Contact | RSS Feed

Stock Market Outlook for November 22, 2022

A bear-flag pattern on the chart of Bitcoin projects a target back to the pandemic breakout level around 12,500.

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.

VanEck Vectors Low Carbon Energy ETF (AMEX:SMOG) Seasonal Chart

VanEck Vectors Low Carbon Energy ETF (AMEX:SMOG) Seasonal Chart

Cohen & Steers Quality Income Realty Fund Inc. (NYSE:RQI) Seasonal Chart

Cohen & Steers Quality Income Realty Fund Inc. (NYSE:RQI) Seasonal Chart

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Seasonal Chart

Zimmer Biomet Holdings, Inc. (NYSE:ZBH) Seasonal Chart

Cleveland-Cliffs Inc (NYSE:CLF) Seasonal Chart

Cleveland-Cliffs Inc (NYSE:CLF) Seasonal Chart

FreightCar America Inc. (NASD:RAIL) Seasonal Chart

FreightCar America Inc. (NASD:RAIL) Seasonal Chart

Acadia Pharmaceuticals Inc. (NASD:ACAD) Seasonal Chart

Acadia Pharmaceuticals Inc. (NASD:ACAD) Seasonal Chart

Arrow Electronics Inc. (NYSE:ARW) Seasonal Chart

Arrow Electronics Inc. (NYSE:ARW) Seasonal Chart

 

 

The Markets

Stocks closed mildly lower on Monday as a dip in energy shares and ongoing hesitation in growth segments of the market (eg. technology, communication services, consumer discretionary) weighed on border market benchmarks.  The S&P 500 Index slipped by four-tenths of one percent, continuing to consolidate above previous horizontal resistance, now support, at 3900.  The horizontal hurdle represents the upper bound to a cup-and-handle pattern, a bullish setup that projects an upside target towards 4200.  The short-term trend of the benchmark is still deemed to be positive, supported by the rising 20-day moving average.  Momentum indicators are similarly showing a positive slope, attempting to relinquish the characteristics of a bearish trend that have plagued the benchmark all year.  Declining long-term resistance at the 200-day moving average, as well as trendline resistance at 4100, are the significant hurdles on the upside.

image

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

  • Bull-flag pattern for the S&P 500 Index and bear-flag pattern for Bitcoin
  • Disappointing breadth in the technology sector
  • Ratings changes in this week’s chart books: Find out what has been upgraded to Accumulate this week and how to gain exposure via an ETF

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for November 22

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

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.

Subscribe now.

Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.86.

image

 

Seasonal charts of companies reporting earnings today:

Medtronic plc Seasonal Chart Analog Devices, Inc. Seasonal Chart Autodesk, Inc. Seasonal Chart Dollar Tree, Inc. Seasonal Chart Baidu, Inc. Seasonal Chart HP Inc. Seasonal Chart Best Buy Co., Inc. Seasonal Chart Burlington Stores, Inc. Seasonal Chart Dick's Sporting Goods Inc Seasonal Chart Vipshop Holdings Limited Seasonal Chart PagSeguro Digital Ltd. Seasonal Chart Nordstrom, Inc. Seasonal Chart Canadian Solar Inc. Seasonal Chart American Eagle Outfitters, Inc. Seasonal Chart Jack In The Box Inc. Seasonal Chart Guess?, Inc. Seasonal Chart Abercrombie & Fitch Company Seasonal Chart American Woodmark Corporation Seasonal Chart Chico's FAS, Inc. Seasonal Chart VNET Group, Inc. Seasonal Chart Movado Group Inc. Seasonal Chart Banco BBVA Argentina S.A. Seasonal Chart

 

S&P 500 Index

image

image

 

TSE Composite

image

image

 

Sponsored By...
Seasonal Advantage Portfolio by CastleMoore

Comments are closed.