Stock Market Outlook for February 3, 2022
Risk aversion re-emerged on Wednesday as some of the more speculative segments of the market turned lower from short-term levels of resistance.
*** 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.
Rent-A-Center, Inc. (NASD:RCII) Seasonal Chart
HanesBrands, Inc. (NYSE:HBI) Seasonal Chart
Entegris, Inc. (NASD:ENTG) Seasonal Chart
Points Intl Ltd. (TSE:PTS.TO) Seasonal Chart
The Markets
Stocks continued to claw their way out of the hole that was dug in the month of January as the positivity that plays out in the market in the last week of January and the first week of February progresses according to schedule. The S&P 500 Index added just over nine-tenths of one percent, breaking back above the 100-day moving average and inching closer to the declining 50-day. Momentum indicators remain that of lower-lows and lower-highs, suggesting a certain level of top-heaviness to the equity market remains.
Today, in our Market Outlook to subscribers, we discuss the following:
- Risk aversion re-emerging in the market
- The rotation opportunity in the Super Simple Seasonal Portfolio
- US Petroleum Status
- US Vehicle Sales
Subscribe now and we’ll send this outlook to you.
Sentiment on Wednesday, as gauged by the put-call ratio, ended neutral at 0.98.
Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
| Sponsored By... |
|
