Equity Clock

Stock Market Outlook for October 6, 2020

Stocks breakout, bonds breakdown.

 

 

*** 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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Orion Group Holdings, Inc. (NYSE:ORN) Seasonal Chart

Capitol Federal Financial (NASD:CFFN) Seasonal Chart

AudioCodes Ltd. (NASD:AUDC) Seasonal Chart

Whitestone REIT (NYSE:WSR) Seasonal Chart

Rocky Brands Inc. (NASD:RCKY) Seasonal Chart

Hingham Institution for Savings (NASD:HIFS) Seasonal Chart

Open Text Corp. (NASD:OTEX) Seasonal Chart

VanEck Vectors Agribusiness ETF (NYSE:MOO) Seasonal Chart

 

 

The Markets

Stocks gained to start the new week as investors monitored developments pertaining the Donald Trump’s recovery from the coronavirus, as well as progress pertaining to another stimulus bill.  The S&P 500 Index gained 1.80%, moving back above its 50-day moving average, a hurdle that it has been dancing around for the past week.  MACD has cross back above its signal line, triggering a new momentum buy signal, and the relative strength index (RSI) is moving back above its middle line at 50.  Sector performance was fairly evenly balanced with energy topping the leaderboard and consumer staples and REITs accounting for the laggards in an apparent “risk-on” tilt.

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Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.79. 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

TSE Composite

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