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Stock Market Outlook for October 25, 2019


Put-call ratio down to the lowest level of the past few months, raising concerns of near-term complacency.

 

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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Avid Technology, Inc. (NASD:AVID) Seasonal Chart

Avid Technology, Inc. (NASD:AVID) Seasonal Chart

Bankunited Inc. (NYSE:BKU) Seasonal Chart

Bankunited Inc. (NYSE:BKU) Seasonal Chart

BioMarin Pharmaceutical, Inc. (NASD:BMRN) Seasonal Chart

BioMarin Pharmaceutical, Inc. (NASD:BMRN) Seasonal Chart

DSP Group, Inc. (NASD:DSPG) Seasonal Chart

DSP Group, Inc. (NASD:DSPG) Seasonal Chart

Legg Mason, Inc. (NYSE:LM) Seasonal Chart

Legg Mason, Inc. (NYSE:LM) Seasonal Chart

Icahn Enterprises L.P. (NASD:IEP) Seasonal Chart

Icahn Enterprises L.P. (NASD:IEP) Seasonal Chart

IPG Photonics Corp. (NASD:IPGP) Seasonal Chart

IPG Photonics Corp. (NASD:IPGP) Seasonal Chart

NCR Corp. (NYSE:NCR) Seasonal Chart

NCR Corp. (NYSE:NCR) Seasonal Chart

Regal-Beloit Corp. (NYSE:RBC) Seasonal Chart

Regal-Beloit Corp. (NYSE:RBC) Seasonal Chart

Radware Ltd. (NASD:RDWR) Seasonal Chart

Radware Ltd. (NASD:RDWR) Seasonal Chart

F5 Networks, Inc. (NASD:FFIV) Seasonal Chart

F5 Networks, Inc. (NASD:FFIV) Seasonal Chart

Comcast Corp. (NASD:CMCSA) Seasonal Chart

Comcast Corp. (NASD:CMCSA) Seasonal Chart

Old Dominion Freight Line, Inc. (NASD:ODFL) Seasonal Chart

Old Dominion Freight Line, Inc. (NASD:ODFL) Seasonal Chart

Mediagrif Interactive Technologies Inc. (TSE:MDF.TO) Seasonal Chart

Mediagrif Interactive Technologies Inc. (TSE:MDF.TO) Seasonal Chart

Cymbria Corp. (TSE:CYB.TO) Seasonal Chart

Cymbria Corp. (TSE:CYB.TO) Seasonal Chart

Marvell Technology Group, Ltd. (NASD:MRVL) Seasonal Chart

Marvell Technology Group, Ltd. (NASD:MRVL) Seasonal Chart

Liberty Global Inc. (NASD:LBTYA) Seasonal Chart

Liberty Global Inc. (NASD:LBTYA) Seasonal Chart

Align Technology, Inc. (NASD:ALGN) Seasonal Chart

Align Technology, Inc. (NASD:ALGN) Seasonal Chart

 

 

The Markets

Stocks posted marginal gains on Thursday as the earnings season rolls on.  The S&P 500 Index added just less than two-tenths of one percent, supported by technology stocks following a better than expected report from Microsoft.  The large-cap benchmark continues to show hesitation around the all-time highs as investors wait for that catalyst to fuel a breakout.  Bond prices closed relatively flat and the price of gold caught a bid, despite a stronger US Dollar, suggesting some investor unease around the all-time peak for stocks.  The ongoing uncertainty surrounding Brexit is likely a concern.

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On the economic front, a report on durable goods orders was released before Thursday’s opening bell.  The headline print indicated that activity in the US fell by 1.1% last month, missing the consensus analyst estimate that called for a decline of 0.7%. Core capital goods were lower by 0.5%, which was also a miss versus the 0.2% decline that was forecast. Stripping out the seasonal adjustments, the value of manufacturers’ new orders for durable goods industries actually increased by 0.6% in September, which is well short of the 6.0% increase that is average for the end of the third quarter. The result places the year-to-date change 2.9% below the seasonal average trend with just three months left in the year to report. The trend has been gyrating between above and below average levels all year as varying factors take a toll.  We sent out further insight to subscribers.  If you haven’t signed up yet, you can do so by selecting the monthly or yearly option via the following  link: https://charts.equityclock.com/subscribe

http://charts.equityclock.com/seasonal_charts/economic_data/UMDMNO_seasonal_chart.PNG

Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.78.  The ratio matches the lowest level from the past few months, raising concerns of near-term complacency.  Following a similar read on September 11th, equity markets charted a short-term peak soon thereafter, eventually rolling over into the start of October.  Reason for near-term caution is warranted.

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Seasonal charts of companies reporting earnings today:

Verizon Communications Inc. Seasonal Chart Anheuser-Busch Inbev SA Seasonal Chart Charter Communications, Inc. Seasonal Chart ENI S.p.A. Seasonal Chart Illinois Tool Works Inc. Seasonal Chart Phillips 66 Seasonal Chart Aon plc Seasonal Chart Barclays PLC Seasonal Chart V.F. Corporation Seasonal Chart Ventas, Inc. Seasonal Chart Weyerhaeuser Company Seasonal Chart Franklin Resources, Inc. Seasonal Chart Phillips 66 Partners LP Seasonal Chart Coca Cola Femsa S.A.B. de C.V. Seasonal Chart Yandex N.V. Seasonal Chart Shaw Communications Inc. Seasonal Chart Lear Corporation Seasonal Chart Autoliv, Inc. Seasonal Chart New Residential Investment Corp. Seasonal Chart Huntsman Corporation Seasonal Chart Kirby Corporation Seasonal Chart The Goodyear Tire & Rubber Company Seasonal Chart Barnes Group, Inc. Seasonal Chart Domtar Corporation Seasonal Chart Granite Construction Incorporated Seasonal Chart Provident Financial Services, Inc Seasonal Chart Gibraltar Industries, Inc. Seasonal Chart Southside Bancshares, Inc. Seasonal Chart Lakeland Financial Corporation Seasonal Chart Greenbrier Companies, Inc. (The) Seasonal Chart Interface, Inc. Seasonal Chart WisdomTree Investments, Inc. Seasonal Chart Virtus Investment Partners, Inc. Seasonal Chart Civista Bancshares, Inc. Seasonal Chart Community Bankers Trust Corporation. Seasonal Chart Civeo Corporation Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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