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Stock Market Outlook for January 26, 2023

Bank of Canada is pausing and the Fed is expected to suggest the same: Study shows that the best performing investment 3 to 6 months after the last rate hike is bonds.  The worst: Gold.

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.

Visa Inc. (NYSE:V) Seasonal Chart

Visa Inc. (NYSE:V) Seasonal Chart

Parke Bancorp Inc. (NASD:PKBK) Seasonal Chart

Parke Bancorp Inc. (NASD:PKBK) Seasonal Chart

Gladstone Land Corp. (NASD:LAND) Seasonal Chart

Gladstone Land Corp. (NASD:LAND) Seasonal Chart

Box, Inc. (NYSE:BOX) Seasonal Chart

Box, Inc. (NYSE:BOX) Seasonal Chart

e.l.f. Beauty, Inc. (NYSE:ELF) Seasonal Chart

e.l.f. Beauty, Inc. (NYSE:ELF) Seasonal Chart

 

 

The Markets

Stocks closed little changed on Wednesday in what was a reversal session starting from a sharp dip at the opening bell amidst concerns pertaining to the guidance from tech titan Microsoft (MSFT).  The large-cap index closed essentially unchanged, lower by a mere two basis points (0.02%).  The benchmark remains marginally above previous declining trendline resistance and the 200-day moving average, both of which had worked to cap any upside attempt over the past year.  At the lows of the session, the benchmark reached back to the 20 and 50-day moving averages at 3914 and 3939, respectively, which are keeping the short to intermediate-term rising paths alive, for now.  The 50-day moving average is quickly converging on the 200-day moving average in what could become a bullish crossover event, but, as alluded to in our last report, buying these supposedly bullish technical events have traditionally led to poor entry points.  The technicals continue to provide a rather neutral view with momentum indicators narrowing around their middle lines.  The market appears to be searching for a catalyst following the mean reversion to start the year.

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

  • Hourly look at the large-cap benchmark
  • The average performance of bonds, stocks, and gold following the last Fed rate hike
  • The debate over whether we are in an inflationary or disinflationary environment and what it traditionally takes to get the annual rise in consumer prices back to the 2% band that the Fed desires
  • The state of supply and demand in the energy market and the stocks that are exposed

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for January 26

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 neutral at 0.99.

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Seasonal charts of companies reporting earnings today:

Visa Inc. Seasonal Chart Mastercard Incorporated Seasonal Chart Comcast Corporation Seasonal Chart SAP SE Seasonal Chart Intel Corporation Seasonal Chart Marsh & McLennan Companies, Inc. Seasonal Chart Northrop Grumman Corporation Seasonal Chart Blackstone Inc. Seasonal Chart Sherwin-Williams Company (The) Seasonal Chart KLA Corporation Seasonal Chart Valero Energy Corporation Seasonal Chart Archer-Daniels-Midland Company Seasonal Chart Arthur J. Gallagher & Co. Seasonal Chart Nucor Corporation Seasonal Chart STMicroelectronics N.V. Seasonal Chart Xcel Energy Inc. Seasonal Chart L3Harris Technologies, Inc. Seasonal Chart ResMed Inc. Seasonal Chart Rockwell Automation, Inc. Seasonal Chart T. Rowe Price Group, Inc. Seasonal Chart Nokia Corporation Seasonal Chart Tractor Supply Company Seasonal Chart Weyerhaeuser Company Seasonal Chart Southwest Airlines Company Seasonal Chart McCormick & Company, Incorporated Seasonal Chart W.R. Berkley Corporation Seasonal Chart Eastman Chemical Company Seasonal Chart American Airlines Group, Inc. Seasonal Chart Knight Transportation, Inc. Seasonal Chart Robert Half International Inc. Seasonal Chart Olin Corporation Seasonal Chart Old Republic International Corporation Seasonal Chart Murphy Oil Corporation Seasonal Chart Alaska Air Group, Inc. Seasonal Chart Eagle Materials Inc Seasonal Chart Applied Industrial Technologies, Inc. Seasonal Chart

 

S&P 500 Index

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TSE Composite

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