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Stock Market Outlook for October 29, 2021


High Beta is back on an outperforming path versus Low Volatility, conducive to a risk-on bias in the market.

 

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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Analog Devices, Inc. (NASD:ADI) Seasonal Chart

Analog Devices, Inc. (NASD:ADI) Seasonal Chart

Equifax, Inc. (NYSE:EFX) Seasonal Chart

Equifax, Inc. (NYSE:EFX) Seasonal Chart

Dorel Industries Inc. - Class B (TSE:DII/B.TO) Seasonal Chart

Dorel Industries Inc. – Class B (TSE:DII/B.TO) Seasonal Chart

Vulcan Materials Co. (NYSE:VMC) Seasonal Chart

Vulcan Materials Co. (NYSE:VMC) Seasonal Chart

Canfor Corp. (TSE:CFP.TO) Seasonal Chart

Canfor Corp. (TSE:CFP.TO) Seasonal Chart

Churchill Downs, Inc. (NASD:CHDN) Seasonal Chart

Churchill Downs, Inc. (NASD:CHDN) Seasonal Chart

Martin Marietta Materials (NYSE:MLM) Seasonal Chart

Martin Marietta Materials (NYSE:MLM) Seasonal Chart

Brunswick Corp. (NYSE:BC) Seasonal Chart

Brunswick Corp. (NYSE:BC) Seasonal Chart

Copart, Inc. (NASD:CPRT) Seasonal Chart

Copart, Inc. (NASD:CPRT) Seasonal Chart

Heartland Express, Inc. (NASD:HTLD) Seasonal Chart

Heartland Express, Inc. (NASD:HTLD) Seasonal Chart

NXP Semiconductor N.V. (NASD:NXPI) Seasonal Chart

NXP Semiconductor N.V. (NASD:NXPI) Seasonal Chart

iShares Core S&P Total US Stock Market ETF (NYSE:ITOT) Seasonal Chart

iShares Core S&P Total US Stock Market ETF (NYSE:ITOT) Seasonal Chart

SPDR S&P Midcap 400 ETF (NYSE:MDY) Seasonal Chart

SPDR S&P Midcap 400 ETF (NYSE:MDY) Seasonal Chart

CIGNA Corp. (NYSE:CI) Seasonal Chart

CIGNA Corp. (NYSE:CI) Seasonal Chart

Genuine Parts Co. (NYSE:GPC) Seasonal Chart

Genuine Parts Co. (NYSE:GPC) Seasonal Chart

Cemex SA (NYSE:CX) Seasonal Chart

Cemex SA (NYSE:CX) Seasonal Chart

Cooper Tire & Rubber Co. (NYSE:CTB) Seasonal Chart

Cooper Tire & Rubber Co. (NYSE:CTB) Seasonal Chart

Beacon Roofing Supply Inc. (NASD:BECN) Seasonal Chart

Beacon Roofing Supply Inc. (NASD:BECN) Seasonal Chart

Owens Corning Inc. (NYSE:OC) Seasonal Chart

Owens Corning Inc. (NYSE:OC) Seasonal Chart

iShares North American Tech-Multimedia Networking ETF (NYSE:IGN) Seasonal Chart

iShares North American Tech-Multimedia Networking ETF (NYSE:IGN) Seasonal Chart

Vanguard S&P Mid-Cap 400 Value ETF (NYSE:IVOV) Seasonal Chart

Vanguard S&P Mid-Cap 400 Value ETF (NYSE:IVOV) Seasonal Chart

iShares Russell 3000 ETF (NYSE:IWV) Seasonal Chart

iShares Russell 3000 ETF (NYSE:IWV) Seasonal Chart

Vanguard Industrials ETF (NYSE:VIS) Seasonal Chart

Vanguard Industrials ETF (NYSE:VIS) Seasonal Chart

Industrial Select Sector SPDR Fund (NYSE:XLI) Seasonal Chart

Industrial Select Sector SPDR Fund (NYSE:XLI) Seasonal Chart

 

 

The Markets

Stocks snapped back on Thursday as earnings results continue to keep traders in buying mode.  The S&P 500 Index gained just less than one percent, charting a fresh record closing high and reaching back towards psychological resistance that was tested in the previous session around 4600.  The strength of the trend of momentum indicators has started to wane into the last few days of the month as portfolio managers seek to rebalance their books ahead of the end of the period.  Still, there is little standing in the way of stocks at this juncture, despite these record high levels, and the market remains setup well to realize the strength that is notorious for the last couple of months of the year.  Short and intermediate levels of support can continue to be pegged to 20 and 50-day moving averages, which are converging on one another around 4455.

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

  • Caterpillar (CAT) stock
  • The correlation of Caterpillar to emerging market stocks
  • High Beta versus Low Volatility stocks
  • Average performance of the S&P 500 Index following the first anniversary of a recession market low and what to expect ahead
  • S&P 500 Index during post presidential years
  • Weekly jobless claims and the health of the labor market
  • Natural gas inventories and the price of the commodity
  • Investor sentiment

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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.66. 

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Seasonal charts of companies reporting earnings today:

Exxon Mobil Corporation Seasonal Chart Chevron Corporation Seasonal Chart AbbVie Inc. Seasonal Chart Charter Communications, Inc. Seasonal Chart Aon plc Seasonal Chart Colgate-Palmolive Company Seasonal Chart L3Harris Technologies, Inc. Seasonal Chart Phillips 66 Seasonal Chart LyondellBasell Industries NV Seasonal Chart Weyerhaeuser Company Seasonal Chart Imperial Oil Limited Seasonal Chart W.W. Grainger, Inc. Seasonal Chart Royal Caribbean Group Seasonal Chart Cerner Corporation Seasonal Chart Fortis Inc. Seasonal Chart Church & Dwight Company, Inc. Seasonal Chart W. P. Carey Inc. Seasonal Chart Shaw Communications Inc. Seasonal Chart Cboe Global Markets, Inc. Seasonal Chart Booz Allen Hamilton Holding Corporation Seasonal Chart Cameco Corporation Seasonal Chart Newell Brands Inc. Seasonal Chart Phillips 66 Partners LP Seasonal Chart Banco Santander Chile Seasonal Chart Huntsman Corporation Seasonal Chart Lazard Ltd. Seasonal Chart Balchem Corporation Seasonal Chart Shell Midstream Partners, L.P. Seasonal Chart Carter's, Inc. Seasonal Chart Portland General Electric Company Seasonal Chart PNM Resources, Inc. (Holding Co.) Seasonal Chart Piper Sandler Companies Seasonal Chart Arbor Realty Trust Seasonal Chart Barnes Group, Inc. Seasonal Chart Provident Financial Services, Inc Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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