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Stock Market Outlook for October 30, 2019


Make or break moment for the rising trend channel on the US Dollar Index with GDP and FOMC set to act as an influence on Wednesday.

 

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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Cognex Corp. (NASD:CGNX) Seasonal Chart

Cognex Corp. (NASD:CGNX) Seasonal Chart

Forestar Group Inc. (NYSE:FOR) Seasonal Chart

Forestar Group Inc. (NYSE:FOR) Seasonal Chart

Jacobs Engineering Group Inc. (NYSE:JEC) Seasonal Chart

Jacobs Engineering Group Inc. (NYSE:JEC) Seasonal Chart

ON Semiconductor Corp. (NASD:ON) Seasonal Chart

ON Semiconductor Corp. (NASD:ON) Seasonal Chart

Axos Financial, Inc. (NYSE:AX) Seasonal Chart

Axos Financial, Inc. (NYSE:AX) Seasonal Chart

Colfax Corp. (NYSE:CFX) Seasonal Chart

Colfax Corp. (NYSE:CFX) Seasonal Chart

Hologic, Inc. (NASD:HOLX) Seasonal Chart

Hologic, Inc. (NASD:HOLX) Seasonal Chart

AutoWeb, Inc. (NASD:AUTO) Seasonal Chart

AutoWeb, Inc. (NASD:AUTO) Seasonal Chart

Johnson Controls Intl plc (NYSE:JCI) Seasonal Chart

Johnson Controls Intl plc (NYSE:JCI) Seasonal Chart

Quanex Corp. (NYSE:NX) Seasonal Chart

Quanex Corp. (NYSE:NX) Seasonal Chart

 

 

 

The Markets

Stocks were generally flat on Tuesday as investors digested the record highs charted during the previous day’s session.  The S&P 500 Index ended lower by just less than a tenth of a percent, remaining above the gap opened during Monday’s session around the previous intraday peak at 3028.  Previous short-term horizontal resistance is now in a position of support at 3020.

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Wednesday’s session brings a couple of catalysts and the impact on the US dollar will be closely scrutinized.  The first read of third quarter GDP will be released before Wednesday’s bell, while the FOMC meeting announcement will be released later in the afternoon.  Both events have the potential to be highly influential on the domestic currency.  The US Dollar Index broke below short and intermediate levels of support around 20 and 50-day moving averages over the past few weeks, helping to support stocks ahead of the average start to the best six months of the year at the end of October.  The 200-day moving average is now the hurdle on the downside.  The currency has remained, stubbornly, in a long-term trend of higher-highs and higher-lows, providing a headwind to corporate fundamentals.  The desire for risk assets to flourish is a weaker currency.  Seasonally, the US Dollar Index has entered into its strongest period of the year, which sees the appreciation of the currency through the middle of November.  A realization of this seasonal norm would be a burden on stocks that have just freshly broken to new highs.  We’ll monitor things accordingly once the dust settles from Wednesday’s announcements.

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http://charts.equityclock.com/seasonal_charts/futures/FUTURE_DX1.PNG

Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.85.

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Seasonal charts of companies reporting earnings today:

Apple Inc. Seasonal Chart Facebook, Inc. Seasonal Chart Total S.A. Seasonal Chart Starbucks Corporation Seasonal Chart General Electric Company Seasonal Chart Sony Corp Ord Seasonal Chart CME Group Inc. Seasonal Chart Automatic Data Processing, Inc. Seasonal Chart Southern Company (The) Seasonal Chart Vertex Pharmaceuticals Incorporated Seasonal Chart Equinix, Inc. Seasonal Chart Simon Property Group, Inc. Seasonal Chart Suncor Energy Inc. Seasonal Chart MetLife, Inc. Seasonal Chart Moody's Corporation Seasonal Chart Cognizant Technology Solutions Corporation Seasonal Chart Yum! Brands, Inc. Seasonal Chart Credit Suisse Group Seasonal Chart TE Connectivity Ltd. Seasonal Chart IQVIA Holdings, Inc. Seasonal Chart Williams Companies, Inc. (The) Seasonal Chart KLA Corporation Seasonal Chart Republic Services, Inc. Seasonal Chart Motorola Solutions, Inc. Seasonal Chart McKesson Corporation Seasonal Chart Royal Caribbean Cruises Ltd. Seasonal Chart Entergy Corporation Seasonal Chart Aptiv PLC Seasonal Chart American Water Works Seasonal Chart Hess Corporation Seasonal Chart Western Digital Corporation Seasonal Chart HCP, Inc. Seasonal Chart Garmin Ltd. Seasonal Chart Deutsche Bank AG Seasonal Chart Mid-America Apartment Communities, Inc. Seasonal Chart MGM Resorts International Seasonal Chart WellCare Health Plans, Inc. Seasonal Chart Masco Corporation Seasonal Chart Duke Realty Corporation Seasonal Chart Banco Santander Chile Seasonal Chart Tenaris S.A. Seasonal Chart Lincoln National Corporation Seasonal Chart Molson Coors Brewing Company Seasonal Chart Regency Centers Corporation Seasonal Chart Continental Resources, Inc. Seasonal Chart ASE Technology Holding Co., Ltd. Seasonal Chart Federal Realty Investment Trust Seasonal Chart Melco Resorts & Entertainment Limited Seasonal Chart NiSource, Inc Seasonal Chart Tyler Technologies, Inc. Seasonal Chart CF Industries Holdings, Inc. Seasonal Chart Reinsurance Group of America, Incorporated Seasonal Chart Trimble Inc. Seasonal Chart PerkinElmer, Inc. Seasonal Chart AGNC Investment Corp. Seasonal Chart Santander Consumer USA Holdings Inc. Seasonal Chart Bright Horizons Family Solutions Inc. Seasonal Chart CyrusOne Inc Seasonal Chart Service Corporation International Seasonal Chart Sensata Technologies Holding plc Seasonal Chart Universal Display Corporation Seasonal Chart Apache Corporation Seasonal Chart Aspen Technology, Inc. Seasonal Chart Ares Capital Corporation Seasonal Chart Bunge Limited Seasonal Chart Masimo Corporation Seasonal Chart Hyatt Hotels Corporation Seasonal Chart Pilgrim's Pride Corporation Seasonal Chart Flowserve Corporation Seasonal Chart ACADIA Pharmaceuticals Inc. Seasonal Chart Zynga Inc. Seasonal Chart Oshkosh Corporation Seasonal Chart Lincoln Electric Holdings, Inc. Seasonal Chart Allison Transmission Holdings, Inc. Seasonal Chart Rayonier Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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