Equity Clock

Stock Market Outlook for March 19, 2021

We’ve gotten our shopping list ready as we watch desired positions turn towards levels of support.

 

 

 

*** 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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Constellation Brands, Inc. (NYSE:STZ) Seasonal Chart

Boardwalk Equities, Inc. (TSE:BEI/UN.TO) Seasonal Chart

Apollo Commercial Real Estate Finance, Inc. (NYSE:ARI) Seasonal Chart

Genesco, Inc. (NYSE:GCO) Seasonal Chart

AGNC Investment Corp. (NASD:AGNC) Seasonal Chart

Invesco Taxable Municipal Bond ETF (NYSE:BAB) Seasonal Chart

ProShares Ultra Oil And Gas (NYSE:DIG) Seasonal Chart

iShares MSCI Singapore ETF (NYSE:EWS) Seasonal Chart

First Trust S&P International Dividend Aristocrats ETF (NASD:FID) Seasonal Chart

SPDR S&P Global Infrastructure ETF (NYSE:GII) Seasonal Chart

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (AMEX:GUSH) Seasonal Chart

iShares Global Infrastructure Index ETF (NASD:IGF) Seasonal Chart

iShares Long-Term Corporate Bond ETF (AMEX:IGLB) Seasonal Chart

Invesco DWA Emerging Markets Momentum ETF (NASD:PIE) Seasonal Chart

SPDR Dow Jones Global Real Estate ETF (NYSE:RWO) Seasonal Chart

SPDR Barclays Long Term Corporate Bond ETF (AMEX:SPLB) Seasonal Chart

iShares Core US REIT ETF (AMEX:USRT) Seasonal Chart

Vanguard Long-Term Corporate Bond ETF (NASD:VCLT) Seasonal Chart

Vident International Equity Fund (AMEX:VIDI) Seasonal Chart

North West Co. Inc. (TSE:NWC.TO) Seasonal Chart

DENTSPLY Intl Inc. (NASD:XRAY) Seasonal Chart

WEX Inc. (NYSE:WEX) Seasonal Chart

Brookfield Renewable Partners LP (NYSE:BEP) Seasonal Chart

ProShares Ultra High Yield (NYSE:UJB) Seasonal Chart

Invesco S&P Spin-Off ETF (NYSE:CSD) Seasonal Chart

Invesco Zacks Multi-Asset Income ETF (NYSE:CVY) Seasonal Chart

First Trust High Income ETF (NASD:DDIV) Seasonal Chart

Fidelity MSCI Real Estate Index ETF (AMEX:FREL) Seasonal Chart

Gabelli Dividend & Income Trust (NYSE:GDV) Seasonal Chart

iShares Core High Dividend ETF (NYSE:HDV) Seasonal Chart

Invesco FTSE RAFI US 1000 ETF (NYSE:PRF) Seasonal Chart

ProShares Ultra Utilities (NYSE:UPW) Seasonal Chart

 

 

The Markets

Stocks sold off on Thursday as rate fears once again rattled investor sentiment.  The S&P 500 Index dropped by 1.48%, pulling back from all-time highs charted in the previous session.  The benchmark is poised to test levels of variable support below, including the 20-day moving average at 3886 and the 50-day moving average at 3858.  Horizontal support can be seen around 3700, however, as we have noted, downside risks for the large-cap benchmark remain all the way down to previous resistance, now support, at 3550.  Momentum indicators have been negatively diverging from price for a few months, indicating waning buying demand.  We continue to welcome weakness in equity prices between now and the end of the quarter as an opportunity to raise our risk metrics ahead of the month of April.  As of today, we like our chances.  A washout of euphoric sentiment and an alleviation of overbought equity prices would provide the perfect opportunity to reload for the longer-term positive trend for stocks.

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

• Our shopping list of things to buy on this market pullback and at what levels to buy them
• On the radar ETFs for April
• Weekly jobless claims and what the results say about the progression of the economic recovery
• Natural gas inventories and where they fit within our three-pronged approach
• Philadelphia Fed Manufacturing Index and what it has to say about our desired equity market exposure into the spring

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

Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.75.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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