Equity Clock

Stock Market Outlook for May 19, 2021

Time to ship out of the US?

 

 

 

*** 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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The Bank of Nova Scotia (TSE:BNS.TO) Seasonal Chart

American Elec Pwr Co., Inc. (NYSE:AEP) Seasonal Chart

Banc of California, Inc. (NYSE:BANC) Seasonal Chart

Knoll Inc. (NYSE:KNL) Seasonal Chart

United States Cellular Corp. (NYSE:USM) Seasonal Chart

Pan American Silver Corp. (NASD:PAAS) Seasonal Chart

RCM Technologies, Inc. (NASD:RCMT) Seasonal Chart

News Corp. (NASD:NWS) Seasonal Chart

 

 

The Markets

Stocks slipped on Tuesday after a bit of a rocky session for broad market benchmarks.  The S&P 500 Index ended lower by just over eight-tenths of one percent, turning down from its declining 20-day moving average and confirming the short-term variable hurdle as a level of resistance.  Recall, it is not the initial decline in price that often warrants action, but rather the levels overhead that show where investors are willing to sell that provides actionable evidence that buying demand has become exhausted.  The move points to a short-term declining trend in the large-cap benchmark, something that the 20-day moving average has started to hint of in recent days.  The rising intermediate-term trend, however, as gauged by the direction of the 50-day moving average, remains intact.  Momentum indicators, while still showing characteristics of a bullish trend, are sloped lower.  The benchmark remains within the limits of its rising trading range between 4,075 and 4,275, although downside risks in the short-term are to the 100-day moving average at 3,950.

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

• Shipping activity in the US, the strength of demand, and stocks in the transportation industry
• Global equities; The notable shift that the data is pointing to and how we’re playing it
• US Housing Starts and our stance on the home building stocks

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Sentiment on Tuesday, as gauged by the put-call ratio, ended bullish at 0.85.

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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