Equity Clock

Stock Market Outlook for March 2, 2021

Strong start to the year for construction spending suggesting that the upcoming construction season in the spring and summer will be a busy one.

 

 

 

*** 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.

Citigroup, Inc. (NYSE:C) Seasonal Chart

Sierra Wireless, Inc. (TSE:SW.TO) Seasonal Chart

Citrix Systems, Inc. (NASD:CTXS) Seasonal Chart

TAL Education Group (NYSE:TAL) Seasonal Chart

Western Union Co. (NYSE:WU) Seasonal Chart

Shaw Communications, Inc. (TSE:SJR/B.TO) Seasonal Chart

Cousins Properties, Inc. (NYSE:CUZ) Seasonal Chart

Pennsylvania REIT (NYSE:PEI) Seasonal Chart

Envestnet Inc. (NYSE:ENV) Seasonal Chart

Systemax, Inc. (NYSE:SYX) Seasonal Chart

LGI Homes, Inc. (NASD:LGIH) Seasonal Chart

iShares MSCI International Developed Quality Factor ETF (AMEX:IQLT) Seasonal Chart

 

 

The Markets

Stocks jumped on the first trading day of March as investors took advantage of last week’s dip to load up on favoured positions.  The S&P 500 Index gained 2.38%, producing the strongest single session return since June of last year.  The bulls remain victorious holding the 50-day moving average as a level of support, managing to draw in buyers around this intermediate hurdle.  The benchmark has once again retaken levels above the rising 20-day moving average, as well as levels within the rising intermediate trading range between 3890 and 4010.  Momentum indicators continue to negatively diverge from price, indicative of waning buying demand.  Investors must remain cognizant that while the intermediate-term trend remains that of higher-highs and higher-lows, near-term risks down to previous horizontal resistance at 3550 remain fair game.

Want to know which areas of the market to buy or sell?  Our Weekly Chart Books have just been updated, providing a clear Accumulate, Avoid, or Neutral rating for currencies, cryptocurrencies, commodities, broad markets, and subsectors/industries of the market.  Subscribers can login and click on the relevant links to access.

• Currencies
• Cryptocurrencies
• Commodities
• Major Benchmarks
• Sub-sectors / Industries

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Today, in our Market Outlook to subscribers, we discuss the following:

• Comments on rating changes in this week’s chart books, including our new stance on many crytocurrencies
• The strong start to the year for construction spending and how to take advantage

Subscribe now and we’ll send this outlook to you.

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

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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