Stock Market Outlook for February 15, 2022
Sustainably high oil/gas prices poised to provide a benefit to alternative energy sources.
*** 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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Utilities Select Sector SPDR Fund (NYSE:XLU) Seasonal Chart
ELEMENTS Rogers International Commodity Index – Energy Total Return ETN (NYSE:RJN) Seasonal Chart
iShares MSCI Europe IMI Index ETF (CAD-Hedged) (TSE:XEH.TO) Seasonal Chart
iShares MSCI World ETF (AMEX:URTH) Seasonal Chart
Vanguard Global Minimum Volatility ETF (TSE:VVO.TO) Seasonal Chart
BMO Europe High Dividend Covered Call Hedged to CAD ETF (TSE:ZWE.TO) Seasonal Chart
Edison Intl, Inc. (NYSE:EIX) Seasonal Chart
Mid-America Apartment Communities Inc. (NYSE:MAA) Seasonal Chart
Extra Space Storage Inc. (NYSE:EXR) Seasonal Chart
Savaria Corp. (TSE:SIS.TO) Seasonal Chart
Prudential PLC (NYSE:PUK) Seasonal Chart
Dominion Energy, Inc. (NYSE:D) Seasonal Chart
Jefferies Financial Group Inc. (NYSE:JEF) Seasonal Chart
iShares S&P/TSX Capped Consumer Staples Index ETF (TSE:XST.TO) Seasonal Chart
BMO MSCI EAFE Hedged to CAD Index ETF (TSE:ZDM.TO) Seasonal Chart
iShares Currency Hedged MSCI Germany ETF (NASD:HEWG) Seasonal Chart
The Markets
Stocks struggled on Monday as the threat of rising geopolitical tensions overseas kept investors on the sidelines. The S&P 500 Index closed down by nearly four-tenths of one percent, making progress below its 200-day moving average for the second time in a month. Horizontal support can be pegged just below 4300, presenting what could be the neckline to a massive head-and-shoulders topping pattern. Momentum indicators have rolled over again in recent days and characteristics of a bearish trend remain intact. Levels of resistance are continuing to overwhelm levels of support, which is not exactly the desired framework to be aggressively long stocks. So long as the benchmark remains below its 200-day moving average, a heightened level of caution is warranted.
Today, in our Market Outlook to subscribers, we discuss the following:
- Energy sector
- Alternative energy sources poised to benefit from sustainably high oil prices
- Notable upgrades and downgrades in this week’s chart books
- Investor sentiment
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Sentiment on Monday, as gauged by the put-call ratio, ended bearish at 1.12.
Seasonal charts of companies reporting earnings today:
S&P 500 Index
TSE Composite
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