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Stock Market Outlook for May 15, 2019


Grain prices surge as China prepares to retaliate against US tariffs.

 

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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Nam Tai Property Inc. (NYSE:NTP) Seasonal Chart

Nam Tai Property Inc. (NYSE:NTP) Seasonal Chart

Guyana Goldfields, Inc. (TSE:GUY.TO) Seasonal Chart

Guyana Goldfields, Inc. (TSE:GUY.TO) Seasonal Chart

Vince Holding Corp. (NYSE:VNCE) Seasonal Chart

Vince Holding Corp. (NYSE:VNCE) Seasonal Chart

Canadian Western Bank (TSE:CWB.TO) Seasonal Chart

Canadian Western Bank (TSE:CWB.TO) Seasonal Chart

 

 

The Markets

Stocks rebounded on Wednesday as investors set aside concerns pertaining to the intensifying trade war between the US and China and bought beaten down equities in anticipation of a rebound.  The S&P 500 Index closed higher by eight-tenths of one percent, clawing back some of Monday’s loss.  The large-cap benchmark moved into the gap that followed Monday’s open between 2840 and 2870, but ultimately failed to make any progress beyond a defined short-term declining trend channel, now hovering between 2775 and 2850.  Momentum indicators on this short-term look, while showing signs of bottoming, continue to gyrate in bearish territory, indicative of a negative trend.  Investors were observed buying into technology names, pushing the S&P 500 Technology Index higher by 1.60%; defensive sectors (staples, REITs, and Utilities) lagged by comparison.

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While the retaliation by China to tariffs enacted by the US appears to be centered around agricultural goods, the price of those commodities appear to be getting a boost.  Grain prices jumped higher on Tuesday, in many cases rebounding from significantly oversold levels.  The price of soybeans was higher by 3.61%, wheat was up by 2.63%, and corn surged by 3.44%.  Each move is being realized around significant long-term support, suggesting a bigger move could be at play than just a one day gyration.  From a seasonal perspective, tendencies for each commodity are mixed around this time of year with Corn trending lower, on average, between now and August, Soybeans showing strength through to the middle of July, and Wheat just entering its period of seasonal strength, which runs through the month of September.  The seasonal profiles are available by clicking on the relevant link.

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Sentiment on Tuesday, as gauged by the put-call ratio, ended bearish at 1.02.

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Seasonal charts of companies reporting earnings today:

Alibaba Group Holding Limited (BABA) Seasonal Chart Celsion Corporation (CLSN) Seasonal Chart Children's Place, Inc. (The) (PLCE) Seasonal Chart Cisco Systems, Inc. (CSCO) Seasonal Chart Embraer S.A. (ERJ) Seasonal Chart Flowers Foods, Inc. (FLO) Seasonal Chart Jack In The Box Inc. (JACK) Seasonal Chart Just Energy Group, Inc. (JE) Seasonal Chart Macy's Inc (M) Seasonal Chart NetEase, Inc. (NTES) Seasonal Chart SORL Auto Parts, Inc. (SORL) Seasonal Chart The Stars Group Inc. (TSG) Seasonal Chart Titan Pharmaceuticals, Inc. (TTNP) Seasonal Chart Tower Semiconductor Ltd. (TSEM) Seasonal Chart 

 

 

S&P 500 Index

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TSE Composite

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