Equity Clock

Stock Market Outlook for April 28, 2021

Historical data for this point in the economic recovery suggests that we are in store for a choppy equity market this summer.

 

 

 

*** 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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Infosys Technologies Ltd. (NYSE:INFY) Seasonal Chart

Expedia, Inc (NASD:EXPE) Seasonal Chart

TripAdvisor, Inc. (NASD:TRIP) Seasonal Chart

MFA Financial Inc. (NYSE:MFA) Seasonal Chart

Arena Pharmaceuticals (NASD:ARNA) Seasonal Chart

Industrias Bachoco SAB de CV (NYSE:IBA) Seasonal Chart

TC Energy Corp. (NYSE:TRP) Seasonal Chart

Proto Labs Inc. (NYSE:PRLB) Seasonal Chart

ARK Web x.0 ETF (AMEX:ARKW) Seasonal Chart

Vanguard S&P 500 Growth ETF (NYSE:VOOG) Seasonal Chart

 

 

The Markets

Stocks closed essentially flat on Tuesday as investors wait for the onslaught of earnings in the days ahead.  The S&P 500 Index closed lower by a mere two basis points (0.02%), continuing to struggle below short-term resistance around 4200.  The grind against the upper limit to the intermediate-term rising trend channel continues, despite sell signals that have been triggered with respect to MACD and RSI in recent days.  Trend-channel support hovers around 4,000.  Volumes remain rather muted as investor enthusiasm at these market heights continues to wane.

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

• Another shot at the cyclical sectors as the month comes to a close
• The average performance of the S&P 500 Index following the first anniversary of recessionary market lows: what to expect and how to play it
• US Durable Goods Orders and the opportunity for our portfolio through the summer
• US Home Prices and the implications for stocks and the consumer economy
• Consumer Confidence

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Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.70.

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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