Equity Clock

Stock Market Outlook for March 11, 2021

While inflationary pressures may be bubbling up, they are not yet widespread.

 

 

 

*** 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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Peyto Exploration & Development Corp. (TSE:PEY.TO) Seasonal Chart

Perpetual Energy Inc. (TSE:PMT.TO) Seasonal Chart

Dycom Industries, Inc. (NYSE:DY) Seasonal Chart

Newpark Resources, Inc. (NYSE:NR) Seasonal Chart

Coca Cola Femsa, SAB (NYSE:KOF) Seasonal Chart

Astrazeneca PLC (NASD:AZN) Seasonal Chart

Teligent, Inc. (NASD:TLGT) Seasonal Chart

China Yuchai Intl Ltd. (NYSE:CYD) Seasonal Chart

ENGlobal Corp. (NASD:ENG) Seasonal Chart

Seven Generations Energy Ltd. (TSE:VII.TO) Seasonal Chart

Fury Gold Mines Ltd. (TSE:FURY.TO) Seasonal Chart

iShares U.S. Oil & Gas Exploration & Production ETF (NYSE:IEO) Seasonal Chart

ING Global Equity Dividend and Premium Opportunity Fund (NYSE:IGD) Seasonal Chart

SPDR S&P 600 Small Cap ETF (NYSE:SLY) Seasonal Chart

 

 

The Markets

Stocks gained on Wednesday as House democrats passed the $1.9 Trillion economic stimulus bill.  The S&P 500 Index gained six-tenths of one percent, reaching back towards short-term psychological resistance at 3900.  The benchmark managed to close back above its 20-day moving average, a hurdle that capped the advance in the prior sessions.  Momentum indicators continue to show signs of recovering with MACD once again converging on its signal line.  Negative divergences with respect to MACD and RSI remain intact, indicative of waning buying demand.  The makings of a short-term topping pattern continue to be seen with downside risks to previous resistance, now support, at 3550.  But while this near-term concern will remain a thorn in our side until the end of the quarter, this continues to be a buy the dip market, suggesting any weakness realized in equity prices before the end of the quarter warrants buying.  A pullback to levels of support would shakeout euphoric retail investor sentiment and reinvigorate buying demand, particularly on the institutional side.  Let see what cards we are dealt between now and the end of the month.

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

• US Petroleum Status and what the change in energy inventories has to say about the seasonal trade in the sector
• The price of oil and how to trade it
• US Consumer Prices and what is driving inflationary pressures on the top-line print
• Bond prices

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Sentiment on Wednesday, as gauged by the put-call ratio, ended bullish at 0.72.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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