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Stock Market Outlook for November 13, 2019


Health care sector consolidating above the neckline of what looks like a head-and-shoulders bottoming pattern.

 

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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Assembly Biosciences, Inc. (NASD:ASMB) Seasonal Chart

Assembly Biosciences, Inc. (NASD:ASMB) Seasonal Chart

News Corp. (NASD:NWSA) Seasonal Chart

News Corp. (NASD:NWSA) Seasonal Chart

Federal Agricultural Mortgage (NYSE:AGM) Seasonal Chart

Federal Agricultural Mortgage (NYSE:AGM) Seasonal Chart

KAR Auction Services Inc. (NYSE:KAR) Seasonal Chart

KAR Auction Services Inc. (NYSE:KAR) Seasonal Chart

Photronics, Inc. (NASD:PLAB) Seasonal Chart

Photronics, Inc. (NASD:PLAB) Seasonal Chart

Harvard Bioscience, Inc. (NASD:HBIO) Seasonal Chart

Harvard Bioscience, Inc. (NASD:HBIO) Seasonal Chart

Burlington Stores, Inc. (NYSE:BURL) Seasonal Chart

Burlington Stores, Inc. (NYSE:BURL) Seasonal Chart

Plaza Retail REIT (TSE:PLZ/UN.TO) Seasonal Chart

Plaza Retail REIT (TSE:PLZ/UN.TO) Seasonal Chart

The J. M. Smucker Co. (NYSE:SJM) Seasonal Chart

The J. M. Smucker Co. (NYSE:SJM) Seasonal Chart

High Liner Foods Inc. (TSE:HLF.TO) Seasonal Chart

High Liner Foods Inc. (TSE:HLF.TO) Seasonal Chart

Interpublic Grp Of Cos (NYSE:IPG) Seasonal Chart

Interpublic Grp Of Cos (NYSE:IPG) Seasonal Chart

CIENA Corp. (NYSE:CIEN) Seasonal Chart

CIENA Corp. (NYSE:CIEN) Seasonal Chart

 

 

The Markets

Another record closing high for stocks, but continued degradation in momentum suggests that investors are losing the desire to buy around the all-time peak.  The S&P 500 Index added just less than two-tenths of one percent, remaining elevated above major moving averages.  Momentum indicators on the hourly look of the large-cap benchmark, while continuing to show bullish characteristics, are negatively diverging from price, suggesting waning buying pressures.  Still a trend of higher-highs and higher-lows remains intact.  The benchmark has gone 20 sessions with a trading range, from high to low, in any given day of less than one percent.  This is typical of a market that is having difficulty finding the next marginal buyer to drive prices higher.  The last time the benchmark saw a similar scenario was at the end of April and then before that at the beginning of October of last year; each preceded a market pullback of around 5% to 10% in the month that followed.  First level of support on the downside is the 20-day moving average at 3041 and then the major horizontal hurdle at 3028.  Until there is a break of the horizontal barrier, which was previous resistance, it is assumed that a positive rising trend is intact.

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Health care stocks topped the leaderboard on Tuesday with the SPDR Heath Care Sector ETF adding six-tenths of one percent.  The sector ETF broke out above significant horizontal resistance around $94 in the past few weeks, a level that was tested as a level of support in recent days.  The horizontal hurdle could be argued as proving the neckline to a reverse head-and-shoulders pattern, a bullish setup that projects a theoretical target of $14 higher than the breakout zone.  Theory and reality don’t always align, however, the bias remains to the upside with major moving averages pointing higher.  Seasonally, the average period of strength for the sector runs from April 25th to December 4th, however, rotation from some of the move defensive areas to the higher beta counterparts typically become prudent later in the period.

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http://charts.equityclock.com/seasonal_charts/HEALTHCARE.PNG

Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.88.

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Seasonal charts of companies reporting earnings today:

Cisco Systems, Inc. Seasonal Chart NetApp, Inc. Seasonal Chart Vipshop Holdings Limited Seasonal Chart CAE Inc Seasonal Chart Tetra Tech, Inc. Seasonal Chart Copa Holdings, S.A. Seasonal Chart China Biologic Products Holdings, Inc. Seasonal Chart Cosan Limited Seasonal Chart Spectrum Brands Holdings, Inc. Seasonal Chart Tower Semiconductor Ltd. Seasonal Chart Hillenbrand Inc Seasonal Chart Meritor, Inc. Seasonal Chart Arcos Dorados Holdings Inc. Seasonal Chart Stratasys, Ltd. Seasonal Chart Teekay LNG Partners L.P. Seasonal Chart Griffon Corporation Seasonal Chart Hollysys Automation Technologies, Ltd. Seasonal Chart Navigator Holdings Ltd. Seasonal Chart Cheetah Mobile Inc. Seasonal Chart China Yuchai International Limited Seasonal Chart CorePoint Lodging Inc. Seasonal Chart Teekay Tankers Ltd. Seasonal Chart Beazer Homes USA, Inc. Seasonal Chart Gladstone Capital Corporation Seasonal Chart VolitionRX Limited Seasonal Chart Atento S.A. Seasonal Chart Kamada Ltd. Seasonal Chart Sierra Metals Inc. Seasonal Chart Palatin Technologies, Inc. Seasonal Chart Alithya Group inc. Seasonal Chart Acasti Pharma, Inc. Seasonal Chart Matinas Biopharma Holdings, Inc. Seasonal Chart EDAP TMS S.A. Seasonal Chart CYREN Ltd. Seasonal Chart S&W Seed Company Seasonal Chart Crown Crafts, Inc. Seasonal Chart Lantronix, Inc. Seasonal Chart The Alkaline Water Company Inc. Seasonal Chart AudioEye, Inc. Seasonal Chart Fuel Tech, Inc. Seasonal Chart Reeds, Inc. Seasonal Chart McClatchy Company (The) Seasonal Chart ReWalk Robotics Ltd. Seasonal Chart Cyclacel Pharmaceuticals, Inc. Seasonal Chart Energy Focus, Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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