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Stock Market Outlook for April 7, 2020


Equity benchmarks move solidly above their 20-day moving averages for the first time since February 21.

 

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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HSBC Holdings PLC (NYSE:HSBC) Seasonal Chart

HSBC Holdings PLC (NYSE:HSBC) Seasonal Chart

Ship Finance Intl Ltd. (NYSE:SFL) Seasonal Chart

Ship Finance Intl Ltd. (NYSE:SFL) Seasonal Chart

 

 

The Markets

Stocks surged to start the week as investors digested news released over the weekend that suggested the number of new daily coronavirus cases may be plateauing.  The S&P 500 Index rallied the to the tune of 7.03%, moving above its 20-day moving average for the first time since February 21.  This short-term variable level had acted as resistance to the rebound attempt over the past week, throwing a curveball to those expecting a nice rounded rebound wave from the March 23rd low.  Monday’s session saw the benchmark gap back above the open gap charted last week between 2500 and 2575, emphasizing the significance of this zone.  The move has charted a higher short-term low above the March 23rd low, indicating the start of a short-term trend of higher-highs and higher-lows.  The close above the end of March high at 2641 confirms.  Momentum indicators are pointing higher with MACD remaining on a Buy signal.  We provide much more in-depth research and analysis within our daily market outlook emailed directly to subscribers.  Signup now to follow along to gain further insight on Monday’s explosive move in stocks.

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Sentiment on Monday, as gauged by the put-call ratio, ended close to neutral at 0.97.

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Seasonal charts of companies reporting earnings today:

Lindsay Corporation Seasonal Chart Greenbrier Companies, Inc. (The) Seasonal Chart AngioDynamics, Inc. Seasonal Chart EXFO Inc Seasonal Chart Northern Technologies International Corporation Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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