Stock Market Outlook for February 9, 2022
Some of the riskiest areas of the market are trying to stabilize after weakening since November.
*** 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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Iridium Communications Inc. (NASD:IRDM) Seasonal Chart
Southside Bancshares, Inc. (NASD:SBSI) Seasonal Chart
Ctrip.com Intl Ltd. (NASD:TCOM) Seasonal Chart
Genco Shipping & Trading Ltd. (NYSE:GNK) Seasonal Chart
iShares MSCI France ETF (NYSE:EWQ) Seasonal Chart
The Markets
Stocks closed higher on Tuesday as investors wait for the result of the latest consumer price index report to be released on Thursday. The S&P 500 Index traded higher by just over eight-tenths of one percent, remaining pinned to levels around the 20-day moving average. Support at the rising 200-day is gradually solidifying. Momentum indicators, while still showing characteristics of a bearish trend, continuing to rebound from the oversold lows that were charted at the end of January.
Today, in our Market Outlook to subscribers, we discuss the following:
- The pattern on the hourly chart of the S&P 500 Index that points to a big move ahead
- Riskiest areas of the market that led the early year weakness starting to peg a low
- Ratio of Emerging Market equities over Developed
- Ratio of Banks over REITs
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Sentiment on Tuesday, as gauged by the put-call ratio, ended neutral at 0.99.
Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
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