Equity Clock

Stock Market Outlook for November 9, 2021

Infrastructure beneficiaries were the big winners during Monday’s session, just in time for the start of the optimal holding periods for each around the middle of November.

 

 

 

*** 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.

Badger Daylighting Ltd. (TSE:BAD.TO) Seasonal Chart

Mack-Cali Realty Corp. (NYSE:CLI) Seasonal Chart

New York Community Bancorp (NYSE:NYCB) Seasonal Chart

Penske Automotive Group Inc (NYSE:PAG) Seasonal Chart

Credit Suisse Group (NYSE:CS) Seasonal Chart

Innodata Inc. (NASD:INOD) Seasonal Chart

iShares FactorSelect MSCI Global ETF (AMEX:ACWF) Seasonal Chart

First Trust Germany AlphaDEX Fund (NASD:FGM) Seasonal Chart

Invesco International BuyBack Achievers ETF (NASD:IPKW) Seasonal Chart

iShares Russell 2000 Value ETF (NYSE:IWN) Seasonal Chart

SPDR S&P Homebuilders ETF (NYSE:XHB) Seasonal Chart

 

 

The Markets

Another day of gains for major equity benchmarks as investors embraced the approval of the $1.2 Trillion infrastructure bill by congress.  The S&P 500 Index added a tenth of one percent, led by core cyclical sectors of the market as investors continue to adopt this risk-on bias that has proliferated over the past month and a half.   The benchmark continues to bump up against the underside of rising trendline resistance, which is reaching closer to 4750.  Support can continue to be pegged at rising 20 and 50-day moving averages at 4557 and 4481, respectively.  The benchmark has become significantly overbought, but this is not deterring investors from pushing this market higher.  Seasonally, the market is in to a bit of a softer time of the year ahead of the Thanksgiving holiday at the end of the month, which could lead to some digestion in the interim.  However, whether the market pulls back or not, short, intermediate, and long-term trends remain positive.

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

• Infrastructure beneficiaries jumping and the optimal holding period for each
• Notable changes in this week’s chart books; Find out what has been upgraded to our list of segments to Accumulate this week
• The Crypto-Currency that has joined our Accumulate list and the period of strength for Bitcoin
• The breakdown in the Utilities sector and when you should be on the lookout for an opportunity to gain exposure (the same applies to Staples and REITs)
• Investor sentiment

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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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Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.63. 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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