Contact | RSS Feed

Stock Market Outlook for November 3, 2022


Short-term rising trend of the S&P 500 Index stemming from the mid-October low has been broken.

 

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.

Cameco Corp. (TSE:CCO.TO) Seasonal Chart

Cameco Corp. (TSE:CCO.TO) Seasonal Chart

CIT Group Inc. (NYSE:CIT) Seasonal Chart

CIT Group Inc. (NYSE:CIT) Seasonal Chart

Motorcar Parts of America Inc. (NASD:MPAA) Seasonal Chart

Motorcar Parts of America Inc. (NASD:MPAA) Seasonal Chart

Marinemax, Inc. (NYSE:HZO) Seasonal Chart

Marinemax, Inc. (NYSE:HZO) Seasonal Chart

Ritchie Bros. Auctioneers Inc. (TSE:RBA.TO) Seasonal Chart

Ritchie Bros. Auctioneers Inc. (TSE:RBA.TO) Seasonal Chart

Cargojet Inc. (TSE:CJT.TO) Seasonal Chart

Cargojet Inc. (TSE:CJT.TO) Seasonal Chart

Oshkosh Corp. (NYSE:OSK) Seasonal Chart

Oshkosh Corp. (NYSE:OSK) Seasonal Chart

Yamana Gold Inc. (TSE:YRI.TO) Seasonal Chart

Yamana Gold Inc. (TSE:YRI.TO) Seasonal Chart

CI Financial Corp. (TSE:CIX.TO) Seasonal Chart

CI Financial Corp. (TSE:CIX.TO) Seasonal Chart

 

 

 

The Markets

Stocks flipped sharply lower on Wednesday as the market interpreted the comments from Fed Chair Powell following the latest FOMC meeting as being hawkish and that the Fed is still positioned to aggressively fight persistent inflationary pressures through ongoing monetary policy tightening.  The S&P 500 Index closed down by 2.50%, turning lower from resistance at the declining 100-day moving average and slicing back below its 50-day that attempted to hold support coming into this week.  The benchmark is now reaching back towards short-term support at its 20-day moving average at 3730.  Momentum indicators are showing signs of rolling over following the recent rebound from the mid-October low, threatening a sell signal in the days ahead.

image

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

  • The violation of the rising short-term trend on the S&P 500 Index
  • Subdued reaction in the bond market following the Fed event
  • Weekly petroleum status, the price of oil, and how to play the energy sector from a seasonal perspective
  • US Vehicle Sales and the seasonal trade in the stocks of the Auto Makers

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for November 3

Not signed up yet?  Subscribe now to receive full access to all of the research and analysis that we publish.

Sentiment on Wednesday, as gauged by the put-call ratio, ended overly bearish at 1.21.

image

 

 

 

 

Seasonal charts of companies reporting earnings today:

ConocoPhillips Seasonal Chart Amgen Inc. Seasonal Chart Starbucks Corporation Seasonal Chart Cigna Corporation Seasonal Chart PayPal Holdings, Inc. Seasonal Chart Regeneron Pharmaceuticals, Inc. Seasonal Chart EOG Resources, Inc. Seasonal Chart Zoetis Inc. Seasonal Chart Moderna, Inc. Seasonal Chart Air Products and Chemicals, Inc. Seasonal Chart Intercontinental Exchange Inc. Seasonal Chart Marriott International Seasonal Chart Fidelity National Information Services, Inc. Seasonal Chart Monster Beverage Corporation Seasonal Chart Atlassian Corporation Seasonal Chart Sempra Seasonal Chart MercadoLibre, Inc. Seasonal Chart Cheniere Energy, Inc. Seasonal Chart BCE, Inc. Seasonal Chart Motorola Solutions, Inc. Seasonal Chart Johnson Controls International plc Seasonal Chart Exelon Corporation Seasonal Chart Parker-Hannifin Corporation Seasonal Chart Block, Inc. Seasonal Chart Cummins Inc. Seasonal Chart Illumina, Inc. Seasonal Chart Microchip Technology Incorporated Seasonal Chart AmerisourceBergen Corporation (Holding Co) Seasonal Chart Consolidated Edison Inc Seasonal Chart Cheniere Energy Partners, LP Seasonal Chart Mettler-Toledo International, Inc. Seasonal Chart Barrick Gold Corporation Seasonal Chart Kellogg Company Seasonal Chart Aptiv PLC Seasonal Chart AvalonBay Communities, Inc. Seasonal Chart Coterra Energy Inc. Seasonal Chart Ameren Corporation Seasonal Chart Quanta Services, Inc. Seasonal Chart EPAM Systems, Inc. Seasonal Chart

 

 

S&P 500 Index

image

image

 

 

TSE Composite

image

image

 

Sponsored By...
Seasonal Advantage Portfolio by CastleMoore

Comments are closed.