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Stock Market Outlook for April 11, 2023

Evidence suggests that the trends of employment are normalizing following the abnormally mild winter that helped to support activity in January and February.

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*** 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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Humana, Inc. (NYSE:HUM) Seasonal Chart

Humana, Inc. (NYSE:HUM) Seasonal Chart

Morningstar Inc. (NASD:MORN) Seasonal Chart

Morningstar Inc. (NASD:MORN) Seasonal Chart

Cowen, Inc. (NASD:COWN) Seasonal Chart

Cowen, Inc. (NASD:COWN) Seasonal Chart

Fidelity Momentum Factor ETF (AMEX:FDMO) Seasonal Chart

Fidelity Momentum Factor ETF (AMEX:FDMO) Seasonal Chart



The Markets

Stocks closed fairly mixed on Monday as investors received their first opportunity to react to March’s payroll report that was released on Friday.  The S&P 500 Index added one-tenth of one percent, continuing to show hesitation around the band of resistance between 4100 and 4200.  Momentum indicators continue to show early signs of upside exhaustion with the MACD histogram continuing to decline now that the technical indicator is converging on its signal line.  The band of major moving averages in the range of 3900 and 4000 is in a position of near-term support, but the benchmark is certainly not in a position yet to suggest that these moving averages are set to carry the benchmark higher over an intermediate to long-term basis.

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

  • Weekly chart books update: Find out what you should be Accumulating and what you should be Avoiding as the market inches closer to the off-season for risk
  • US Employment Situation report
  • The “flutter” in the bond market following the release of the monthly payroll report

Subscribers can look for this report in their inbox or by clicking on the following link and logging in: Market Outlook for April 11

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Sentiment on Monday, as gauged by the put-call ratio, ended bearish at 1.09.


Seasonal charts of companies reporting earnings today:

CarMax Inc Seasonal Chart Organigram Holdings Inc. Seasonal Chart


S&P 500 Index


TSE Composite


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