Contact | RSS Feed

Stock Market Outlook for October 31, 2019


Dow Jones Transportation Average turning lower from the upper limit of its multi-month trading range, even as positive seasonal tendencies get set to kick into high gear.

 

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:

Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here.

Eagle Plains Resources Ltd. (TSXV:EPL.V) Seasonal Chart

Eagle Plains Resources Ltd. (TSXV:EPL.V) Seasonal Chart

Orbit Garant Drilling Inc. (TSE:OGD.TO) Seasonal Chart

Orbit Garant Drilling Inc. (TSE:OGD.TO) Seasonal Chart

Aegion Corp. (NASD:AEGN) Seasonal Chart

Aegion Corp. (NASD:AEGN) Seasonal Chart

Zoetis Inc. (NYSE:ZTS) Seasonal Chart

Zoetis Inc. (NYSE:ZTS) Seasonal Chart

Calix Networks Inc. (NYSE:CALX) Seasonal Chart

Calix Networks Inc. (NYSE:CALX) Seasonal Chart

First Majestic Silver Corp. (TSE:FR.TO) Seasonal Chart

First Majestic Silver Corp. (TSE:FR.TO) Seasonal Chart

 

 

 

The Markets

Happy Halloween!  While the little ones may be getting ready for the trick or treat event, investors are seemingly done with the tricks and have moved directly to the treats.  Stocks in the US charted fresh all-time highs on Wednesday as the market reacted positively to remarks from Fed Chair Jerome Powell.  The FOMC cut rates for a third time on Wednesday, bringing the benchmark rate down by a quarter of one percent to a range of 1.50% to 1.75%.  The Fed Chair continued to pledge the committee’s commitment to do what is appropriate to sustain the economic expansion.  The S&P 500 Index added a third of one percent, continuing to maintain the open gap that was recorded around 3025 during Monday’s session.  The large-cap benchmark remains supported, in the short-term, around its rising 50-hour moving average and short-term momentum indicators continue to show bullish characteristics.  Sector performance was somewhat defensive on the day as utilities and REITs topped the leaderboard as yields declined and investors took advantage of the recent pullback to add exposure to the defensive bets.

image

Not participating in Wednesday’s rally were transportation stocks as trucking companies came under pressure following earnings from industry constituents.  The Dow Jones Transportation Average fell by 1.76%, turning lower from the upper limit of the trading range in which the benchmark has been trapped over the past six months.  The downside limit of the span hovers around 9700, or 8.8% below present levels.  Seasonally, transportation stocks tend to gain between the beginning of October and the end of November.  In our monthly outlook we provide further thoughts on the industry group and whether or not you should be invested through the remainder of the period of strength that stretches through November.  Subscribe now and we’ll send your our report.

image

Dow Jones Transportation Average Seasonality

Just released…

Our monthly Outlook for November provides insight on how to position your portfolio for the month(s) ahead.

Highlights in this report include:

  • Equity market tendencies in the month of November
  • A brief comparison of the state of the economy this year compared to last
  • The expectation of easy comparisons in consumer data through the end of the year
  • The prospect of rotation from previous market leaders to market laggards through the final months of the year.
  • Global equity market opportunities
  • The technical status of the S&P 500 Index
  • Notable stocks entering their period of strength in November

Subscribe now and we’ll send this report directly to your inbox.

Also released on Wednesday was the advanced read of GDP for the third quarter.  The headline print showed that the US economy grew by 1.9% last quarter, which is stronger than the 1.6% rate forecasted by analysts.  Consumer spending was the dominant driver, rising by 2.9%, which is three-tenths of one percent better than expected.  Above average growth in employment, the low cost of borrowing, and the depressed state of energy commodity prices have helped to grow retail sales this year by a pace not seen in the past three decades.  Home sales are showing similar strength.  With the economy so reliant on this one segment, we have urged investors to look out for any threats that could impact the health or the confidence of the consumer going into the new year.  Well we may have just found one that could threaten consumer confidence moving forward.  Signup now and we’ll send you this warning.

Sentiment on Wednesday, as gauged by the put-call ratio, ended bearish at 1.03.

 

 

 

 

 

Seasonal charts of companies reporting earnings today:

Royal Dutch Shell PLC Seasonal Chart Sanofi Seasonal Chart American Tower Corporation (REIT) Seasonal Chart Bristol-Myers Squibb Company Seasonal Chart Altria Group Seasonal Chart Celgene Corporation Seasonal Chart Banco Bradesco Sa Seasonal Chart Estee Lauder Companies, Inc. (The) Seasonal Chart Cigna Corporation Seasonal Chart Intercontinental Exchange Inc. Seasonal Chart DuPont de Nemours, Inc. Seasonal Chart Global Payments Inc. Seasonal Chart ING Group, N.V. Seasonal Chart Marathon Petroleum Corporation Seasonal Chart Exelon Corporation Seasonal Chart BCE, Inc. Seasonal Chart The Kraft Heinz Company Seasonal Chart Thomson Reuters Corp Seasonal Chart Public Service Enterprise Group Incorporated Seasonal Chart Sirius XM Holdings Inc. Seasonal Chart Fiat Chrysler Automobiles N.V. Seasonal Chart MPLX LP Seasonal Chart MercadoLibre, Inc. Seasonal Chart Parker-Hannifin Corporation Seasonal Chart Ball Corporation Seasonal Chart Willis Towers Watson Public Limited Company Seasonal Chart IDEXX Laboratories, Inc. Seasonal Chart Archer-Daniels-Midland Company Seasonal Chart AMTEK, Inc. Seasonal Chart MSCI Inc Seasonal Chart Arista Networks, Inc. Seasonal Chart Clorox Company (The) Seasonal Chart CDW Corporation Seasonal Chart Church & Dwight Company, Inc. Seasonal Chart International Paper Company Seasonal Chart Apollo Global Management, Inc Seasonal Chart Xylem Inc. Seasonal Chart Teleflex Incorporated Seasonal Chart Live Nation Entertainment, Inc. Seasonal Chart Magellan Midstream Partners L.P. Seasonal Chart Fortinet, Inc. Seasonal Chart Westinghouse Air Brake Technologies Corporation Seasonal Chart SS&C Technologies Holdings, Inc. Seasonal Chart Gartner, Inc. Seasonal Chart Cenovus Energy Inc Seasonal Chart Open Text Corporation Seasonal Chart Western Union Company (The) Seasonal Chart Bio-Rad Laboratories, Inc. Seasonal Chart National Retail Properties Seasonal Chart Alnylam Pharmaceuticals, Inc. Seasonal Chart LKQ Corporation Seasonal Chart Iron Mountain Incorporated Seasonal Chart HollyFrontier Corporation Seasonal Chart Qorvo, Inc. Seasonal Chart The Carlyle Group L.P. Seasonal Chart Wayfair Inc. Seasonal Chart Encana Corporation Seasonal Chart Hanesbrands Inc. Seasonal Chart Generac Holdlings Inc. Seasonal Chart World Wrestling Entertainment, Inc. Seasonal Chart Gildan Activewear, Inc. Seasonal Chart Stericycle, Inc. Seasonal Chart Tempur Sealy International, Inc. Seasonal Chart Fluor Corporation Seasonal Chart California Water Service Group Holding Seasonal Chart Allegheny Technologies Incorporated Seasonal Chart Vermilion Energy Inc. Seasonal Chart Norbord Inc. Seasonal Chart Crescent Point Energy Corporation Seasonal Chart United States Steel Corporation Seasonal Chart Avon Products, Inc. Seasonal Chart

 

 

S&P 500 Index

image

image

 

 

TSE Composite

image

image

 

Sponsored By...
Seasonal Advantage Portfolio by CastleMoore

Comments are closed.