Equity Clock

Stock Market Outlook for April 16, 2021

The strongest monthly increase in Retail Sales on record, yet retail stocks close fairly flat and have adopted a trend of underperformance versus the market.  Find out what is going on in today’s report.

 

 

 

*** 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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TC Energy Corporation (TSE:TRP.TO) Seasonal Chart

Westport Innovations, Inc. (TSE:WPRT.TO) Seasonal Chart

Universal Health Services – Class B (NYSE:UHS) Seasonal Chart

Crocs, Inc. (NASD:CROX) Seasonal Chart

LHC Group Inc. (NASD:LHCG) Seasonal Chart

Meta Financial Group, Inc. (NASD:CASH) Seasonal Chart

Toronto Dominion Bank (NYSE:TD) Seasonal Chart

Chegg, Inc. (NYSE:CHGG) Seasonal Chart

Hannon Armstrong Sustainable Infastructure Capital Inc. (NYSE:HASI) Seasonal Chart

SPDR S&P 1500 Momentum Tilt ETF (AMEX:MMTM) Seasonal Chart

Invesco S&P SmallCap Health Care ETF (NASD:PSCH) Seasonal Chart

Vanguard S&P Small-Cap 600 Growth ETF (NYSE:VIOG) Seasonal Chart

TransAlta Corp. (TSE:TA.TO) Seasonal Chart

Franco-Nevada Corp. (TSE:FNV.TO) Seasonal Chart

ServiceNow, Inc. (NYSE:NOW) Seasonal Chart

 

 

The Markets

Stocks jumped on Thursday following strong data pertaining to retail sales and jobless claims.  The S&P 500 Index jumped by 1.11%, inching beyond limits of the rising trend channel that we have highlighted in recent days around 4150.  The benchmark is starting to develop hints of a parabolic trend, typically an unsustainable path that leaves it vulnerable to a snap-pullback should a negative catalyst be received.  Momentum indicators have pulled up after showing hints of rolling over during the past couple of session, however, the MACD histogram continues to wane as the momentum indicator converges on its signal line.  The market remains significantly overbought, but this has yet to deter investors that are focussed on continuing to maintain exposure to the rising trend.

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

• The jump in bond prices on Thursday
• Gold and Gold Miners
• Weekly Jobless Claims and what they have to say about the strength of the labor market
• US Retail sales and the strongest monthly performance for the consumer on record
• US Industrial Production

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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.76.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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