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Stock Market Outlook for October 28, 2019


Let the best six months of the year for stocks begin. 

 

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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CIGNA Corp. (NYSE:CI) Seasonal Chart

CIGNA Corp. (NYSE:CI) Seasonal Chart

Aecom Technology Corp. (NYSE:ACM) Seasonal Chart

Aecom Technology Corp. (NYSE:ACM) Seasonal Chart

The Descartes Systems Group, Inc. (TSE:DSG.TO) Seasonal Chart

The Descartes Systems Group, Inc. (TSE:DSG.TO) Seasonal Chart

Kelso Technologies, Inc. (TSE:KLS.TO) Seasonal Chart

Kelso Technologies, Inc. (TSE:KLS.TO) Seasonal Chart

Fuel Tech Inc. (NASD:FTEK) Seasonal Chart

Fuel Tech Inc. (NASD:FTEK) Seasonal Chart

Nutrien Ltd. (NYSE:NTR) Seasonal Chart

Nutrien Ltd. (NYSE:NTR) Seasonal Chart

KB Home (NYSE:KBH) Seasonal Chart

KB Home (NYSE:KBH) Seasonal Chart

First American Corp. (NYSE:FAF) Seasonal Chart

First American Corp. (NYSE:FAF) Seasonal Chart

Verde Potash Plc (TSE:NPK.TO) Seasonal Chart

Verde Potash Plc (TSE:NPK.TO) Seasonal Chart

Alamo Group, Inc. (NYSE:ALG) Seasonal Chart

Alamo Group, Inc. (NYSE:ALG) Seasonal Chart

Lennox Intl Inc. (NYSE:LII) Seasonal Chart

Lennox Intl Inc. (NYSE:LII) Seasonal Chart

Vulcan Materials Co. (NYSE:VMC) Seasonal Chart

Vulcan Materials Co. (NYSE:VMC) Seasonal Chart

CI Financial Corp. (TSE:CIX.TO) Seasonal Chart

CI Financial Corp. (TSE:CIX.TO) Seasonal Chart

Stantec, Inc. (TSE:STN.TO) Seasonal Chart

Stantec, Inc. (TSE:STN.TO) Seasonal Chart

Advanced Emissions Solutions, Inc. (NASD:ADES) Seasonal Chart

Advanced Emissions Solutions, Inc. (NASD:ADES) Seasonal Chart

American Software, Inc. (NASD:AMSWA) Seasonal Chart

American Software, Inc. (NASD:AMSWA) Seasonal Chart

Mednax, Inc. (NYSE:MD) Seasonal Chart

Mednax, Inc. (NYSE:MD) Seasonal Chart

Toll Brothers, Inc. (NYSE:TOL) Seasonal Chart

Toll Brothers, Inc. (NYSE:TOL) Seasonal Chart

IGM Financial Inc. (TSE:IGM.TO) Seasonal Chart

IGM Financial Inc. (TSE:IGM.TO) Seasonal Chart

Bunge Ltd. (NYSE:BG) Seasonal Chart

Bunge Ltd. (NYSE:BG) Seasonal Chart

J.B. Hunt Transport Services, Inc. (NASD:JBHT) Seasonal Chart

J.B. Hunt Transport Services, Inc. (NASD:JBHT) Seasonal Chart

Hubbell, Inc. (NYSE:HUBB) Seasonal Chart

Hubbell, Inc. (NYSE:HUBB) Seasonal Chart

 

 

The Markets

Stocks closed higher on Friday as investors shook off an earnings shock from Amazon.  The S&P 500 Index closed higher by just over four-tenths of one percent, reaching towards the all-time high at the height of the session.  The high 3027.29 was within a fraction of a point from the all-time intraday high of 3027.98 charted on July 26th.  Major moving averages are all pointing higher, giving the bias towards an upside break, but it remains apparent that investors are waiting for a catalyst to fuel the move.  Investors were noticeably risk-on during the session as technology and materials topped the leaderboard, while consumer staples, utilities, and REITs, this summer’s defensive trade, closed in the red.

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For the week, the large-cap benchmark was higher by 1.22%, remaining supported by its 20-week moving average.  An intermediate trend channel on the weekly look shows a rising range between 2875 and 3125.

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Today marks the average start to the strongest six months of the year for stocks and investors that have chosen to wait for the date itself, rather than heeding the positive technical signals triggered over the past few weeks (or even months) will have the dilemma of having to buy into the market at all-time highs.  This is yet another year that the Sell in May and Go Away crowd will be disappointed that they were unable to buy in at lower levels following the sales of equity positions at the start of May.  As our followers will know, we promote a three pronged approach incorporating seasonal, technical, and fundamental analysis, a strategy that has allowed us to mitigate the May and August slides, while taking advantage of the summer rally in June/July.  We have taken advantage of the weakness in stocks in August and the start of October to add to seasonally favoured positions to become fully invested.  Our Seasonal Advantage Portfolio that we manage in partnership with Castlemoore has continuously charted new highs throughout the year, even during the summer hiatus that saw range bound activity across a number of benchmarks throughout the third quarter.

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Soon to be released….  We are busy putting the finishing touches on our monthly outlook for November, providing insight on how to position your portfolio for the month(s) ahead.   Signup now and we’ll send you this report directly to your inbox when it is complete.

Sentiment on Friday, as gauged by the put-call ratio, ended bullish at 0.84.

 

 

Seasonal charts of companies reporting earnings today:

Alphabet Inc. Seasonal Chart Alphabet Inc. Seasonal Chart AT&T Inc. Seasonal Chart Fomento Economico Mexicano S.A.B. de C.V. Seasonal Chart HSBC Holdings plc Seasonal Chart T-Mobile US, Inc. Seasonal Chart Enterprise Products Partners L.P. Seasonal Chart Walgreens Boots Alliance, Inc. Seasonal Chart Koninklijke Philips N.V. Seasonal Chart Welltower Inc. Seasonal Chart AvalonBay Communities, Inc. Seasonal Chart NXP Semiconductors N.V. Seasonal Chart Canon, Inc. Seasonal Chart SBA Communications Corporation Seasonal Chart Waste Connections, Inc. Seasonal Chart DTE Energy Company Seasonal Chart Alexandria Real Estate Equities, Inc. Seasonal Chart Restaurant Brands International Inc. Seasonal Chart Check Point Software Technologies Ltd. Seasonal Chart Loews Corporation Seasonal Chart Akamai Technologies, Inc. Seasonal Chart Vornado Realty Trust Seasonal Chart CNA Financial Corporation Seasonal Chart Brown & Brown, Inc. Seasonal Chart Everest Re Group, Ltd. Seasonal Chart Cognex Corporation Seasonal Chart National Oilwell Varco, Inc. Seasonal Chart ON Semiconductor Corporation Seasonal Chart XPO Logistics, Inc. Seasonal Chart Encompass Health Corporation Seasonal Chart Healthcare Trust of America, Inc. Seasonal Chart Brixmor Property Group Inc. Seasonal Chart Leggett & Platt, Incorporated Seasonal Chart TCF Financial Corporation Seasonal Chart Trex Company, Inc. Seasonal Chart ONE Gas, Inc. Seasonal Chart OneMain Holdings, Inc. Seasonal Chart Armstrong World Industries Inc Seasonal Chart Crane Co. Seasonal Chart Blackbaud, Inc. Seasonal Chart Affiliated Managers Group, Inc. Seasonal Chart Bank of Hawaii Corporation Seasonal Chart Corporate Office Properties Trust Seasonal Chart Texas Roadhouse, Inc. Seasonal Chart John Bean Technologies Corporation Seasonal Chart Mercury General Corporation Seasonal Chart PotlatchDeltic Corporation Seasonal Chart Transocean Ltd. Seasonal Chart Dorman Products, Inc. Seasonal Chart AVX Corporation Seasonal Chart South State Corporation Seasonal Chart Amkor Technology, Inc. Seasonal Chart Sanmina Corporation Seasonal Chart Retail Opportunity Investments Corp. Seasonal Chart Varonis Systems, Inc. Seasonal Chart Alliance Resource Partners, L.P. Seasonal Chart Heartland Financial USA, Inc. Seasonal Chart Owens-Illinois, Inc. Seasonal Chart Berkshire Hills Bancorp, Inc. Seasonal Chart Archrock, Inc. Seasonal Chart Cooper Tire & Rubber Company Seasonal Chart Encore Wire Corporation Seasonal Chart Orthofix Medical Inc. Seasonal Chart TrueBlue, Inc. Seasonal Chart Opus Bank Seasonal Chart Diamond Offshore Drilling, Inc. Seasonal Chart Harmonic Inc. Seasonal Chart Heidrick & Struggles International, Inc. Seasonal Chart Carriage Services, Inc. Seasonal Chart Lsb Industries Inc. Seasonal Chart Intevac, Inc. Seasonal Chart SB Financial Group, Inc. Seasonal Chart Libbey, Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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