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Stock Market Outlook for March 27, 2019


S&P 500 gaps back above 2800 as investors chase beaten down names.

 

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:

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Mack-Cali Realty Corp. (NYSE:CLI) Seasonal Chart

Mack-Cali Realty Corp. (NYSE:CLI) Seasonal Chart

Apogee Enterprises, Inc. (NASD:APOG) Seasonal Chart

Apogee Enterprises, Inc. (NASD:APOG) Seasonal Chart

Donnelley R R & Sons Co. (NYSE:RRD) Seasonal Chart

Donnelley R R & Sons Co. (NYSE:RRD) Seasonal Chart

Vornado Realty Trust (NYSE:VNO) Seasonal Chart

Vornado Realty Trust (NYSE:VNO) Seasonal Chart

Dean Foods, Inc. (NYSE:DF) Seasonal Chart

Dean Foods, Inc. (NYSE:DF) Seasonal Chart

Loews Corp. (NYSE:L) Seasonal Chart

Loews Corp. (NYSE:L) Seasonal Chart

American Intl Group, Inc. (NYSE:AIG) Seasonal Chart

American Intl Group, Inc. (NYSE:AIG) Seasonal Chart

Dollar General Corp. (NYSE:DG) Seasonal Chart

Dollar General Corp. (NYSE:DG) Seasonal Chart

Enbridge, Inc. (NYSE:ENB) Seasonal Chart

Enbridge, Inc. (NYSE:ENB) Seasonal Chart

 

 

The Markets

Stocks snapped back on Tuesday as areas that had been beaten down in recent days found some buying demand.  The S&P 500 Index closed higher by nearly three-quarters of one percent, led by financials and energy.  The large-cap benchmark gapped higher from around its 20-day moving average, retaking levels back above resistance at 2815.  The open gap shown on the hourly chart is now in a position to act as support.  The next few days will likely see further rotation amongst market sectors as investors look to close the book on the first quarter.

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On the economic front, a couple of reports on housing point to a cooler market than what was observed last year. The headline print of February’s report on US Housing Starts indicated a decline of 8.7% to a seasonally adjusted annualized rate of 1.162 million. Analysts were expecting a decline of 5.7% to a rate of 1.201 million. Stripping out the seasonal adjustments, housing starts in the US actually declined by 4.5%, which is a divergence compared to the 5.0% gain that is average for this time of year. The year-to-date change continues to hold above the seasonal average trend, now by just 4.8%. By comparison, the pace seen through the first two months of last year was 8.0% above the seasonal average trend.  Subscribers to our service were provided with further insight on this gauge of the housing market.  An approaching seasonal trade in the home building stocks was also highlighted.  Subscribe now to be included on future distributions.

Housing Starts Seasonal Chart

Monthly Housing Starts Data

Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.88.

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Seasonal charts of companies reporting earnings today:

Affimed N.V. (AFMD) Seasonal Chart  Arcos Dorados Holdings Inc. (ARCO) Seasonal Chart AudioEye, Inc. (AEYE) Seasonal Chart Cyclacel Pharmaceuticals, Inc. (CYCC) Seasonal Chart CynergisTek, Inc. (CTEK) Seasonal Chart  EVINE Live Inc. (EVLV) Seasonal Chart  Fibrocell Science Inc. (FCSC) Seasonal Chart Five Below, Inc. (FIVE) Seasonal Chart Gevo, Inc. (GEVO) Seasonal Chart H. B. Fuller Company (FUL) Seasonal Chart Lennar Corporation (LEN) Seasonal Chart lululemon athletica inc. (LULU) Seasonal Chart OMNOVA Solutions Inc. (OMN) Seasonal Chart  Paychex, Inc. (PAYX) Seasonal Chart PVH Corp. (PVH) Seasonal Chart Synnex Corporation (SNX) Seasonal Chart Titan Machinery Inc. (TITN) Seasonal Chart Unifirst Corporation (UNF) Seasonal Chart VALE S.A. (VALE) Seasonal Chart Verint Systems Inc. (VRNT) Seasonal Chart  

 

 

S&P 500 Index

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TSE Composite

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