Stock Market Outlook for November 15, 2019
Oil days of supply remains over five days above average for this time of year.
*** 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.
Skechers Usa, Inc. (NYSE:SKX) Seasonal Chart
American Vanguard Corp. (NYSE:AVD) Seasonal Chart
Lennar Corp. (NYSE:LEN) Seasonal Chart
New York Times Co. (NYSE:NYT) Seasonal Chart
Streamline Health Solutions Inc. (NASD:STRM) Seasonal Chart
Cogeco Cable, Inc. (TSE:CCA.TO) Seasonal Chart
Charles River Laboratorie (NYSE:CRL) Seasonal Chart
Atlas Air Worlwide Hldgs (NASD:AAWW) Seasonal Chart
Fluor Corp. (NYSE:FLR) Seasonal Chart
World Wrestling Entertainment, Inc. (NYSE:WWE) Seasonal Chart
The Markets
Stocks closed essentially flat for another day as investors continue to monitor developments pertaining to the ongoing trade negotiations between the US and China. The S&P 500 Index ended with a gain of just less than a tenth of one percent, eking out another all-time record closing high. The price action remains highly tenuous as the market shows difficulty drawing in the next marginal buyer.
A day delayed due to the Veterans Day on Monday, the Energy Information Administration (EIA) released its latest look at petroleum inventories in the US. The EIA reports that oil inventories expanded by 2.2 million barrels last week, while gasoline stockpiles expanded by 1.9 million barrels. The result saw the days of supply of oil remain unchanged at 28.3, while gasoline expanded by three-tenths to 23.2. The average days of supply for each at this time of year is 22.8 and 23.2, respectively. In our intraday report to subscribers, we highlighted certain things to look out for in order to become bullish of the energy sector. Subscribe now to receive this report.
Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.92.
Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
| Sponsored By... |
|
