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Stock Market Outlook for March 28, 2022


Quarter-end mean reversion in the equity market is reaching maturity and it’s time to consider our next move.

 

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:

Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here.

Donnelley R R & Sons Co. (NYSE:RRD) Seasonal Chart

Donnelley R R & Sons Co. (NYSE:RRD) Seasonal Chart

Enerplus Corp. (TSE:ERF.TO) Seasonal Chart

Enerplus Corp. (TSE:ERF.TO) Seasonal Chart

Invesco Dynamic Oil & Gas Services ETF (NYSE:PXJ) Seasonal Chart

Invesco Dynamic Oil & Gas Services ETF (NYSE:PXJ) Seasonal Chart

SPDR S&P Oil & Gas Equipment & Services ETF (NYSE:XES) Seasonal Chart

SPDR S&P Oil & Gas Equipment & Services ETF (NYSE:XES) Seasonal Chart

Occidental Petroleum Corp. (NYSE:OXY) Seasonal Chart

Occidental Petroleum Corp. (NYSE:OXY) Seasonal Chart

Cenovus Energy Inc. (NYSE:CVE) Seasonal Chart

Cenovus Energy Inc. (NYSE:CVE) Seasonal Chart

Boise Cascade Co. (NYSE:BCC) Seasonal Chart

Boise Cascade Co. (NYSE:BCC) Seasonal Chart

ProShares Ultra NASDAQ Biotechnology (NASD:BIB) Seasonal Chart

ProShares Ultra NASDAQ Biotechnology (NASD:BIB) Seasonal Chart

 

 

The Markets

Stocks closed higher on Friday, capping off another positive week for the equity market despite tremendous adversities pertaining to geopolitical tensions and rising rates.  The S&P 500 Index added half of one percent, closing back at its now declining 100-day moving average.  Levels above the 200-day continue to stick as support, for now, as the mean reversion into the end of the quarter seemingly defies expectations.  Momentum indicators remain on the rise having broken above declining trendline resistance in the past few sessions, however, the MACD histogram has stopped expanding, hinting that the mean reversion rally has matured.  We’ve certainly benefitted nicely from this end-of quarter tendency, but we are looking out for our next move.

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

  • Weekly look at the large-cap benchmark and our thoughts pertaining to the progression of the mean reversion trade from here
  • The change we are enacting in the Super Simple Seasonal Portfolio
  • A look at the risks we are watching that could set the stage for the next down-leg in stocks
  • European equities
  • Banks and insurance stocks

Subscribe now and we’ll send this outlook to you.

Sentiment on Friday, as gauged by the put-call ratio, ended bullish at 0.87.

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Seasonal charts of companies reporting earnings today:

Jefferies Financial Group Inc. Seasonal Chart SCIENCE APPLICATIONS INTERNATIONAL CORPORATION Seasonal Chart Dave & Buster's Entertainment, Inc. Seasonal Chart Fanhua Inc. Seasonal Chart

 

 

S&P 500 Index

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TSE Composite

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