Equity Clock

Stock Market Outlook for May 12, 2021

Job openings rise to the highest level on record as employers plead with Americans to return to work in order to fulfill upbeat demand.

 

 

 

*** 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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USANA Health Sciences, Inc. (NYSE:USNA) Seasonal Chart

AG Mortgage Investment Trust, Inc. (NYSE:MITT) Seasonal Chart

Power REIT (AMEX:PW) Seasonal Chart

Vince Holding Corp. (NYSE:VNCE) Seasonal Chart

Inovalon Holdings Inc. (NASD:INOV) Seasonal Chart

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (NYSE:ETW) Seasonal Chart

Direxion Daily 20+ Year Treasury Bull 3x Shares (NYSE:TMF) Seasonal Chart

 

 

The Markets

Stocks dipped on Tuesday as investors once again became sensitive to the prospect of rising rates amidst inflationary pressures bubbling up in the economy.  The S&P 500 Index slipped by almost nine-tenths of one percent, closing below its 20-day moving average for the first time since the start of March.  Reaction to the upper limit to the rising intermediate trend channel that now spans between 4075 and 4275 remains apparent.  Downside risks to the rising 50-day moving average around 4050 remain fair game.  Momentum indicators remain on sell signals, however, the technical indicators continue to show characteristics of a bullish trend.  Welcome to the erratic trading environment that is typical of the spring and summer.

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

• Significant reversals in the market; where investors are attempting to buy levels of support
• The break of the 50-day moving average for the Technology sector ETF
• Job Openings and Labor Turnover Survey (JOLTS) and what the areas of strength in this report have to say about how we should position in this market

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Sentiment on Tuesday, as gauged by the put-call ratio, ended neutral at 0.99.

 

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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