Stock Market Outlook for February 1, 2022
The S&P 500 Index has averaged an unchanged result in the month of February over the past 20 years with 60% of periods ending higher.
*** 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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WW Grainger, Inc. (NYSE:GWW) Seasonal Chart
Progressive Corp. (NYSE:PGR) Seasonal Chart
1-800 FLOWERS.COM, Inc. (NASD:FLWS) Seasonal Chart
Tourmaline Oil Corp. (TSE:TOU.TO) Seasonal Chart
Freshpet Inc. (NASD:FRPT) Seasonal Chart
The Markets
Stocks snapped back on Monday as the bearish bias that had proliferated throughout the month of January unwound into the last day of the month. The S&P 500 Index jumped by 1.89%, continuing to pull up from the lows charted one week ago. Horizontal support at the October low of 4300 remains intact on a closing basis. The benchmark has re-taken levels back above its 200-day moving average, ending its multi-day consolidation around the lows and moving back towards short and intermediate moving averages around the 20 and 50-day. Moving averages continue to rebound from significantly oversold levels, but the characteristics of a bearish trend have already begun. Seasonally, the month of February can be another dicey month for equity market performance before a footing is obtained more towards the spring in March and April. Stay nimble until then.
Today, in our Market Outlook to subscribers, we discuss the following:
- Hourly look at the large-cap benchmark and the levels we are watching for this rebound rally to reach
- Equity market tendency for February: When to be aggressive in the month and when to be cautious
- Notable changes in this week’s chart books: Find out what remains on our list of industries to Accumulate
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Seasonally, the month of February is nothing notable for equity market performance with the S&P 500 Index averaging an unchanged result over the past two decades. Positive results have still outnumbered negative periods at 60%. This is a month when fourth quarter earnings season winds down, leaving investors to their own fundamental devices, which can fuel some volatility later in February. The ongoing rise in the US Dollar is another factor that weighs on market performance. We break down everything that you need to know about the month in our recently released monthly outlook for February. Subscribers can look for this report in their inbox. Not subscribed yet? Signup is simple and very affordable and a subscription will grant you access to all of the content that we publish. Navigate to the following link to get started: https://charts.equityclock.com/subscribe
Just released…
Our Monthly Report for February is out, providing everything that you need to know for the month(s) ahead.
Highlights in this report include:
- Equity market tendencies in the month of February
- Tracking the spread of COVID
- Rebounding demand for petroleum products
- Jobless Claims
- Leading indicators of the economy (and equity market) remaining in good shape
- Second weakest December change in Retail Sales on record
- Industrial Production
- Manufacturer sentiment
- Inflationary pressures starting to moderate
- Equity market performance surrounding the first rate hike
- Rise in prices and the downfall of mortgage interest costs in 2021
- The technical status of the S&P 500 Index
- S&P 500 Equal Weight
- Technology Sector ETF
- The battle between offense and defense
- Investor pessimism and institutional buying
- Gold is catching a bid, but for how long
- Yields
- Global equities
- Positioning for the months ahead
- Sector reviews and ratings
- Stocks that have frequently gained in the month of February
- Notable stocks and ETFs entering their period of strength in February
Subscribers can look for this report in their inbox.
Not subscribed yet? Simply signup via our subscription page at https://charts.equityclock.com/subscribe and well send this report to you.
Want to know which areas of the market to buy or sell? Our Weekly Chart Books have just been updated, providing a clear Accumulate, Avoid, or Neutral rating for currencies, cryptocurrencies, commodities, broad markets, and subsectors/industries of the market. Subscribers can login and click on the relevant links to access.
Subscribe now.
Sentiment on Monday, as gauged by the put call ratio, ended bearish at 1.07.
Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
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