Equity Clock

Stock Market Outlook for April 7, 2021

Despite the cold in February, the demand for labor was hot.

 

 

 

*** 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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Manhattan Associates, Inc. (NASD:MANH) Seasonal Chart

World Acceptance Corp. (NASD:WRLD) Seasonal Chart

Titan Machinery Inc. (NASD:TITN) Seasonal Chart

HSBC Holdings PLC (NYSE:HSBC) Seasonal Chart

Ship Finance Intl Ltd. (NYSE:SFL) Seasonal Chart

Boyd Group Income Fund (TSE:BYD.TO) Seasonal Chart

Q2 Holdings, Inc. (NYSE:QTWO) Seasonal Chart

 

 

 

The Markets

Stocks closed little changed on Tuesday as investors digested the gains from the past couple of sessions.  The S&P 500 Index shed a mere tenth of one percent, continuing to hold in record high territory.  The benchmark continues to reach towards the upper limit to its rising trend channel that spans between 3950 and 4150.  Support at the rising 50-day moving average continues to underline the intermediate-term trend of higher-highs and higher-lows.  Both MACD and RSI have moved above declining trendline resistance, eliminating the negative divergences that had suggested waning buying pressures for the past few months.  Despite the market at these heights, it would be pure speculation to suggest anything other than a bullish bias for stocks.

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

• Abnormal performance of the market internals early into the month of April
• The outperformance of the Gold Miners
• Job Openings and Labor Turnover Survey, what is driving the strength in openings for February, and how to play it
• US Factory Orders and examining the trend of inventories

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Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.67.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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