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Stock Market Outlook for April 5, 2019


Market has taken a month and a half to grind away at the long red candlestick recorded in one session in October.

 

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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Walter Investment Management Corp. (NYSE:WAC) Seasonal Chart

Walter Investment Management Corp. (NYSE:WAC) Seasonal Chart

Clearwater Seafoods Inc. (TSE:CLR.TO) Seasonal Chart

Clearwater Seafoods Inc. (TSE:CLR.TO) Seasonal Chart

Worthington Industries, Inc. (NYSE:WOR) Seasonal Chart

Worthington Industries, Inc. (NYSE:WOR) Seasonal Chart

Freehold Royalties Ltd. (TSE:FRU.TO) Seasonal Chart

Freehold Royalties Ltd. (TSE:FRU.TO) Seasonal Chart

Richards Packaging Income Fund (TSE:RPI/UN.TO) Seasonal Chart

Richards Packaging Income Fund (TSE:RPI/UN.TO) Seasonal Chart

 

 

The Markets

Stocks inched higher on Thursday amidst ongoing trade optimism as negotiations between the US and China progress.  The S&P 500 Index added two-tenths of one percent, moving back to levels last seen at the start of October.  For the last month and a half, the large-cap benchmark has been eating through the supply attributed to the long red candlestick charted on October 10th, which started the fourth quarter meltdown.  The market has effectively absorbed this supply that threatened the potential retest of the previous high at 2940 and a move back to this all-time high hurdle is increasingly likely.  Cyclical sectors are dominating the leaderboard, which suggests positive risk sentiment.

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Market performance in the days ahead is likely to be influenced by the monthly employment report, which is slated to be released before Friday’s opening bell.  Analysts are expecting an increase in payrolls for March of 170,000, a significant improvement from the 20,000 increase reported for February. Non-adjusted, the average increase in payrolls for the month of March is 0.6%, which would suggest an actual increase of approximately 895,000. Employment in the US has been trending above average for the past many years and the below average pace in jobless claims through the survey period suggests strength in payroll growth should be sustained.  Seasonally, payrolls typically rise through the spring as employers hire for summer positions.  Subscribers will receive our analysis of the March employment report during Friday’s session.  Want to be included on our distributions?  Subscribe now.

Total Nonfarm Seasonal Chart

Monthly Total Nonfarm Data

Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.81.

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Seasonal charts of companies reporting earnings today:

Greenbrier Companies, Inc. (The) (GBX) Seasonal Chart Northern Technologies International Corporation (NTIC) Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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