Equity Clock

Stock Market Outlook for April 9, 2021

After more than a month, large-cap technology has charted a new record high, but fundamental trends suggest other sectors are more appropriate to hold in your portfolio at this time of year.

 

 

 

*** 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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Cintas Corp. (NASD:CTAS) Seasonal Chart

Strategic Education, Inc. (NASD:STRA) Seasonal Chart

MoneyGram Intl, Inc. (NASD:MGI) Seasonal Chart

MannKind Corp. (NASD:MNKD) Seasonal Chart

Support.com, Inc. (NASD:SPRT) Seasonal Chart

RGC Resources, Inc. (NASD:RGCO) Seasonal Chart

Invesco DWA Consumer Staples Momentum ETF (NASD:PSL) Seasonal Chart

AeroVironment Inc. (NASD:AVAV) Seasonal Chart

Group I Automotive Inc. (NYSE:GPI) Seasonal Chart

Lithia Motors, Inc. (NYSE:LAD) Seasonal Chart

Grand Canyon Education Inc. (NASD:LOPE) Seasonal Chart

Cowen, Inc. (NASD:COWN) Seasonal Chart

New York Mortgage Trust Inc. (NASD:NYMT) Seasonal Chart

Invesco S&P SmallCap Consumer Discretionary ETF (NASD:PSCD) Seasonal Chart

 

 

The Markets

Stocks once again pushed higher on Thursday as investors continue to find ways to position in this market.  The S&P 500 Index added four-tenths of one percent, reaching towards another key hurdle at 4100 near the highs of the session.  The large-cap benchmark continues to push towards the upper limit of its rising range that hovers between 3950 and 4150.  Momentum indicators continue to flirt with overbought territory, but have not quite reached this classification, at least according to the Relative Strength Index (RSI).  Support remains defined at the rising 50-day moving average.

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

• The breakout of large-cap technology and the hint of risk aversion that the latest rotation suggests
• New lows for high-yield credit spreads
• Weekly jobless claims: should you be concerned by the recent rise in initial claims?
• Natural gas inventories and what the fundamental trend says about whether or not to be invested in the period of seasonal strength for the commodity.

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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.72.

 

 

Seasonal charts of companies reporting earnings today:

• No significant earnings scheduled for today

 

S&P 500 Index

 

 

TSE Composite

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