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Stock Market Outlook for October 23, 2019


Existing home sales remain on the best pace in a decade, up 19.9%, year-to-date.

 

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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Buckle, Inc. (NYSE:BKE) Seasonal Chart

Buckle, Inc. (NYSE:BKE) Seasonal Chart

Century Aluminum Co. (NASD:CENX) Seasonal Chart

Century Aluminum Co. (NASD:CENX) Seasonal Chart

Marten Transport, Ltd. (NASD:MRTN) Seasonal Chart

Marten Transport, Ltd. (NASD:MRTN) Seasonal Chart

EZCORP, Inc. (NASD:EZPW) Seasonal Chart

EZCORP, Inc. (NASD:EZPW) Seasonal Chart

Zebra Technologies Corp. (NASD:ZBRA) Seasonal Chart

Zebra Technologies Corp. (NASD:ZBRA) Seasonal Chart

Viad Corp. (NYSE:VVI) Seasonal Chart

Viad Corp. (NYSE:VVI) Seasonal Chart

BroadVision, Inc. (NASD:BVSN) Seasonal Chart

BroadVision, Inc. (NASD:BVSN) Seasonal Chart

Corelogic Inc. (NYSE:CLGX) Seasonal Chart

Corelogic Inc. (NYSE:CLGX) Seasonal Chart

Sally Beauty Holdings Inc. (NYSE:SBH) Seasonal Chart

Sally Beauty Holdings Inc. (NYSE:SBH) Seasonal Chart

 

 

The Markets

Stocks dipped on Tuesday, giving up earlier gains, following headlines that the passage of a Brexit deal in the United Kingdom would not be forthcoming.  The S&P 500 Index shed just over a third of one percent, yet again keeping this “dance” around the psychologically important 3,000 level alive.  The coiled trading pattern from the past six months is poised to make a big move, one way or the other.  Target upon a breakout from resistance at 3025 or breakdown below support at 2825 is 200-points in the direction of the break.  As for what the catalyst will be or when it will be revealed is anybody’s guess.

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On the economic front, a report on existing home sales was released during Tuesday’s session.  The headline print of September’s report indicates that activity fell by 2.2% last month to a seasonally adjusted annual rate of 5.38 million. Analysts were expecting a rate of 5.44 million. Despite the downtick, the year-over-year change ticked higher from 2.8% to 3.9%. Stripping out the seasonal adjustments, existing home sales actually declined by 15.0% in September, which is marginally better than the 15.2% decline that is average for the final month of the third quarter. The year-to-date trend is now hovering 10.6% above average, which is the best pace in the past decade. Signup now to receive our insight directly to your inbox, including the investment implications, from a seasonal standpoint.

Existing Home Sales Seasonal Chart

North of the border, a report on retail trade in Canada provided a look at the consumer economy in this country.  Statscan indicates that retail trade fell by 0.1% in August, a shift from the 0.6% increase recorded in the month prior and a miss compared to the consensus analyst estimate that called for the same. The result places the year-over-year change at +1.1%. Stripping out the seasonal adjustments, Canada Retail Trade was unchanged (0.0%) in August, which is stronger than the 0.3% decline that is average for this late summer month. The year-to-date change is now trending 9.1% above the seasonal average.  We sent out further insight to subscribers intraday.  Subscribe now.

Retail trade Seasonal Chart

Sentiment on Tuesday, as gauged by the put-call ratio, ended close to neutral at 0.96.

 

 

 

 

Seasonal charts of companies reporting earnings today:

Microsoft Corporation Seasonal Chart Boeing Company (The) Seasonal Chart Thermo Fisher Scientific Inc Seasonal Chart Eli Lilly and Company Seasonal Chart Caterpillar, Inc. Seasonal Chart Anthem, Inc. Seasonal Chart The Blackstone Group Inc. Seasonal Chart Boston Scientific Corporation Seasonal Chart General Dynamics Corporation Seasonal Chart Waste Management, Inc. Seasonal Chart Norfolk Southern Corporation Seasonal Chart Edwards Lifesciences Corporation Seasonal Chart Tesla, Inc. Seasonal Chart ServiceNow, Inc. Seasonal Chart Las Vegas Sands Corp. Seasonal Chart ABB Ltd Seasonal Chart Ford Motor Company Seasonal Chart Lam Research Corporation Seasonal Chart eBay Inc. Seasonal Chart O'Reilly Automotive, Inc. Seasonal Chart Canadian Pacific Railway Limited Seasonal Chart Amphenol Corporation Seasonal Chart Hilton Worldwide Holdings Inc. Seasonal Chart Rogers Communication, Inc. Seasonal Chart Xilinx, Inc. Seasonal Chart Alexion Pharmaceuticals, Inc. Seasonal Chart Essex Property Trust, Inc. Seasonal Chart Northern Trust Corporation Seasonal Chart AMERIPRISE FINANCIAL SERVICES, INC. Seasonal Chart Equifax, Inc. Seasonal Chart W.W. Grainger, Inc. Seasonal Chart Align Technology, Inc. Seasonal Chart Nasdaq, Inc. Seasonal Chart Freeport-McMoran, Inc. Seasonal Chart Sun Communities, Inc. Seasonal Chart MarketAxess Holdings, Inc. Seasonal Chart Agnico Eagle Mines Limited Seasonal Chart BioMarin Pharmaceutical Inc. Seasonal Chart Rollins, Inc. Seasonal Chart Teledyne Technologies Incorporated Seasonal Chart Raymond James Financial, Inc. Seasonal Chart Varian Medical Systems, Inc. Seasonal Chart Packaging Corporation of America Seasonal Chart Avery Dennison Corporation Seasonal Chart SEI Investments Company Seasonal Chart F5 Networks, Inc. Seasonal Chart Fortune Brands Home & Security, Inc. Seasonal Chart Euronet Worldwide, Inc. Seasonal Chart Kilroy Realty Corporation Seasonal Chart Graco Inc. Seasonal Chart PTC Inc. Seasonal Chart Invesco Plc Seasonal Chart ICON plc Seasonal Chart Owens Corning Inc Seasonal Chart Robert Half International Inc. Seasonal Chart Pentair plc. Seasonal Chart Knight Transportation, Inc. Seasonal Chart Brink's Company (The) Seasonal Chart Sterling Bancorp Seasonal Chart SLM Corporation Seasonal Chart Unifirst Corporation Seasonal Chart CoreLogic, Inc. Seasonal Chart Spirit Airlines, Inc. Seasonal Chart Universal Forest Products, Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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