Equity Clock

Stock Market Outlook for April 22, 2021

We are on the lookout for those segments of the market that will benefit in either a risk-on or risk-off market trend.  See our trades 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:

Subscribers – Click on the relevant link to view the full profile. Not a subscriber? Signup here.

Ameren Corp. (NYSE:AEE) Seasonal Chart

CF Industries Holdings, Inc. (NYSE:CF) Seasonal Chart

Fair Isaac & Co., Inc. (NYSE:FICO) Seasonal Chart

Northwest Natural Gas (NYSE:NWN) Seasonal Chart

Retail Opportunity Investmnt Corp. (NASD:ROIC) Seasonal Chart

Bridgford Foods Corp. (NASD:BRID) Seasonal Chart

First Mid Bancshares, Inc. (NASD:FMBH) Seasonal Chart

Ohio Valley Banc Corp. (NASD:OVBC) Seasonal Chart

ImmuCell Corp. (NASD:ICCC) Seasonal Chart

ProShares Ultra Health Care (NYSE:RXL) Seasonal Chart

 

 

The Markets

Stocks rebounded on Wednesday as investors prepare for an onslaught of earnings in the days ahead. The S&P 500 Index clawed back much of the decline from the past two sessions to close the day higher by over nine-tenths of one percent.  Reaction to the upper limit of the rising trend-channel remains apparent and momentum indicators continue to show signs of rolling over.  For MACD, the momentum indicator continues to converge on its signal line, hinting that a sell signal may be imminent.  The Relative Strength Index (RSI) trigged a bearish crossover on Monday upon a move out of overbought territory above 70.  Downside risks in the near-term remain to rising 20 and 50-day moving averages, which are seen 2.5% and 5.0% below present levels.

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

• Is the third wave to this virus waning? The areas of the market to look to if it does
• Areas that have historically performed well in either risk-on or risk-off market trends
• US petroleum inventories, our stance in the energy sector, and the area of the energy market that has historically performed well through the summer
• Canadian Consumer Price Index (CPI) and what is driving aggregate inflationary pressures
• The Canadian Dollar and the path of the currency through the months ahead

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Sentiment on Wednesday, as gauged by the put-call ratio, ended bullish at 0.71.

 

 

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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