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Stock Market Outlook for May 12, 2020


Momentum in the equity market is slowing as the S&P 500 Index grinds towards its 200-day moving average.

 

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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Scholastic Corp. (NASD:SCHL) Seasonal Chart

Scholastic Corp. (NASD:SCHL) Seasonal Chart

Nickel Creek Platinum Corp. (TSE:NCP.TO) Seasonal Chart

Nickel Creek Platinum Corp. (TSE:NCP.TO) Seasonal Chart

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (NYSE:ETW) Seasonal Chart

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (NYSE:ETW) Seasonal Chart

SPDR Barclays Long Term Treasury ETF (AMEX:SPTL) Seasonal Chart

SPDR Barclays Long Term Treasury ETF (AMEX:SPTL) Seasonal Chart

 

 

The Markets

Stocks closed essentially unchanged on Monday as investor contemplated how the economy would return to normal.  The S&P 500 Index closed with a gain of a mere two basis point (0.02%), continuing to grind higher towards significant resistance at the 200-day moving average.  Gradually, daily market returns are reverting back to the mean, showing performance that is more typical under normal circumstances.  Returns in March and early April were characterized by large swings, both higher and lower, indicative of a bear market gyration.  Recent action is suggestive of a market that is attempting to find a new equilibrium.  Upside momentum has stalled compared to the surge higher from the March low and traders are attempting to gauge the near-term risk/reward.  A catalyst looks to be required to break the benchmark free of long-term resistance overhead at the 200-day moving average.  Looking for more daily commentary and, perhaps, an idea or two, subscribe now to receive our daily market outlook, which contains subscriber exclusive content emailed directly to your inbox.  Subscribe now.

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Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.86.

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Seasonal charts of companies reporting earnings today:

Duke Energy Corporation Seasonal Chart Honda Motor Company, Ltd. Seasonal Chart Ingersoll Rand Inc. Seasonal Chart Houlihan Lokey, Inc. Seasonal Chart Rexnord Corporation Seasonal Chart Novanta Inc. Seasonal Chart Vishay Intertechnology, Inc. Seasonal Chart Commvault Systems, Inc. Seasonal Chart 8x8 Inc Seasonal Chart TransAlta Corporation Seasonal Chart Osisko Gold Royalties Ltd. Seasonal Chart RLJ Lodging Trust Seasonal Chart SPX FLOW, Inc. Seasonal Chart Allegiant Travel Company Seasonal Chart Infinera Corporation Seasonal Chart Macerich Company (The) Seasonal Chart Embraer S.A. Seasonal Chart Pampa Energia S.A. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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