

On the economic front, another report on new home sales that raises questions as to how the results are calculated. The headline print indicates that new home sales in the US fell by 6.9% from a previously revised seasonally adjusted annual rate of 652,000 to a pace of 607,000. Analysts were expecting a rate of 612,000. Stripping out the seasonal adjustments, new home sales actually fell by 4.3% in this first month of the year, which is a significant divergence compared to the 5.4% increase that is average for January. This follows a 4.4% increase in new home sales for all of 2018, which is a notable shift from the 2.2% calendar year decline reported just 10 days ago, hence our questions pertaining to the calculation of this gauge of housing activity. As of our last look a week and a half ago, 2018 looked like the weakest calendar year performance for new home sales since 2010, but now last year was merely the weakest since 2016. To receive our analysis of this report, subscribe via the following link and we’ll send you this and future reports to assist in your seasonal investing strategy: https://charts.equityclock.com/subscribe

New Home Sales Seasonal Chart

Monthly New Home Sales Data

Sentiment on Thursday, as gauged by the put call ratio, ended bullish at 0.91.

image

 

 

 

 

Seasonal charts of companies reporting earnings today:

TerraForm Power, Inc. (TERP) Seasonal Chart Buckle, Inc. (The) (BKE) Seasonal Chart Citi Trends, Inc. (CTRN) Seasonal Chart Hydrogenics Corporation (HYGS) Seasonal Chart Kirkland's, Inc. (KIRK) Seasonal Chart UTStarcom Holdings Corp (UTSI) Seasonal Chart Vuzix Corporation (VUZI) Seasonal Chart Avadel Pharmaceuticals plc (AVDL) Seasonal Chart   

 

 

S&P 500 Index

image

image

 

 

TSE Composite

image

image

 

Sponsored By...
Seasonal Advantage Portfolio by CastleMoore

Comments are closed.