Equity Clock

Stock Market Outlook for May 21, 2021

Find out what we’re doing with Natural Gas as the fundamental prong to our approach has forced us to adjust our stance.

 

 

 

*** 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.

Consolidated Edison, Inc. (NYSE:ED) Seasonal Chart

Alexandria R E Eqty, Inc. (NYSE:ARE) Seasonal Chart

Altus Group Ltd. (TSE:AIF.TO) Seasonal Chart

Idacorp, Inc. (NYSE:IDA) Seasonal Chart

National Information Consortium, Inc. (NASD:EGOV) Seasonal Chart

Spire Inc. (NYSE:SR) Seasonal Chart

National Health Invs, Inc. (NYSE:NHI) Seasonal Chart

American Campus Communities Inc. (NYSE:ACC) Seasonal Chart

Agree Realty Corp. (NYSE:ADC) Seasonal Chart

Clearwater Paper Corp. (NYSE:CLW) Seasonal Chart

 

 

The Markets

Stocks rebounded on Thursday as this erratic push-pull action that is typical of the offseason for stocks continues.  The S&P 500 Index gained just over one percent, closing back around short-term resistance at its 20-day moving average.  Support remains implied around the rising 50-day moving average, which enticed buyers in the previous session to buy the dip.  An approximately 200-point trading range between 4,100 and 4,300 continues to define the limits of the intermediate rising range.  Momentum indicators are showing hints of trying to turn higher as the MACD histogram continues to narrow.  This is still a market that is within a rising intermediate-term trend, conducive for the timeframe that we work within in our strategy, but as long as the benchmark remains below its 20-day moving average, short-term weakness/uncertainty is implied.

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

• Tendency for the markets during the week prior to and the week of Memorial Day and how traders can benefit
• Weekly Jobless Claims and what the trend of claims has to say about the health of the labor market
• Natural Gas Inventories and how we’re playing this commodity trade
• Manufacturer sentiment, as gauged by the Philadelphia Fed Manufacturer Survey, and what the implications are for how we should position within our portfolio

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Sentiment on Thursday, as gauged by the put-call ratio, ended bullish at 0.84.

 

 

 

 

Seasonal charts of companies reporting earnings today:

 

 

S&P 500 Index

 

 

TSE Composite

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