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Stock Market Outlook for April 22, 2020


Existing Home Sales in the US increased by 23.9% (NSA) in March, weaker than the 33.1% increase that is average for the month.

 

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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Ameren Corp. (NYSE:AEE) Seasonal Chart

Ameren Corp. (NYSE:AEE) Seasonal Chart

Jazz Pharmaceuticals, Inc. (NASD:JAZZ) Seasonal Chart

Jazz Pharmaceuticals, Inc. (NASD:JAZZ) Seasonal Chart

Fair Isaac & Co., Inc. (NYSE:FICO) Seasonal Chart

Fair Isaac & Co., Inc. (NYSE:FICO) Seasonal Chart

Chesapeake Utilities Corp. (NYSE:CPK) Seasonal Chart

Chesapeake Utilities Corp. (NYSE:CPK) Seasonal Chart

Bridgford Foods Corp. (NASD:BRID) Seasonal Chart

Bridgford Foods Corp. (NASD:BRID) Seasonal Chart

iShares U.S. Telecommunications ETF (NYSE:IYZ) Seasonal Chart

iShares U.S. Telecommunications ETF (NYSE:IYZ) Seasonal Chart

 

 

The Markets

Stocks dipped on Tuesday as the equity market took its cues from the downfall in commodity prices, most notably in the price of oil.  The S&P 500 Index shed 3.07%, turning lower, again, from its 50-day moving average.  Momentum indicators continue to roll over with the MACD histogram remaining in decline and Stochastics and RSI turning lower from their short-term peaks.  None of the indicators have triggered a sell signal, as of yet, but the hints of a bearish trigger are certainly apparent.  Signup now and we’ll provide you with further technical insight and let you know how we are positioned in this evolving bear market decline.

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On the economic front, a report on existing home sales in the US was released during Tuesday’s session.  The headline print of March’s report indicates that activity declined by 8.5% to a seasonally adjusted annualized rate of 5.27 million. Analysts were expecting a 7.4% decrease to a rate of 5.335 million. The year-over-year change has essentially flat-lined, moving from +7.1% in February to +0.8% today. Stripping out the seasonal adjustments, existing home sales actually increased by 23.9% in March, which is weaker than the 33.1% increase that is average for the month. The year-to-date change is now 5.9% below the seasonal average trend. This is the first time that the change in existing home sales has been in a below average position since the end of 2018 when rising mortgage rates weighed on activity.  We sent out further insight to subscribers intraday.  Subscribe now and we’ll send you our report.

http://charts.equityclock.com/seasonal_charts/economic_data/EXISTHOMESALE_seasonal_chart.PNG

Sentiment on Tuesday, as gauged by the put-call ratio, ended bearish at 1.09.

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Seasonal charts of companies reporting earnings today:

AT&T Inc. Seasonal Chart Thermo Fisher Scientific Inc Seasonal Chart NextEra Energy, Inc. Seasonal Chart Biogen Inc. Seasonal Chart Kimberly-Clark Corporation Seasonal Chart CSX Corporation Seasonal Chart Lam Research Corporation Seasonal Chart Sempra Energy Seasonal Chart Las Vegas Sands Corp. Seasonal Chart Kinder Morgan, Inc. Seasonal Chart Ericsson Seasonal Chart O'Reilly Automotive, Inc. Seasonal Chart Amphenol Corporation Seasonal Chart Xilinx, Inc. Seasonal Chart Rogers Communication, Inc. Seasonal Chart STMicroelectronics N.V. Seasonal Chart TD Ameritrade Holding Corporation Seasonal Chart Nasdaq, Inc. Seasonal Chart Delta Air Lines, Inc. Seasonal Chart Baker Hughes Company Seasonal Chart Seagate Technology PLC Seasonal Chart Quest Diagnostics Incorporated Seasonal Chart Sun Communities, Inc. Seasonal Chart Teledyne Technologies Incorporated Seasonal Chart Discover Financial Services Seasonal Chart Globe Life Inc. Seasonal Chart Graco Inc. Seasonal Chart Fidelity National Financial, Inc. Seasonal Chart Knight Transportation, Inc. Seasonal Chart Interpublic Group of Companies, Inc. (The) Seasonal Chart Boston Beer Company, Inc. (The) Seasonal Chart First Industrial Realty Trust, Inc. Seasonal Chart SL Green Realty Corp Seasonal Chart Landstar System, Inc. Seasonal Chart Silgan Holdings Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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