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Stock Market Outlook for February 14, 2023

Gauges of risk-sentiment in the market at a pivotal point heading into the release of Tuesday’s CPI report.

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:

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Molson Coors Brewing Co. (NYSE:TAP) Seasonal Chart

Molson Coors Brewing Co. (NYSE:TAP) Seasonal Chart

Thomson Reuters Corp. (TSE:TRI.TO) Seasonal Chart

Thomson Reuters Corp. (TSE:TRI.TO) Seasonal Chart

Mercury General Corp. (NYSE:MCY) Seasonal Chart

Mercury General Corp. (NYSE:MCY) Seasonal Chart

Limoneira Co. (NASD:LMNR) Seasonal Chart

Limoneira Co. (NASD:LMNR) Seasonal Chart

Forrester Research, Inc. (NASD:FORR) Seasonal Chart

Forrester Research, Inc. (NASD:FORR) Seasonal Chart

Canadian Tire Corp, Ltd. (TSE:CTC/A.TO) Seasonal Chart

Canadian Tire Corp, Ltd. (TSE:CTC/A.TO) Seasonal Chart

WisdomTree Europe Hedged Equity Fund (NYSE:HEDJ) Seasonal Chart

WisdomTree Europe Hedged Equity Fund (NYSE:HEDJ) Seasonal Chart

iShares International Developed Property ETF (NYSE:WPS) Seasonal Chart

iShares International Developed Property ETF (NYSE:WPS) Seasonal Chart

 

 

The Markets

Stocks closed higher to start the week as investors brace for the latest read of inflationary pressures scheduled to be released on Tuesday by way of the Consumer Price Index (CPI).  The S&P 500 Index ended with a gain of 1.14%, continuing to bounce from the rising 20-day moving average that was tested as support on Friday.  The consolidation around the 4100 pivot point continues, providing enough food for thought to the bulls and the bears to maintain their conviction into the important economic data points ahead.  Below the rising 20-day moving average, a cloud of moving averages between 3900 and 4000 are in a position to support a retracement, as is normal from a seasonal perspective through the remainder of February.  MACD triggered a fresh sell signal on Friday with a cross below its signal line, charting a divergence versus price, a signal of waning buying demand.  MACD has yet to achieve a higher-high since August, but a lower-low has similarly been absent, conducive to this neutral state that the benchmark remains.

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

  • A look at gauges of risk sentiment in the market
  • The rebound in the Volatility Index above an important level of resistance
  • Bull-flag pattern on the chart of the US Dollar Index
  • Rating changes in this week’s chart books: Find out what directional bets we are placing this week, both bearish and bullish

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for February 14

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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.

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Sentiment on Monday, as gauged by the put-call ratio, ended bullish at 0.94.

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Seasonal charts of companies reporting earnings today:

Coca-Cola Company (The) Seasonal Chart Zoetis Inc. Seasonal Chart Marriott International Seasonal Chart Suncor Energy Inc. Seasonal Chart Ecolab Inc. Seasonal Chart Devon Energy Corporation Seasonal Chart TC Energy Corporation Seasonal Chart Exelon Corporation Seasonal Chart Restaurant Brands International Inc. Seasonal Chart PerkinElmer, Inc. Seasonal Chart Howmet Aerospace Inc. Seasonal Chart Leidos Holdings, Inc. Seasonal Chart Akamai Technologies, Inc. Seasonal Chart TransUnion Seasonal Chart GoDaddy Inc. Seasonal Chart Entegris, Inc. Seasonal Chart Service Corporation International Seasonal Chart Cleveland-Cliffs Inc. Seasonal Chart WESCO International, Inc. Seasonal Chart Ternium S.A. Seasonal Chart West Fraser Timber Co. Ltd Seasonal Chart CAE Inc Seasonal Chart IPG Photonics Corporation Seasonal Chart Magnolia Oil & Gas Corporation Seasonal Chart Hawaiian Electric Industries, Inc. Seasonal Chart Herc Holdings Inc. Seasonal Chart BlackLine, Inc. Seasonal Chart Franklin Electric Co., Inc. Seasonal Chart Triton International Limited Seasonal Chart Peabody Energy Corporation Seasonal Chart TripAdvisor, Inc. Seasonal Chart Comstock Resources, Inc. Seasonal Chart

 

S&P 500 Index

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TSE Composite

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