Equity Clock

Stock Market Outlook for November 17, 2021

Strong consumer + robust manufacturing demand = remaining exposed to cyclical segments of the equity market.

 

 

 

*** 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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Regions Financial Corp. (NYSE:RF) Seasonal Chart

Just Energy Group Inc. (TSE:JE.TO) Seasonal Chart

Gray Television, Inc. (NYSE:GTN) Seasonal Chart

Canadian Solar Inc. (NASD:CSIQ) Seasonal Chart

Points Intl., Inc. (NASD:PCOM) Seasonal Chart

AgroFresh Solutions, Inc. (NASD:AGFS) Seasonal Chart

Direxion Daily Real Estate Bull 3x Shares (NYSE:DRN) Seasonal Chart

First Trust NASDAQ Clean Edge Green Energy Index Fund (NASD:QCLN) Seasonal Chart

Global X SuperDividend ETF (AMEX:SDIV) Seasonal Chart

 

 

The Markets

Stocks grinded higher on Tuesday following a strong read of retail sales in the US for the month of October.  The S&P 500 Index drifted higher to the tune of four-tenths of one percent, reaching back towards the all-time high charted a week and a half ago around 4718.  Support at rising 20 and 50-day moving averages can be pegged at 4627 and 4498, respectively.  In the past few days, we have seen the benchmark hold the lower limit of the previous broken rising trading range that carried the benchmark through much of the year.  That rising hurdle can now be seen at 4650.  Rising trendline resistance remains apparent just above 4750.  While sitting with our bullish bets that were enacted around the end of September may seem boring as opposed to trading back and forth between various market segments, it continues to work and is generating significant returns for portfolio positions.  The market continues to setup well for the next seasonal boost in the last week of November and the first week of December following this mid-month consolidation pattern.

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

• US Retail Sales and the seasonal trade in retail stocks
• US Industrial Production and the trends within that point to the areas of the market that should be of focus to investment portfolios for the remainder of the fourth quarter
• Examining the breakout of this rarely profiled industry as intermediate levels of resistance start to crack and how we desire to play this group

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Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.79.

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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